One MobiKwik Systems Unlisted Shares
MobiKwik Secures SEBI Approval For IPO To Raise Rs 700 Cr
BW Disrupt
2 min read
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.
MobiKwik's Rs 700 crore IPO will strengthen financial services, technology, and payment operations.
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