MobiKwik's Rs 700 crore IPO will strengthen financial services, technology, and payment operations.
MobiKwik's Rs 700 crore IPO will strengthen financial services, technology, and payment operations.
One MobiKwik Systems
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Expert Analysis
MobiKwik Secures SEBI Approval for Rs 700 Crore IPO.
Expert Analysis:
SEBI Approval: SEBI approved our initial public offering (IPO) to raise Rs 700 crore, filed on January 4, 2024.
Fresh Issues: The IPO will consist entirely of fresh issues, with no offer-for-sale component.
Pre-IPO Placement: Company may raise an additional Rs 140 crore through a pre-IPO placement, reducing the IPO size accordingly.
Fund Allocation: Proceeds will be allocated as follows: Rs 250 crore for financial services, Rs 135 crore for payment services, Rs 135 crore for technology development, and Rs 70.3 crore for payment devices.
