Peak XV Partners sold 1.5% stake in fintech company One Mobiquik Systems for Rs 82 crore through open market transactions on Thursday.
Peak XV Partners (formerly Sequoia India and Southeast Asia) through its arm-Peak XV Partners Investment Holdings III offloaded 12.01 lakh shares or 1.55% stake in One MobiKwik Systems through a bulk deal on the National Stock Exchange (NSE).
The shares were disposed of at an average price of Rs 679.38 per share, taking the value to Rs 81.63 crore.
After the transaction, Peak XV Partners’ holding in Gurugram-based MobiKwik has come down from 2.81% to 1.26%.
The details of MobiKwik’s share buyers could not be ascertained with the exchange.
Shares of MobiKwik Systems rose 2.40% to close at Rs 623.50 on the NSE.
Last week, shares of MobiKwik listed with a premium of around 60%.
The initial public offering (IPO) by MobiKwik was a fresh issue of equity shares of up to Rs 572 crore with absolutely no offer-for-sale (OFS) component.
Founded by Bipin Preet Singh and Upasana Taku, MobiKwik is a digital banking platform, offering a wide range of financial products for both consumers and merchants, including payments, digital credit, and investments.