ADIA Divests Entire Stake in MobiKwik: A Major Fintech Exit

The Abu Dhabi Investment Authority (ADIA) sold its entire 2.10% stake in One MobiKwik Systems for Rs 39 crore via open market transaction. BofA Securities and SI Investments bought 1.15% stake. The fintech firm's shares rose by 8.12% on the NSE, despite reporting wider losses in the June quarter.

The Abu Dhabi Investment Authority (ADIA) has fully exited its position in One MobiKwik Systems, offloading its entire 2.10% stake in the fintech company. This move was executed through an open market transaction, yielding Rs 39 crore in proceeds.

In a parallel development, BofA Securities Europe SA and SI Investments Broking Pvt Ltd acquired a cumulative 1.15% interest in the company, investing Rs 22.12 crore in shares priced between Rs 243.61 and Rs 248.42 apiece. However, other buyers involved in the sale remain unidentified.

Despite the transaction, One MobiKwik Systems saw its shares climb by 8.12% to close at Rs 237.74 on the NSE. The company reported a significant widening of its losses to Rs 41.9 crore for the June quarter, compared to Rs 6.6 crore the year prior, with revenue declining by 20.7% year-over-year.

(With inputs from agencies.)