Last Updated:
Shares of One MobiKwik Systems, the parent company of digital payments provider MobiKwik, touched a new 52-week low of Rs 231.05
MobiKwik Shares Decline
MobiKwik Share Price: Shares of One MobiKwik Systems, the parent company of digital payments provider MobiKwik, tumbled 14.6% on Monday, reaching a new 52-week low of Rs 231.05, following the expiration of a three-month lock-in period. The expiry has unlocked 46 lakh shares, or 6% of the company’s outstanding stock, making them available for trading.
MobiKwik’s shares plunged as much as 14.6% during intraday trading, reaching a new low of Rs 231.1 per share. The stock later pared some losses and was trading 9.4% lower at Rs 245.1, compared to a 0.46% gain in the Nifty 50 as of 10:20 AM.
Since their listing in December last year, the shares have fallen nearly 43%. After peaking at Rs 698.3 per share on December 26, the stock has dropped by nearly 65% since then.
Anchor investors were subject to a lock-in period of 30 days for 50% of their allotted shares before the IPO, with the remaining 50% locked in for 90 days. This restriction prevents institutions from selling their shares immediately after listing, helping to stabilise the stock price and build long-term market confidence.
Ahead of its December 2024 IPO, MobiKwik allotted around 9.22 million shares at Rs 279 each to 21 anchor investors. The first lock-in period for these investors ended on January 15, 2025.
MobiKwik’s IPO was oversubscribed by 119.38 times, with the Retail Individual Investors (RIIs) category receiving 134.67 times the subscription, the Qualified Institutional Buyers (QIBs) category 119.50 times, and the Non-Institutional Investors (NIIs) category 108.95 times.
The IPO raised Rs 572 crore through the issuance of 2.16 crore equity shares at the lower band of Rs 265 per share (face value Rs 2 per share) and 2.05 crore equity shares at the upper band of Rs 279 per share.
For the third quarter of Financial Year 2025 (Q3 FY25), MobiKwik reported a consolidated loss of Rs 55.2 crore, a decline from a profit of Rs 5.27 crore in the same period last year. On a sequential basis, the company posted a loss of Rs 3.59 crore in Q2 FY24. Revenue from operations grew by 17.7% year-on-year from Rs 228.93 crore in Q3 FY24 to Rs 269.47 crore in Q3 FY25. However, the revenue declined sequentially by 7.3% from Rs 290.64 crore in Q2 FY25.