Mobikwik Shares Hit Upper Circuit of 20% on March 18

One Mobikwik Systems has experienced significant stock price fluctuations following the expiry of its IPO lock-in period. After hitting a 52-week low of ₹231 on March 17 due to heavy selling pressure, the stock staged a sharp recovery, surging 20% to ₹298 on March 18.

Stock Recovers After Hitting 52-Week Low

Shares of One Mobikwik Systems hit the upper circuit on March 18, rising 20% to ₹298. This follows a sharp 15% decline on March 17, when the stock slumped to a 52-week low of ₹231 amid heavy selling pressure after the 3-month IPO lock-in period ended.

With this rally, the stock has snapped a 5-day losing streak, recovering all losses from the previous session.

Impact of IPO Lock-In Expiry

The lock-in expiry on March 17 resulted in the unlocking of 5 million shares, representing 6% of the company’s total equity. This led to a sharp sell-off as early investors and pre-IPO shareholders exited their holdings.

Despite the recent gains, Mobikwik’s stock remains 32% below its listing price of ₹440, which it had hit in December 2023. However, it is now 7% higher than its issue price of ₹279.

Stock Performance Since Listing

Mobikwik made a strong debut on the NSE in December 2023, listing at ₹440 per share, a 58% premium over its issue price. However, the stock has struggled to maintain momentum and is currently trading more than 50% below its all-time high of ₹698, recorded in December last year.

Conclusion

Mobikwik shares rebounded sharply following the IPO lock-in expiry, but the stock remains significantly below its peak levels. While the surge has helped erase recent losses, its performance post-listing highlights continued volatility in investor sentiment. The coming sessions will determine whether the recovery sustains or selling pressure returns.

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