MobiKwik Shares Rally 15% After INR 118 Cr Block Deal

Shares of MobiKwik rallied nearly 15% to hit a fresh all-time high of INR 698.30 apiece on the BSE after a block deal worth INR 118 Cr was executed on the exchanges

About 18.6 Lakh shares of MobiKwik, comprising a 2.4% equity in the company, changed hands on the counter at an average selling price of INR 635 per share

With the stock getting a shot in the arm, MobiKwik’s market capitalisation zoomed to INR 5,189.45 Cr (around $608.6 Mn)

Shares of fintech major MobiKwik rallied nearly 15% to hit a fresh all-time high of INR 698.30 apiece on the BSE today (December 26) after a block deal worth INR 118 Cr was executed on the exchanges.

About 18.6 Lakh shares of MobiKwik, comprising a 2.4% equity in the company, changed hands on the counter at an average selling price of INR 635 per share, CNBC-TV18 reported. 

However, the identity of the buyers and sellers that participated in the transaction remains unknown.

MobiKwik made a stellar market debut earlier this month, with its shares listing at 442.25 apiece on the BSE, a 58.5% premium over the IPO issue price of INR 279.

At 2:06 PM, the stock was quoting at INR 668, a 51% jump from its listing price.

With the stock getting a shot in the arm, MobiKwik’s market capitalisation zoomed to INR 5,189.45 Cr (around $608.6 Mn).

(The story will be updated soon)