ADIA Nets INR 39 Cr After Exiting MobiKwik Amid Mini Rally
Summary
ADIA sold its entire 2.1% stake in MobiKwik through open market transactions and received about INR 39 crore from the exit. BoFA Securities and Musigma Securities picked up the shares in the sale. The move came as MobiKwik’s stock rose sharply for the day after hitting an all-time low in the prior session. The company remains under pressure from weak financial performance, including steep losses and declining revenue in the latest quarter.
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