What is the story about?
Shares of One MobiKwik Systems Ltd., the parent company of payment solutions provider MobiKwik, surged as much as 12% on Monday, September 1, snapping a six-day losing streak.
However, the stock is still
65% below its post-listing high of ₹698.30, which it had hit on December 26, 2024.
About 2.2 crore shares changed hands, compared with the 20-day average of 7 lakh.
The fintech company posted its consolidated loss widening to ₹41.9 crore in the June quarter, compared to a loss of ₹6.6 crore in the same period last year.
One MobiKwik Systems's revenue from operations stood at ₹271 crore, a 20.7% decline from ₹342.2 crore in Q1 FY25, according to a regulatory filing.
Seen sequentially, losses narrowed
from ₹56 crore in Q4 FY25, while revenue saw an uptick of 1.3%.
MobiKwik made a strong start to its journey as a public company, listing at a premium of 58% to its issue price.
MobiKwik's ₹572 crore IPO saw strong subscription across investor categories, with all of the categories bidding in excess of 100 times the shares on offer for them. The three-day IPO saw an overall subscription of nearly 120 times, receiving bids for nearly ₹40,000 crore, compared to the IPO size.
The entire MobiKwik IPO was a
fresh issue of shares, which means all the proceeds went to the company.
MobiKwik is tracked only by one analyst, Dolat Capital Markets, who has a 'Buy' rating on the counter.
Shares of One MobiKwik are now trading 7.67% higher at ₹236.76. The stock is up just 1% in the last one month.
However, the stock is still
About 2.2 crore shares changed hands, compared with the 20-day average of 7 lakh.
The fintech company posted its consolidated loss widening to ₹41.9 crore in the June quarter, compared to a loss of ₹6.6 crore in the same period last year.
One MobiKwik Systems's revenue from operations stood at ₹271 crore, a 20.7% decline from ₹342.2 crore in Q1 FY25, according to a regulatory filing.
Seen sequentially, losses narrowed
MobiKwik made a strong start to its journey as a public company, listing at a premium of 58% to its issue price.
MobiKwik's ₹572 crore IPO saw strong subscription across investor categories, with all of the categories bidding in excess of 100 times the shares on offer for them. The three-day IPO saw an overall subscription of nearly 120 times, receiving bids for nearly ₹40,000 crore, compared to the IPO size.
The entire MobiKwik IPO was a
MobiKwik is tracked only by one analyst, Dolat Capital Markets, who has a 'Buy' rating on the counter.
Shares of One MobiKwik are now trading 7.67% higher at ₹236.76. The stock is up just 1% in the last one month.
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