Mobikwik share price tanks nearly 15% to fresh 52-week low on IPO lock-in expiry

Shares of One Mobikwik Systems, a fintech company, tumbled nearly 15% to a fresh 52-week low on Monday, March 17, following the three-month share lock in opening.

According to Nuvama Institutional Equities, 5 million equity shares, representing 6% of the company's total outstanding shares, will be available for trading in the market following the expiry of the three-month lock-in period.

However, the end of a lock-in period signifies that the shares will become eligible to be traded and does not mean that all the shares will be sold.

Mobikwik share price impact

Following the lock-in expiry, Mobikwik share price tumbled almost 15% in intraday deals today. The stock price opened at ₹269.95, lower than the previous close of ₹270.50, and tumbled thereafter to an all-time low of ₹231.05.

The fintech company had a blockbuster stock market debut in December 2024, with the company shares getting listed at a premium of nearly 60% on the bourses.

MobiKwik stock was listed at ₹440 per share on the NSE, a premium of 57.71%, while on the BSE, the stock was listed at ₹442.25 per share, a premium of 58.51%. The stock extended gains in the debut session, ending with an 89% premium.

From its all-time high of ₹698.30, scaled on December 26, 2024, the stock has crashed 70% as of today's low, pushing the stock below the IPO price of ₹279 apiece.

Mobikwik IPO details

The IPO of the fintech company One Mobikwik Systems garnered a fantastic response from investors.

The IPO saw an overall subscription rate of 119.38 times. Specifically, it was subscribed 134.67 times in the retail category, 119.50 times in the Qualified Institutional Buyers (QIBs) category, and 108.95 times in the Non-Institutional Investors (NII) category.

The IPO was open for subscription from December 11 to 13.

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