Following the three-month share lock-in opening, One Mobikwik Systems’ stock fell about 15% to a new 52-week low on Monday, March 17. After the three-month lock-in period ends, 5 million equity shares—or 6% of the company’s total outstanding shares—will be available for market trading, according to Nuvama Institutional Equities. A lock-in period’s expiration, however, does not always mean that all of the shares will be sold; rather, it simply means that the shares will be available for trading. In intraday trading today, the price of Mobikwik shares fell by about 15% after the lock-in expiration. The stock price fell to its lowest point ever, ₹231.05. It had begun at ₹269.95, below the previous close of ₹270.50.
In December 2024, the fintech company made a spectacular debut on the stock market, with its shares being listed on the exchanges at a premium of around 60%. The NSE listed MobiKwik’s stock at ₹440 per share, which was 57.71% more than the BSE’s listing price of ₹442.25 a share, which was 58.51% higher. The stock closed the first session with an 89% premium, continuing its rise. As of today’s low, the stock has plummeted 70% from its peak of ₹698.30 on December 26, 2024, and is now trading below the IPO price of ₹279 per share.
Mobikwik IPO information
Investors responded quite well to One Mobikwik Systems’ first public offering (IPO). The IPO saw an overall subscription rate of 119.38 times. Specifically, it was subscribed 134.67 times in the retail category, 119.50 times in the Qualified Institutional Buyers (QIBs) category, and 108.95 times in the Non-Institutional Investors (NII) category.