Startup Stories
Mobikwik Stock Jumps 19% as IPO Lock-In Ends—43% Rally in Two Days
Today marked a significant day for Mobikwik as its parent company, One Mobikwik Systems, saw a substantial boost in their stock price. The share rallied by 19%, closing at ₹344.50, which marks a 20% rise from the previous day. This two-day rally has led the company to register an overall gain of 43%. According to reports, this spike is mainly due to the expiry of the IPO lock-in period, which previously prevented some investors from selling their shares. Despite this rebound, the stock remains well below its highest-ever value and continues to face some selling pressure.
Back to the IPO Basics
Mobikwik’s public debut was a ₹572 crore fresh-issue play—2.05 crore shares, no sell-off, all growth fuel.
- Pricing: Set at ₹265-₹279 a pop, it lured retail with a 53-share lot minimum—₹14,787 to get in (Angel One, Dec 10, 2024).
- Timeline: Bidding ran December 11-13, 2024, allotments locked by December 16, and shares hit BSE and NSE on December 18 (Livemint, Dec 18).
- Launch Heat: Listed at ₹440 (NSE)—a 58% premium—then spiked to ₹528 by day’s end, nearly doubling the IPO price (Moneycontrol, Dec 18).
Lock-In Expiry Unleashes the Action
The March 17 lock-in expiry flipped the script—5 million shares, 6% of Mobikwik’s equity, hit the market.
- The Drop: Monday saw a 15% crash to a 52-week low of ₹231.05—selling pressure from freed-up investors tanked it 61% from its ₹698 high on December 26 (Economic Times, March 17).
- The Bounce: Tuesday flipped it—20% upper circuit to ₹298, then Wednesday’s 19% to ₹344.50. Two-day gain: 43%. “Lock-in expiry sparked panic, then bargain-hunting,” an analyst told Moneycontrol (March 18).
- X Pulse: “From ₹231 to ₹344—Mobikwik’s a rollercoaster,” posted @soumeet_sarkar. Sentiment’s split—relief vs. “still bleeding from the peak” (@siramitji1).
Market Moves and What’s Ahead
The rally’s got legs, but it’s not a full comeback—yet.
- Rebound Vibe: Wednesday’s 14% intraday pop (News18, March 19) shows buyers pouncing—volume hit six times the 10-day average (Moneycontrol, March 17). Stock’s up 49% from Monday’s pit.
- Peak Gap: At ₹344.50, it’s still 51% off that ₹698 high. “Volatility’s the name of the game,” a trader told Livemint (March 18). Q3’s ₹55 crore loss vs. last year’s profit isn’t helping (Economic Times, March 17).
- Outlook: Bulls see India’s fintech boom—90% merchant digital payments by FY28 (Angel One, Dec 10)—lifting Mobikwik’s wallet and ZIP play. Bears flag competition—Paytm, PhonePe—and selling pressure lingering (X, @stockifi_Invest).
Key Takeaways
- Big Win: 43% in two days—₹231 to ₹344.50—post-lock-in chaos.
- Trade Surge: Expiry unlocked 5 million shares, sparking a sell-off, then a rally.
- Next Bet: Growth potential’s there, but ₹698’s a trek—watch earnings and market mood.
The Wrap-Up
The expiry of the IPO lock-in period for Mobikwik has led to a significant increase in its stock price, reflecting increased market confidence and trading activity. Investors and market analysts will be closely watching how the stock performs in the coming days, especially as it continues to face selling pressure. The recent rally indicates a positive outlook, but the stock’s future will depend on continued market stability and the company’s performance.
