Mobikwik shares back above IPO price after 20% surge on ADIA exit

Abu Dhabi Investment Authority (ADIA) a key shareholder in payments solutions provider One Mobikwik Systems Ltd., exited the company via block deals on Monday, September 1, official data showed. In response, the stock has risen 11% in trading on September 2.

According to block deal data available on the Stock Exchange (NSE), Abu Dhabi Investment Authority sold 16.44 lakh equity shares of Mobikwik, at an average price of ₹238.45 per share.

This took the total transaction value of the block deal to ₹39.21 crore.

The number of shares sold by the Abu Dhabi Investment Authority amount to 2.1% of the company's outstanding equity. Based on the June quarter shareholding pattern, ADIA had a 2.1% stake in Mobikwik.

Besides ADIA, Peak XV Partners (9.92%), Cisco Systems (1.54%) and American Express Travel Related Services Company Inc. (1.34%) are some of the other public shareholders in Mobikwik.

Government Pension Fund Global (3.01%), Societe Generale (1.2%), Citigroup Global Markets (1.12%) are some of the foreign portfolio investors in Mobikwik as per the June shareholding.

As many as 1.84 lakh small retail shareholders, or those with an authorised share capital of up to ₹2 lakh, held a 28.1% stake in the company as of June 30.

Shares of Mobikwik are trading 11% higher on Tuesday at ₹264. The stock had gained as much as 15% on Monday to make an intraday high of ₹255, before giving up some of those gains to end 8.1% higher at ₹237.74. The stock still trades below its IPO price of ₹278, and is down 65% from its post-listing high of ₹698.