MobiKwik Shares Rally 9%, Recover From 52-Week Low

SUMMARY

Shares of One MobiKwik Systems rallied over 9% today to reach an intraday high of INR 271.05 on the BSE, erasing all its previous session’s losses

The stock came under heavy selling pressure yesterday, sinking 15% to hit its 52-week low at INR 231.05 on the BSE after expiration of 3-month IPO lock-in period

MobiKwik reported a consolidated net loss of INR 55 Cr in Q3 FY25 as against a profit of INR 5 Cr in the year-ago quarter

Shares of fintech major MobiKwik’s parent One MobiKwik

Systems rallied over 9% today to reach an intraday high of INR 271.05 on the BSE, erasing the losses of the previous session.

The stock came under heavy selling pressure yesterday, sinking 15% to hit its 52-week low at INR 231.05 on the BSE after the expiration of three-month IPO lock-in period.

After the lock-in expiry, as many as 46 Lakh MobiKwik shares, representing a 6% stake in the fintech company, became eligible for trade.

MobiKwik made a bumper market debut in December 2024. Its shares got listed at INR 442.25 apiece on the BSE, a 58.5% premium to the IPO issue price of INR 279.

However, the stock has declined 44% from its listing price and 11% from its issue price. In the past three months, the stock has shed over 53%.

At 12:38 PM, the stock was trading at INR 268.95, up 8.29% from its previous close.

Founded in 2009 by Bipin Preet Singh and Upasana Taku, MobiKwik is a digital banking platform that offers a suite of financial products for both consumers and merchants. It generates revenue by providing consumer payments, buy now pay later (BNPL), and payment gateway services.

The company reported a consolidated net loss of INR 55.28 Cr in the third quarter of the fiscal year 2024-25 (Q3 FY25) as against a profit of INR 5.27 Cr in the year-ago quarter. Operating revenue rose 18% to INR 269.47 Cr during the quarter from INR 228.93 Cr in Q3 FY24.

In February, MobiKwik said it has received approval from its board to incorporate and invest in one or more wholly-owned subsidiaries as it explores new avenues to expand its business.

While the company did not share details of its expansion plans, the announcement came after MobiKwik cofounders said in the post-earnings call that the company was eyeing an entry into new fintech verticals this year.

MobiKwik plans to expand its spend analytics platform Lens and foray into the insurance aggregator and insurance distributor space.