Shares of One MobiKwik Systems Ltd., parent company of payment solutions provider MobiKwik surged another 6% on Thursday, December 26, after a block deal that took place in the stock.
As many as 18.6 lakh shares or 2.4% of the total equity of MobiKwik changed hands in a block deal that took place in the stock on Thursday.
The shares changed hands at an average price of ₹635 per share, taking the total transaction value to ₹118 crore.
The stock surged as much as 6.5% post the block deal. Buyers and sellers in the transaction are not officially known.
Shares of One MobiKwik Systems are trading 5% higher at ₹638.35. The stock made an intraday high of ₹648.3.
MobiKwik shares made their stock market debut last Wednesday on December 18, during which the stock surged 90% from its issue price.
Over the last six trading sessions, shares of MobiKwik have declined only once on December 20.
With Thursday’s surge, the stock has risen 130% from its IPO price of ₹279.
MobiKwik’s IPO had received a stellar response from investors, as the ₹572 crore fresh issue of shares had seen subscription of over 100 times the shares on offer for all the shareholder divisions.
Content retrieved from: https://www.cnbctv18.com/market/mobikwik-share-price-doubles-from-ipo-rate-block-deal-118-crore-buyer-seller-19529734.htm.
