Peak XV fully exits Mobikwik in Rs 130 crore block deal

Venture capital firm Peak XV Partners has fully exited from fintech firm One MobiKwik Systems through a block deal of over Rs 130 crore, sources aware of the development said. With this sale, Peak XV has completely exited from the firm, a source said.

Venture capital firm Peak XV Partners has fully exited from fintech firm One MobiKwik Systems through a block deal of over Rs 130 crore, sources aware of the development said. According to sources, Peak XV was one of the early investors in the firm and exited at three times of its investment value. ''Peak XV Partners has sold around 61 lakh shares, about 7.7 per cent of the company's share capital, at an average sale price of Rs 214 apiece. The total deal size is close to Rs 130 crore. With this sale, Peak XV has completely exited from the firm,'' a source said. Peak XV and One Mobikwik declined to comment on the development. Florintree, Viridian Asset Management, Dymon Asia and Karma Capital have bought stakes from Peak XV. The development comes a day after the company announced receiving an NBFC licence from RBI for its new subsidiary- MobiKwik Financial Services Pvt Ltd.