Mobikwik Share Price Soars 45% In 2 Days After 52-Week Low Post IPO Lock-In Expiry – News18
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One Mobikwik Systems shares surged 14 percent intraday on Wednesday, continuing a 45 percent rise over two sessions. The stock hit a 52-week low of Rs 231 on March 17 after a lock-in expiry.
One MobiKwik shares surge 45% in 2 days.
Mobikwik Share Price: The sharp upward momentum in the shares of One Mobikwik Systems continued on Wednesday with a surge of 14 per cent during the intraday. In the previous session, shares of payment aggregator hit the upper circuit of 20 per cent. The scrip climbed to 45 per cent in over the past two sessions.
Around 12:00 PM, shares were trading at Rs 337.60 per share with a jump of 13.31 per cent. The stock’s 52-week high and low are at Rs 698.30 and Rs 231.10, respectively.
Earlier, the stock crashed to its fresh 52-week low of Rs 231 apiece on March 17 after the end of its three-month lock-in period. The lock-in expiry unlocked 5 million shares, equivalent to 6 percent of the outstanding equity of the company. The total lock-in value of these shares is estimated at $16 million.
MobiKwik IPO
Mobikwik’s stock market debut in December last year saw its shares list at Rs 440 on the NSE, a significant 58 percent premium over its issue price of Rs 279. However, the stock has since experienced a decline of over 50 percent from its peak of Rs 698 per share, reached in December last year.
The MobiKwik IPO, which was open for bidding from December 11 to December 13, achieved an overall subscription of 125.69 times, underscoring its popularity among market participants.
About MobiKwik
MobiKwik is a digital financial services platform and India’s largest digital wallet, offering a range of payment and financial products for consumers and merchants, including digital credit, investments, and insurance.
MobiKwik Financials
For the quarter ended 31 December 2024, the company recorded revenue from operations of INR 2,679.72 million and other income of INR 69.74 million, resulting in a total income of INR 2,749.46 million. Total expenses for the quarter amounted to INR 3,146.84 million, leading to a loss before tax of INR 513.22 million. After accounting for tax expense, the net loss for the quarter stood at INR 523.72 million. The total comprehensive loss for the period, including other comprehensive income, was INR 528.22 million.
For the nine-months period ended 31 December 2024, the company reported revenue from operations of INR 8,981.29 million and other income of INR 169.15 million, totaling INR 9,150.44 million in income. Total expenses for the nine months reached INR 9,484.09 million, resulting in a loss before tax of INR 656.04 million. After incorporating tax expense, the net loss for the period amounted to INR 666.54 million. Including other comprehensive income, the total comprehensive loss for the nine months was INR 679.07 million.
