[Update] Net1 Applied Technologies Offloads Entire Stake In MobiKwik

Update | June 26, 8:32 PM

MobiKwik investor Net1 Applied Technologies sold its entire 8% stake in the company via a bulk deal. Net1 Applied Technologies Netherlands BV, a subsidiary of South Africa’s Net1 UEPS Technologies, offloaded 62.15 Lakh shares in the company at INR 230.16 apiece, raking in INR 143.06 Cr via the deal.

The offloaded shares were lapped up by Societe General, HDFC Mutual Fund, Citi Group, among others. 

MobiKwik’s shares ended today’s session 6.79% higher from the previous close at INR 262.70 on the BSE.

Original | June 26, 3:18 PM

Shares of One Mobikwik Systems Limited, the parent entity of fintech major MobiKwik, rallied close to 15% on the BSE today, hitting its peak at INR 282.65 apiece during the intraday trading session. 

The stocks surged after 8.98% equity worth INR 168 Cr changed hands in a block deal. The publication had earlier reported that Net1 Applied Technologies Netherlands BV, a subsidiary of South Africa’s Net1 UEPS Technologies, was looking to offload 8% of its stake in MobiKwik. The shares were supposed to be offered at a discount ranging from 0% to 8.4%, the report said. 

Net1 had invested $40 Mn in the Delhi NCR-based company back in 2016, the report added.

Shares of MobiKwik got listed on the stock exchanges at a premium of 58.5% at INR 442.25, above its issue price of INR 279. The stock made its debut on the NSE and BSE on December 18, 2024. 

However, the stock has lost 44.37% of its value from the day it got listed on the exchanges as per yesterday’s closing price of INR 246.

Besides, two weeks back, the ministry of finance had rubbished speculations on the reinstatement of Merchant Discount Rate (MDR) following which the stocks of MobiKwik further saw a dip of 1.46% during that week. 

This happened since the likes of MobiKwik and its peers, including Paytm were expecting to generate a new line of revenue stream through MDR on UPI

“MDR on UPI and PPI is a development that is already in motion from the RBI and is being discussed across the payments ecosystem. From our perspective, this will definitely introduce a new revenue stream that we are currently not receiving, making it essentially 100% profit for us from any Pocket UPI transactions.,” MobiKwik cofounder and CEO Bipin Preet Singh said during the Q4 earning call.  

Also, the shares of MobiKwik nosedived as much as 10% on June 18 when the lock-in period for pre-IPO shareholders ended. 

On the financial front, MobiKwik’s net loss zoomed 83.5X to INR 56.03 Cr in the fourth quarter of the financial year 2025 (Q4FY25) from INR 67.1 Lakh in the year-ago period. Meanwhile, the company’s operating profit remained flat in the quarter under review surging just 1% to INR 267.78 Cr from INR 264.98 Cr in Q4FY24.