The shares of a digital banking-focused fintech player, known for offering a wide range of financial products to both consumers and merchants, witnessed a volatile trading session on Thursday, June 26. The stock fell over 6% in early trade after 8.98% equity worth Rs 168 crore changed hands via a block deal.
With a market capitalization of Rs 2,016 crore on Thursday, shares of One MobiKwik Systems Ltd opened under pressure, falling over 6% in early trade to hit an intraday low of Rs 230.65 down from the previous close of Rs 246.00 following a large block deal that sparked heavy selling.
However, the stock staged a sharp recovery as the session progressed, rebounding nearly 23% from the day’s low. It was last seen trading at Rs 282.00 on the BSE, marking a gain of 14.6% over the previous close, as investor sentiment turned positive post the stake sale.
According to sources, One MobiKwik Systems Ltd, came into sharp focus on Thursday after a hefty block deal saw nearly Rs 168 crore worth of shares about 8.98 percent of the company’s outstanding equity change hands.
The transaction is understood to have involved South Africa-based strategic investor Net1 Applied Technologies Netherlands BV, which reportedly offloaded its entire 8 percent stake. Net1 had first invested $40 million (≈ Rs 268 crore) in 2016 as part of a partnership that integrated its virtual-card technology into the Indian payments platform.
One MobiKwik Systems Ltd is a publicly listed fintech company, home to India’s largest digital wallet. Founded in 2009 by Bipin Preet Singh and Upasana Taku, the platform serves over 176 million users and 4.6 million merchants across the country.
It operates a two-sided payment network, connecting users and merchants through services like QR codes, Soundbox, and EDC machines. Users can make payments, invest, and access credit, while merchants use MobiKwik as their primary payment partner.
As a tech-first company, MobiKwik uses big data and data science to build financial products for Bharat. It also offers wealth products to help Indians become financially independent.
The company’s revenue rose by 33.7 percent from Rs. 875 crore in FY24 to Rs. 1,170 crore in FY25. Meanwhile, the company swung to a loss of Rs. 122 crore in FY25, compared to a profit of Rs.14 crore in FY24.
Written By Rohan Pandey
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