One MobiKwik Systems shares surge 12% following ADIA stake sale
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Shares of One MobiKwik Systems surged as much as 12% to an intraday high of Rs 266.55 on Tuesday, following the exit of Abu Dhabi Investment Authority (ADIA) from the fintech firm. However, by 11:20 am, the rally eased, with the stock trading 8.5% higher at Rs 258. On Monday, ADIA sold its entire 2.10% stake in One MobiKwik Systems, offloading approximately 16.44 lakh equity shares worth Rs 39.21 crore in an open market transaction. The shares were sold at an average price of Rs 238.45 apiece, according to bulk deal data available on the NSE. Meanwhile, BofA Securities Europe SA and SI Investments Broking Pvt Ltd acquired a combined total of 9 lakh shares, representing a 1.15% stake in the company. The shares were purchased in the price range of Rs 243.61 to Rs 248.42, with the combined deal valued at Rs 22.12 crore. Financial Performance Update Last month, One MobiKwik Systems reported a consolidated loss of Rs 41.9 crore for the June qu...