Venture capital and growth investing firm Peak XV Partners has fully exited One MobiKwik Systems Ltd through an over ₹130-crore block deal, selling its remaining stake shortly after the fintech secured the non-banking financial services (NBFC) licence.
The investor sold around 6.08 million shares, or about 7.7% of MobiKwik’s equity, at an average price of ₹214 apiece in a transaction executed at 9:15am on 28 April, according to two people aware of the matter.
Buyers included private equity firm Florintree, hedge fund Viridian Asset Management, alternative investment firm Dymon Asia Capital and equity investment management firm Karma Capital, the people said.
The ₹130-crore deal delivered about 3x returns for Peak XV on its investment in the company.
Peak XV’s exit marks the departure of the last major PE fund from MobiKwik’s cap table. In September 2025, Abu Dhabi Investment Authority (ADIA) sold its 2.1% stake in a block deal, after which MobiKwik shares rallied as much as 14%.
Peak XV, formerly Sequoia Capital India & SEA, had been an early backer of MobiKwik and remained invested through the company’s public listing.
Fintech to NBFC
The block sale came a day after MobiKwik announced that the Reserve Bank of India had approved its application for the NBFC licence. Founder Bipin Preet Singh said the firm is now expecting better margins and improved efficiency after it begins lending on its own books.
The company currently distributes personal loans through partner lenders in multiple formats and also facilitates merchant loans on its platform. It has already said it manages key parts of the lending value chain, including sourcing, collections, and underwriting support.
Owning an NBFC could allow it to retain a larger share of lending economics, launch lower-cost credit products and build newer offerings that partner lenders may not always underwrite.
In the December quarter (Q3 FY26), MobiKwik reported consolidated net profit of ₹4 crore on operating revenue of ₹289 crore, compared with a ₹55.3 crore loss a year ago, aided largely by growth in its lending business.
Despite the discounted block price, MobiKwik shares rose sharply on Monday, indicating strong institutional appetite for the stock. Shares of One MobiKwik Systems were trading at around ₹240 in intra-day trade, up 18.5% from Friday’s close of ₹202.22.