Peak XV Exits MobiKwik With ₹130 Cr Block Deal: Report

VC firm Peak XV Partners has exited listed fintech major MobiKwik through a ₹130 Cr (about $13.8 Mn) block deal, a day after the fintech company received NBFC licence from the central bank. 

A report by Reuters, citing sources, said Peak XV sold ​6.08 Mn shares at an average price of ₹214 apiece. The shares were lapped up by Florintree ⁠Advisors, Viridian Asset Management, Dymon Asia, and Karma Capital. 

Notably, Peak XV held a 7.89% stake in MobiKwik at the end of the March quarter. 

Peak XV declined to comment on Inc42’s queries on the development. 

Shares of MobiKwik were trading 3.11% higher at ₹231.80 on the BSE at 12:40 IST. The stock surged nearly 11% yesterday after the company said it received the NBFC licence from the RBI. 

(The story will be updated soon)

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