One Mobikwik Systems’ shares continued their sharp upward momentum today, surging 14% intraday. This follows a 20% upper circuit rally in the previous session, marking a remarkable 45% rise over two trading days. The stock had recently hit a 52-week low of Rs 231 on March 17 after the expiry of its IPO lock-in period. By 12:00 PM, the stock was trading at Rs 337.60, up 13.31% on the day. The stock’s 52-week high and low stand at Rs 698.30 and Rs 231.10, respectively.
Impact of Lock-In Expiry
On March 17, Mobikwik shares tumbled 15% to hit a fresh 52-week low of Rs 231. The decline was triggered by the lock-in expiry, which unlocked 5 million shares, accounting for 6% of the company’s outstanding equity. These shares had an estimated total lock-in value of $16 million. However, the stock has since rebounded strongly, with significant investor interest driving the sharp recovery.
Mobikwik’s Stock Market Debut and Performance
Mobikwik made its stock market debut in December 2024, listing at Rs 440 on the NSE—a substantial 58% premium over its issue price of Rs 279. However, after reaching an all-time high of Rs 698 in December, the stock saw a steep decline of over 50% from its peak.
Despite the recent gains, Mobikwik’s stock is still down more than 32% from its listing price. However, it is currently trading approximately 7% higher than its IPO issue price.
Financial Performance
For the quarter ended December 31, 2024, Mobikwik reported:
- Revenue from operations: INR 2,679.72 million
- Other income: INR 69.74 million
- Total income: INR 2,749.46 million
- Total expenses: INR 3,146.84 million
- Loss before tax: INR 513.22 million
- Net loss: INR 523.72 million
- Total comprehensive loss: INR 528.22 million
For the nine-month period ending December 31, 2024:
- Revenue from operations: INR 8,981.29 million
- Other income: INR 169.15 million
- Total income: INR 9,150.44 million
- Total expenses: INR 9,484.09 million
- Loss before tax: INR 656.04 million
- Net loss: INR 666.54 million
- Total comprehensive loss: INR 679.07 million
Conclusion
Mobikwik’s stock has staged a significant recovery after hitting its 52-week low post-IPO lock-in expiry. While the stock remains well below its all-time high, the recent surge highlights renewed investor confidence. Market participants will be closely watching Mobikwik’s future financial performance and stock movements to gauge its long-term potential.