Net1 Exits MobiKwik, Sells Entire Stake for INR 143 Cr The company sold its entire 8% stake — around 62.15 lakh shares — via a block deal on Thursday, at INR 230.16 per share.
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South Africa-based Net1 Applied Technologies has fully exited its investment in Indian fintech company MobiKwik. The company sold its entire 8% stake — around 62.15 lakh shares — via a block deal on Thursday, at INR 230.16 per share.
The total deal value stood at approximately INR 143 crore, according to data from the National Stock Exchange (NSE).
Net1 had invested USD 40 million (roughly INR 270 crore at the time) in MobiKwik back in 2016. The move aimed to bring its virtual card and financial inclusion technologies to India through the fintech platform. However, with this exit, Net1 has incurred a loss on its investment.
MobiKwik made its stock market debut in December 2024 at INR 444, a 59% jump over its issue price. The stock even touched a high of INR 698 post-listing but has since seen significant volatility. It currently trades around INR 261.
On the financial front, MobiKwik reported flat Q4 FY25 revenue of INR 268 crore. However, annual revenue for FY25 rose nearly 34% to INR 1,192 crore. Despite the growth, the company posted an INR 56 crore loss in the fourth quarter.
