MobiKwik DRHP gets Sebis nod; IPO may hit market in November 2nd week
The SEBI has issued final observation letter on Draft Red Herring Prospectus (DRHP) of One MobiKwik Systems Limited (MobiKwik). Company may launch IPO in second week of November.
The Securities and Exchange Board of India (SEBI) has issued final observation letter on Draft Red Herring Prospectus (DRHP) of One MobiKwik Systems Limited (MobiKwik). Company may launch IPO in second week of November.
Gurgaon based digital payments company backed by Sequoia Capital and Bajaj Finance had filed DRHP in July.
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Company has a plan to issue Rs 1900 crores from market in which Rs 1500 crores is fresh equity and around Rs 400 crores will be offer for sale from existing investors.
OFS of Rs 400 crore includes Rs 9.9 crore by American Express, Rs 68.9 crore by Bajaj Finance, Rs 111 crore by founder Bipin Preet Singh, Rs 11 crore by Cisco Systems, Rs 94 crore by Sequoia Capital, Rs 24 crore by Treeline Asia.
MobiKwik, is one of the largest player in mobile wallet (MobiKwik Wallet) and Buy Now Pay Later (BNPL) in India.
Mainly company focused to cater demand of fast growing segment online payment segment. Company is giving option of Buy Now Pay Later with mobile payment.
Several tech companies are planning to come out with IPO this year especially after Zomato's successful listing.
Paytm, Policy Bazaar, Oyo Homes have already filed DRHP with Sebi. Paytm and Policy bazaar may also get approval soon.
(Reported by- Tarun Sharma)
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