One MobiKwik shares extend gains above IPO price, up 36% in three sessions

Shares of payments solutions provider One Mobikwik Systems Ltd., have surged another 6% on Wednesday, September 3, extending their gains for the third consecutive session. The stock has rallied about 36% in the last three days.

With today's move, the stock has now risen 8% from its IPO price of ₹278 per share.

On Wednesday, about 3.6 crore shares have changed hands already, compared with the 20-day average of 25 lakh.

Abu Dhabi Investment Authority (ADIA), a key shareholder, exited the company via block deals on Monday, official data showed.

According to block deal data available on the Stock Exchange (NSE), Abu Dhabi Investment Authority sold 16.44 lakh equity shares of Mobikwik, at an average price of ₹238.45 per share.

This took the total transaction value of the block deal to ₹39.21 crore.

The number of shares sold by the Abu Dhabi Investment Authority amount to 2.1% of the company's outstanding equity. Based on the June quarter shareholding pattern, ADIA had a 2.1% stake in Mobikwik.

Besides ADIA, Peak XV Partners (9.92%), Cisco Systems (1.54%) and American Express Travel Related Services Company Inc. (1.34%) are some of the other public shareholders in Mobikwik.

Government Pension Fund Global (3.01%), Societe Generale (1.2%), Citigroup Global Markets (1.12%) are some of the foreign portfolio investors in Mobikwik as per the June shareholding.

About 1.84 lakh small retail shareholders, or those with an authorised share capital of up to ₹2 lakh, held a 28.1% stake in the company as of June 30.

Shares of Mobikwik are trading about 6% higher on Wednesday. The stock had jumped 20% on Tuesday and 15% on Monday. However, the stock is down 57% from its post-listing high of ₹698.