Shares of One MobiKwik Systems Ltd, the parent company of the digital payments platform MobiKwik, surged 20% on Tuesday, October 6, hitting the upper circuit at Rs 242.10. This significant rally was accompanied by strong buying interest and exceptionally heavy trading volumes.
Promoter Increases Shareholding
The sharp upward movement in MobiKwik shares comes on the heels of disclosures that promoter and executive director Upasana Taku had increased her stake in the company. Taku acquired 1.07 lakh equity shares through open-market transactions, valued at approximately Rs 2.12 crore.
- On September 28, Taku purchased 52,000 equity shares for Rs 1.04 crore.
- On September 29, she acquired an additional 55,000 shares worth Rs 1.09 crore.
Both transactions were executed on the National Stock Exchange (NSE). Following these purchases, Upasana Taku's total shareholding in One MobiKwik Systems now stands at 10.24 per cent. Since the company's initial public offering (IPO) in December 2024, she has accumulated a total of 294,177 equity shares.
Market Capitalization and Trading Volumes
Following Tuesday's rally, MobiKwik’s market capitalization crossed Rs 1,900 crore. Trading volumes for the stock saw a substantial increase compared to recent averages. Data showed that over 5.86 crore equity shares, valued at Rs 1,350.85 crore, were exchanged on the NSE, while more than 33.81 lakh equity shares, worth Rs 78.43 crore, were traded on the BSE.
Future Expansion and Profitability
MobiKwik has also outlined its plans to enter the non-banking financial company (NBFC) business. The company stated that its proposed NBFC operations will commence only after it meets all applicable conditions and receives a Certificate of Registration (CoR) from the Reserve Bank of India (RBI). The digital payments firm intends to offer its NBFC services across India, with a strategic focus on Tier-2 and Tier-3 cities.
In a positive financial development, One MobiKwik Systems reported a consolidated net profit of Rs 7.6 crore for the April-June 2026 quarter (Q1FY27). This marks a significant turnaround from a net loss of Rs 419.2 crore recorded in the same quarter a year earlier. Consolidated revenue from operations also saw a modest increase of 3.7 per cent year-on-year, reaching Rs 281.48 crore in Q1FY27, up from Rs 271.36 crore in the corresponding previous quarter.
The return to profitability and the promoter's increased investment underscore MobiKwik's ongoing expansion in digital payments and its strategic move into the lending segment.