Fintech MobiKwik files DRHP with SEBI to raise Rs 1,900 crore
One MobiKwik Systems Ltd has filed its draft red herring prospectus (DRHP) in connection with its initial public offering (IPO) with the Securities and Exchange Board of India (SEBI).
- Country:
- India
One MobiKwik Systems Ltd has filed its draft red herring prospectus (DRHP) in connection with its initial public offering (IPO) with the Securities and Exchange Board of India (SEBI). The IPO offer size is up to Rs 1,900 crore comprising a fresh issue of equity shares of up to Rs 1,500 crore and an offer for sale of equity shares by certain shareholders of up to Rs 400 crore.
The company said it may consider a pre-IPO placement of equity shares of up to Rs 400 crore. ICICI Securities, BNP Paribas, Credit Suisse Securities India, IIFL Securities and Jefferies India are book running lead managers to the IPO.
Launched in 2009 by Bipin Preet Singh and Upasana Rupkrishan Taku, MobiKwik is one of the largest mobile wallets and buy now pay later (BNPL) players in India. The company leverages big data analytics and deep data science to address unmet credit needs of the fast growing digitally paying users by combining the convenience of everyday mobile payments with the benefits of BNPL.
MobiKwik has raised around 35 million dollars (about Rs 260 crore) since the beginning of 2021 with the most recent fund raise of 20 million dollars (about 150 crore). (ANI)
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
ALSO READ
Sebi slaps Rs 12 lakh penalty on Prabhu Steel Industries, 3 others
Sebi to auction 22 properties of Rose Valley Group on May 20 in bid to recover investors' funds
Premier Energies files for IPO with Sebi, aiming to raise Rs 1,500 crore in funds
Kronox Lab Sciences gets Sebi nod to float IPO
Groww's Nifty Non-Cyclical Consumer Index Fund Approved by SEBI