India, June 18 -- Shares of MobiKwik slumped as much as 9.8% to INR 243 intraday today following the end of the six-month lock-in period for pre-IPO shareholders.

According to Nuvama Alternative & Quantitative Research, 3.8 Cr shares that were under lock-in are now eligible for trading.

The stock recovered slightly later in the day to end today's trading session at INR 245.70 on the BSE, 8.7% lower than its previous close. Nearly 28 Lakh shares of the company were traded today, and its market capitalisation stood at INR 1,908.75 Cr (about $220.7 Mn) at the end of the session.

With this, the stock has fallen almost 12% compared to its IPO issue price of INR 279.

Notably, shares of MobiKwik declined over 5% in the preceding four trading...