Mobikwik A Digital Payments Startup Files For Rs 1,900 Cr IPO

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Mobikwik

Mobikwik, a digital payments company, submitted a DRHP with the market regulator on Monday, July 11 for its Rs 1,900 crore IPO. The revelation arrives at a time when major internet companies are preparing to list on Indian stock exchanges.

The offer comprises of a Rs 1,500 crore fresh issuance and a Rs 400 crore secondary sale to existing shareholders. According to the DRHP, the OFS will involve equity sales from Singh and Taku ($190 million), Sequoia ($95 million), Bajaj Finance ($69 million), American Express ($9.9 million), Cisco Systems ($11 million), and Treeline Asia ($24 million).

According to the DRHP, the money will be used to support organic and inorganic growth objectives as well as general business purposes.
According to media sources and publicly accessible data, the company’s network, which includes UPI, Digital Wallet, and other recharge and bill payment services, sees nearly one million daily transactions.