One MobiKwik Methods shares plummeted 7 per cent to ₹251.70 on Monday as the three-month lock-in period expired, permitting pre-IPO buyers to promote their holdings. The inventory touched an intraday low of ₹231.10, falling beneath its IPO value of ₹269.
Roughly 46 lakh shares, representing 6 per cent of the digital funds firm’s excellent fairness, turned eligible for buying and selling right now. The inventory has now corrected 61 per cent from its post-listing excessive of practically ₹700.
- Additionally learn: All eyes on One MobiKwik Methods itemizing
Heavy buying and selling quantity marked the session, with 76.21 lakh shares altering palms, valued at ₹187.79 crore. The corporate’s complete market capitalisation now stands at ₹1,955.36 crore, with a free float market cap of ₹361.62 crore.
MobiKwik, which went public final quarter, has confronted important promoting stress since its itemizing. The fintech firm operates within the aggressive digital funds area, providing pockets companies, invoice funds and monetary merchandise.
The top of lock-in durations usually creates downward stress on lately listed shares as early buyers get their first alternative to exit positions.
Source link
#MobiKwik #share #Value #Plunges #3month #lockin #period #ends
