One Mobikwik Systems Ltd shares soared six percent after 8.98 percent equity in the firm, worth Rs 168 crore, was exchanged in the block deal window on Thursday, June 26.
Net1 Applied Technologies Netherlands BV, an arm of South Africa’s Net1 UEPS Technologies, was preparing to offload around 8 percent of its holdings in the firm, sources said. The block deal was expected to be priced at up to 8.4 percent discount to the share's previous closing price, indicating a move to reduce exposure.
At 10.30 a.m., shares of the firm were quoting Rs 258.6, up 5.3 percent on the NSE.
According to the March quarter shareholding data, the promoters own around 25.2 percent in One Mobikwik Systems. FIIs and DIIs hold around 3.9 percent and 4.6 percent stake in the firm, while the public shareholding is around 66.4 percent.
Net 1 Applied Technologies Netherlands B.V. had an eight percent stake in the firm in March, and with this block deal, it seeks to exit its holding in the stock completely.
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The South African firm became an investor in Mobikwik in 2016, putting in $40 million or Rs 268 crore as part of a broader strategic collaboration that brought its virtual card solution to the Indian payments ecosystem.
This move comes as Mobikwik accelerates its diversification strategy. In March 2025, the company forayed into stockbroking with the launch of Mobikwik Securities Broking Private Ltd.
Further, mutual funds have decreased their holdings in the firm from 6.81 percent in December FY2025 to 3.52 percent in March 2025, with the number of schemes holding the firm's stock falling to four, down from six earlier.
The company reported that its revenue from operations reduced 0.6 percent to Rs 267.70 crore in the March quarter of FY25 against Rs 269.40 crore, QoQ. The earnings before interest, taxes, depreciation and amortisation (EBITDA) loss was reported at Rs 56.5 crore against an EBITDA loss of Rs 47.60 crore QoQ.
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