MobiKwik Shares Rise 6.5% After ₹168 Crore Block Deal

27 Jun 2025 , 08:36 AM

Shares of One MobiKwik Systems Ltd. climbed 6.5% on Thursday, June 26, after a large block deal saw 8.98% equity, valued at around ₹168 crore, change hands on the exchanges.

Net1 Applied Technologies Netherlands BV, a subsidiary of South Africa’s Net1 UEPS Technologies, was preparing to offload its entire 8% stake in the company. Net1 had first invested in MobiKwik back in 2016, putting in $40 million (around ₹268 crore) to integrate its virtual card technology with MobiKwik’s digital payments platform, as noted by MoneyControl.

MobiKwik made its stock market debut in December 2024, listing at a 58% premium to its issue price of ₹279 per share. Despite the strong listing, the stock has since declined over 60% from its post-listing high of ₹698. The mandatory six-month lock-in period for pre-IPO shareholders ended on June 18, opening the door for large investors to exit their holdings.

In terms of financials, MobiKwik posted a net loss of ₹56 crore in the March 2025 quarter, a significant increase compared to the ₹67 lakh loss reported in the same quarter last year.

Revenue for the March quarter saw a modest 2.6% year-on-year growth, while Payments GMV (Gross Merchandise Value) more than doubled, rising 2.3 times from the year-ago period. The company’s EBITDA loss stood at ₹45.8 crore, impacted by weaker contribution margins, despite top-line growth.

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