Mobikwik shares slide 6% as Net1 Applied Technologies likely sells 9% stake via block deal

Shares of One Mobikwik Systems slid 6.2% to their day’s low of Rs 230.65 on the BSE on Thursday after 69.76 lakh shares or 8.98% of the company’s equity reportedly changed hands via a block deal.

According to CNBC-TV18 reports, Net1 Applied Technologies Netherlands BV, a subsidiary of South Africa’s Net1 UEPS Technologies, is the likely seller in the transaction.

Reports suggest that the deal is valued at approximately Rs 161.20 crore and took place at a price of Rs 231 per share.


However, the official parties to the transaction and other details are not yet known.

Net1 had invested $40 million (approximately Rs 268 crore) in Mobikwik in 2016 as part of a strategic partnership aimed at integrating its virtual card technology with the Indian digital payments platform.

This planned stake sale comes as Mobikwik undertakes a series of strategic moves. In March 2025, the company entered the stockbroking space by launching Mobikwik Securities Broking Private Ltd.

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Mobikwik made a strong debut on the stock exchanges earlier this year, listing at a 58% premium to its IPO price of Rs 279. However, the stock has since declined over 60% from its post-listing high of Rs 698.

Last month, the company reported its March quarter results — its second earnings report since listing.

Mobikwik's net loss widened significantly to Rs 56 crore in Q4, compared to a net loss of just Rs 67 lakh in the same quarter last year. Revenue rose 2.6% year-on-year, while Payments GMV surged 2.3 times compared to the year-ago period. However, EBITDA stood at a negative Rs 45.8 crore due to lower contribution margins.

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One Mobikwik Systems shares price target

According to Trendlyne, the average target price for Mobikwik shares is Rs 500, implying an upside potential of around 104%. One analyst currently has a ‘Strong Buy’ rating on the stock.

From a technical perspective, the Relative Strength Index (RSI) stands at 40.5, indicating the stock is in neutral territory. The Moving Average Convergence Divergence (MACD) is at -4.4, below both the signal and center lines — a sign of bearish momentum.

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