Mumbai— Shares of One MobiKwik Systems Limited, the parent company of digital payments platform MobiKwik, tumbled over 9% on Wednesday, slipping below its initial public offering (IPO) price following the expiration of the mandatory six-month lock-in period for pre-IPO investors.
The stock declined 9.34%, or ₹25.15, to close at ₹244.25 on the National Stock Exchange (NSE). This marks a significant retreat from its market debut late last year, when it listed at a 58% premium over its issue price of ₹279.
Since its post-listing peak of ₹698, MobiKwik’s stock has lost nearly 64% of its value.
The decline comes on the heels of a weak financial performance in the fourth quarter (Q4) of FY25. The company reported a widened net loss of ₹56 crore, compared to just ₹0.6 crore in the same period last year. Revenue from operations slipped slightly on a quarter-on-quarter basis to ₹267.7 crore, down from ₹269.4 crore.
MobiKwik also posted an EBITDA loss of ₹56.5 crore in Q4, higher than the ₹47.6 crore loss recorded in the previous quarter.
Despite the financial setbacks, the company pointed to strong momentum in its core payments business. Its Gross Merchandise Value (GMV) soared 203% year-over-year to ₹1,15,900 crore.
For the full fiscal year 2024–25, MobiKwik reported a net loss of ₹121.5 crore, reversing a profit of ₹14 crore in FY24. However, annual revenue grew 33.7% to ₹1,170.1 crore, driven largely by the performance of its payments division.
By the end of FY25, MobiKwik had expanded its user base to 176.4 million, adding 20.6 million new users over the year.
MobiKwik offers a broad range of digital payment services including the MobiKwik Wallet, UPI, Pocket UPI, and Zaakpay, its proprietary payment gateway platform. (Source: IANS)
