Mobikwik shares slide 6% as Net1 Applied Technologies likely sells 9% stake via block deal

One Mobikwik Systems’ shares plummeted 6.2% following a block deal where 8.98% of the company’s equity changed hands, reportedly with Net1 Applied Technologies as the seller. The deal is valued at approximately Rs 161.20 crore. This stake sale occurs amidst strategic moves by Mobikwik, including entering stockbroking, and follows a widened net loss reported in the recent March quarter results.