Abu Dhabi Investment Authority (ADIA) has sold its entire 2.1% stake in listed fintech company MobiKwik for Rs 39 crore through an open market transaction.

According to bulk deal data available on the NSE, ADIA divested a little over 16.44 lakh equity shares at Rs 238.45 apiece on Monday.

ADIA had first invested in MobiKwik in 2021, putting Rs 14.89 crore at a $700 million valuation.

Meanwhile, BofA Securities Europe SA and SI Investments Broking Pvt Ltd purchased a total of 9 lakh shares or 1.15% stake in MobiKwik.

Shares of MobiKwik on Tuesday were trading at Rs 268.97 apiece, up 12.89%, on the NSE in afternoon trade.

In June, South Africa-based Net1 Applied Technologies fully exited its investment in MobiKwik after nearly eight years at a loss.

Last month, MobiKwik moved the Delhi High Court against its IPO book-running lead manager, DAM Capital Advisors, alleging that the firm has withheld Rs 42 crore meant for IPO-related expenses.

MobiKwik, which debuted on the bourses in December 2024 at Rs 444 per share -- a 59% jump from its issue price -- witnessed strong post-listing momentum, touching a high of Rs 698. However, the stock is trading at a much lower price.