Net1 initially invested $40 million (₹268 crore) in Mobikwik in 2016 as part of a strategic partnership, integrating its virtual card technology into the Indian digital payments platform, according to a Moneycontrol report.
This planned divestment comes amid a series of strategic initiatives by Mobikwik. In March 2025, the company announced its entry into the stockbroking sector with the launch of Mobikwik Securities Broking Private Ltd.
Mobikwik made a strong debut on the stock market, listing at a 58% premium to its IPO price of ₹279. However, the stock has since corrected more than 60% from its peak post-listing high of ₹698. On June 18, shares dipped by as much as 8% following the expiry of the mandatory six-month lock-in period for pre-IPO shareholders.
In its first quarterly results as a publicly listed company, reported in January 2025 for the September quarter, Mobikwik posted a net loss of ₹3.6 crore. This was a decline from the ₹5.3 crore net profit recorded in the same quarter the previous year, though the loss narrowed from ₹6.4 crore reported in the June quarter.
