Mumbai, June 18
Shares of One MobiKwik Systems Limited, the parent company of digital payments platform MobiKwik, fell sharply on Wednesday, dropping over 9 per cent to trade below its IPO issue price, following the expiry of the mandatory six-month lock-in period for pre-IPO shareholders.
The stock slipped 9.34 per cent or Rs 25.15 to close the trading session at Rs 244.25 on the National Stock Exchange (NSE). MobiKwik had made a strong market debut late last year, listing at a 58 per cent premium over its issue price of Rs 279.
However, the stock has since seen a steep fall and has now erased nearly 64 per cent of its value from its post-listing high of Rs 698.
Meanwhile, in the March quarter (Q4) of FY25, MobiKwik’s net loss widened significantly to Rs 56 crore, compared to just Rs 0.6 crore in the same quarter previous fiscal (Q4 FY24).
On a quarter-on-quarter (QoQ) basis, its revenue from operations dipped slightly to Rs 267.7 crore from Rs 269.4 crore.
The company also reported an EBITDA loss of Rs 56.5 crore, which was higher than the Rs 47.6 crore loss in the previous quarter.
Despite the losses, the company highlighted strong growth in its payments business. Its Gross Merchandise Value (GMV) surged 203 per cent year-on-year (YoY) to Rs 1,15,900 crore.