MobiKwik shares surge 8% off day's lows following heavy block deal; 8.98% equity changes hands
By Aditya Bhagchandani Published on June 26, 2025, 09:42 IST
Shares of One MobiKwik Systems Ltd recovered sharply on Thursday, June 26, climbing nearly 8% from intraday lows after a large block deal triggered heavy selling pressure in the morning session. The stock was last seen trading at ₹247.95 on the NSE, up almost 1% from the previous close of ₹245.55.
Earlier in the day, MobiKwik shares had slipped over 6% after nearly 8.98% equity, worth approximately ₹168 crore, changed hands in a block deal. This came a day after CNBC-TV18 reported that Net1 Applied Technologies Netherlands BV, a subsidiary of South Africa-based Net1 UEPS Technologies, was planning to offload its entire 8% stake in the company via block deals.
Net1 had originally invested ₹268 crore in MobiKwik back in 2016 as part of a strategic partnership, integrating its virtual card technology into the Indian digital payments platform.
Since its December 2024 stock market debut at a 58% premium to its IPO price of ₹279, MobiKwik shares had rallied to a high of ₹698 but have corrected more than 60% from those levels. The mandatory six-month lock-in period for pre-IPO shareholders ended on June 18, which further triggered selling pressure.
The stock's year range now stands between ₹227.25 and ₹698.30, with the company's market capitalization at ₹19,330 crore.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information
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Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
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