MobiKwik, a fintech company, has submitted its draft red herring prospectus (DRHP) for an initial public offering (IPO) of Rs 700 crore to the Securities and Exchange Board of India (SEBI).
Mobikwik intends to raise 700 crore through a new equity share offering; an offer for sale (OFS) component is not present. As stated in the DRHP, the business may proceed with a pre-IPO placement of up to ₹140 crore following consultation with the book running lead managers (BRLMs), as reported by livemint.
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MobiKwik, which was founded in 2009 by Bipin Preet Singh and Upasana Taku, has amassed 135 million registered members and is now a reputable platform.
Users can easily make payments for their everyday needs, such as utility bills, e-commerce, food delivery, and shopping at small and large retail chains, as well as mom-and-pop(Kirana) stores across our 4 million-strong merchant network.
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About MobiKwik
Payments, digital credit, and investments are just a few of the financial solutions that MobiKwik, a FinTech platform, provides to businesses and people alike.
