MobiKwik share Price: Plunges 7% as 3-month lock-in period ends
One MobiKwik Systems shares plummeted 7 per cent to ₹251.70 on Monday as the three-month lock-in period expired, allowing pre-IPO investors to sell their holdings. The stock touched an intraday low of ₹231.10, falling below its IPO price of ₹269.
Approximately 46 lakh shares, representing 6 per cent of the digital payments company’s outstanding equity, became eligible for trading today. The stock has now corrected 61 per cent from its post-listing high of nearly ₹700.
- Also read: All eyes on One MobiKwik Systems listing
Heavy trading volume marked the session, with 76.21 lakh shares changing hands, valued at ₹187.79 crore. The company’s total market capitalisation now stands at ₹1,955.36 crore, with a free float market cap of ₹361.62 crore.
MobiKwik, which went public last quarter, has faced significant selling pressure since its listing. The fintech company operates in the competitive digital payments space, offering wallet services, bill payments and financial products.
The end of lock-in periods typically creates downward pressure on recently listed stocks as early investors get their first opportunity to exit positions.
