Shares of One MobiKwik Systems Ltd, the parent company of the payments solutions provider MobiKwik, gained 12.7 per cent at 11:00 am on Thursday to a trading price of Rs 277.25 on reports of Net1 Applied Technologies Netherlands BV selling its entire 8 per cent stake in the company.
On Wednesday, a CNBC TV18 report citing sources said that Net1 Applied Technologies Netherlands BV which is a subsidiary of South Africa’s Net1 UEPS Technologies, is likely to sell its entire 8 per cent stake in One Mobikwik Systems Ltd via block deals scheduled for Thursday.
With this block deal, Net1 Applied Technologies Netherlands BV seeks to exit its holding in the stock completely.
According to the report, the shares are expected to be offered at a discount of up to 8.4 per cent to the prevailing market price.
The shareholding data as at the end of March quarter showed that the promoters own around 25.2 per cent in One Mobikwik Systems. Further, FIIs and DIIs hold around 3.9 per cent and 4.6 per cent stake in the firm, while the public shareholding is around 66.4 per cent.
The South Africa-based company became an investor in MobiKwik in 2016. It had put in $40 million or Rs 268 crore in the company to bring its virtual card solution to the Indian payments ecosystem.
Earlier in May, MobiKwik had released its fiscal fourth quarter earnings report wherein it posted a wider consolidated loss of Rs 56.03 crore compared to Rs 67 lakh in Q4FY24. For the full FY25, the company recorded a loss of Rs 121.5 crore. MobiKwik’s revenue from operations went up by 1.43 per cent to Rs 267.78 crore in Q4FY25.