MobiKwik shares fall 2% after technical glitch triggers unauthorised payments; check details

Mobikwik share price: Shares of One Mobikwik Systems slipped as much as 1.86% to an intra-day low of ₹296.20 apiece on the National Stock Exchange (NSE) on Friday, September 19.

The stock was trading 1.12% lower at ₹298.44 per equity share, as of 11:11 pm.

This comes after the digital banking platform confirmed that a technical glitch led to unauthorised payouts to some merchants in and around the Nuh district of Haryana last week, on September 11-12, as stated in a regulatory filing on Thursday.

As per a police report, accessed by news agency PTI, more than ₹40 crore was siphoned off from the company due to the glitch.

Upon identifying the technical error, which incorrectly marked failed transactions as successful, the company took corrective actions and resolved the issue within 45 minutes in the early hours of September 12.

According to Mobikwik, while no legitimate user or merchant suffered any financial loss, a few exploited the glitch to gain undue financial benefit.

The firm filed an FIR with local authorities after noticing the unusual transactions, which led to the arrest of six people, and over 2,000 merchant bank accounts were frozen. Furthermore, it added that active recovery efforts are ongoing, and a portion of the funds has been recovered.

The digital wallet company clarified that the incident did not impact any UPI, wallet payment, or user account balances, adding that the glitch also didn’t compromise customer data or credentials.

“As this was an internal issue, no banks or financial institutions were affected,” the filing stated.

It was not a cybersecurity breach, but rather a limited internal processing error, Mobikwik further clarified.

“MobiKwik has strengthened its monitoring systems and implemented additional control measures. We would like to reassure everyone that the MobiKwik app is 100% safe and secure for all digital payments,” the filing said.

The share declined 2.37% over the week and 6.11% over a period of six months. On a year-to-date basis, it has fallen as much as 49.85%.

While the scrip touched a 52-week low of ₹219.20 on August 29, 2025, it reached a year’s high of ₹698.30 per equity share on December 26, 2024.

One Mobikwik Systems has a total market capitalisation of ₹2,329.17 crore, as of September 19, 2025, according to data on the NSE.