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Upcoming IPO Latest News: Mobikwik will be listed in the stock market, check the details immediately – Bollywood Keeda

Upcoming IPO Latest News: MobiKwik Systems Limited is located in Gurugram. Unicorn fintech firm One MobiKwik Systems Limited is planning to raise Rs 700 through IPO. To raise this amount, the company has filed a draft paper with SEBI. The company had earlier filed its draft paper in the year 2021. This is the second time the company has filed the draft paper.

Last time the company had postponed its IPO plan due to adverse market conditions. The company also withdrew its draft paper. The company has filed its draft paper today. The company is planning to raise Rs 700 crore in this IPO. The company will issue new equity worth Rs 700 crore.

The company may consider pre-IPO placement of its securities up to Rs 140 crore. If this happens then the company can issue fewer shares. The company will use Rs 250 crore of the funds raised from the IPO to expand its financial services and Rs 135 crore for its business.

Additionally, it will use Rs 135 crore for investment in data, machine learning and artificial intelligence and products and technology and Rs 70.28 crore for general corporate purposes.

About MobiKwik

MobiKwik, the company’s flagship application, gives consumers access to various payment options and finance products across digital credit, investments and insurance. It was founded by Bipin Preet Singh and Upasana Taku. A MobiKwik system’s revenue from operations for the six months ending September 30, 2023, was Rs 381.09 crore and profit after tax was Rs 9.48 crore.

SBI Capital Markets Limited and DAM Capital Advisors Limited are the book-running lead managers, and Link Intime India Private Limited is the registrar for the IPO. It is proposed to list the equity shares of the company on BSE and NSE.

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