Peak XV Partners sells 1.5% stake in MobiKwik for Rs 82 crore

Peak XV Partners on Thursday divested 1.5 per cent stake in fintech company One MobiKwik Systems for Rs 82 crore through an open market transaction. Peak XV Partners (formerly Sequoia India & Southeast Asia) through its arm -- Peak XV Partners Investment Holdings III -- offloaded 12.01 lakh shares, or 1.55 per cent, stake in One MobiKwik Systems through a bulk deal on the National Stock Exchange (NSE).

The shares were disposed of at an average price of Rs 679.38 apiece, taking the deal value to Rs 81.63 crore.

After the transaction, Peak XV Partners' holding in Gurugram-based MobiKwik has declined to 1.26 per cent from 2.81 per cent.

Details of buyers of MobiKwik's shares could not be ascertained on the exchange.

One MobiKwik Systems shares rose 2.40 per cent to close at Rs 623.50 apiece on the NSE.

Last week, MobiKwik's shares listed with a premium of nearly 60 per cent.

The initial public offering (IPO) by MobiKwik was entirely a fresh issuance of equity shares worth up to Rs 572 crore with no offer-for-sale (OFS) component.

Founded by Bipin Preet Singh and Upasana Taku, MobiKwik is a digital banking platform, offering a wide range of financial products for both consumers and merchants, including payments, digital credit, and investments.