Mobikwik Share Price: Shares of One Mobikwik Systems Ltd extended gains for the second straight session on March 19. The stock surged nearly 19 per cent to hit an intraday high of Rs 354.4 apiece on the NSE.
Mobikwik Share Price Increases Nearly 19 Per Cent As Stock Extends Gains
The company’s shares have bounced back more than 53 per cent from their all-time low levels. On March 17, the stock hit its all-time low of Rs 231.1 apiece on the NSE, as its three-month lock-in period ended
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At the intraday high level, the stock is trading close to its upper circuit level of Rs 357.5 apiece on the NSE. Earlier on March 19 the stock managed to snap its losing streak and was locked at its upper circuit limit of Rs 357.5 apiece. The stock has gained over 42 per cent in its two-session rally. A demand for Mobikwik's shares also contributed to the rally as 429.13 lakh shares of the company changed hands on the NSE.
The company’s shares have bounced back more than 53 per cent from their all-time low levels. On March 17, the stock hit its all-time low of Rs 231.1 apiece on the NSE, as its three-month lock-in period ended. A lock-in period is a time period in which investors such as promoters and early-stage investors, are not allowed to sell their holdings. Lock-in periods typically range from 90 days to a year. Once the lock-in period ends, investors can sell the shares they own. Typically lock-in periods are put in place to stabilise the stock price and boost investor confidence.
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Mobikwik IPO
One Mobikwik Systems Ltd raised Rs 572 crore through its IPO. The public issue consisted of a completely fresh issue of 2.05 crore shares. Mobikwik IPO had an issue price of Rs 279 per share. The stock made its D-street debut on December 18, 2024. Shares of the company debuted at Rs 440 apiece on the NSE at a premium of nearly 58 per cent. The stock made its debut on the BSE at a premium of over 58 per cent at Rs 442.25 apiece on the BSE.
Despite the two-day rally, the stock is trading more than 18 per cent below its listing price on the NSE. However, the stock is currently trading over 27 per cent above its issue price of Rs 279 apiece.
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Mobikwik Share Price History
On a Year-to-Date basis shares of Mobikwik Systems are trading over 44 per cent lower on the NSE. The stock has declined over 24 per cent in the past six months. In a month the company’s shares have gained more than 4 per cent. In five days the stock has traded higher by over 21 per cent.
Shares of Mobikwik closed higher by 9.3 per cent at Rs 325.65 apiece on the NSE.
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