Tech
Mobikwik shares jump 12% after ADIA exits via block deal
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Shares of One Mobikwik Systems, the parent of fintech startup Mobikwik, jumped 12% to Rs 266 apiece on September 2 following the Abu Dhabi Investment Authority (ADIA) exiting its holding in the company through a block deal a day earlier.
According to block deal data on the National Stock Exchange (NSE), ADIA sold 16,44,438 equity shares of Mobikwik at an average price of Rs 238.4 per share, valuing the transaction at around Rs 39.2 crore.
The stake sale accounted for 2.1% of Mobikwik’s total outstanding equity, based on the company’s June…
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