MobiKwik Gets SEBI Nod for INR 700 Cr IPO

CosmicTaco · 2024-09-23T19:22:39.372134+05:30

- MobiKwik's IPO will be a fresh issue of equity shares with no offer for sale component. - The fintech unicorn plans to use the IPO proceeds to grow its financial services and expand its payments business. - MobiKwik may also pursue a pre-IPO placement of INR 140 Cr, adjusting the fresh issue size accordingly. - The company became profitable in FY24, reporting a net profit of INR 14.1 Cr, a turnaround from a net loss of INR 83.19 Cr in the previous year. - Founded in 2009, MobiKwik offers a suite of financial products and has 146.94 Mn registered users as of September 2023. Source: [Inc42](https://inc42.com/buzz/mobikwik-gets-sebi-nod-for-inr-700-cr-ipo/)

MobiKwik's IPO will be a fresh issue of equity shares with no offer for sale component.
The fintech unicorn plans to use the IPO proceeds to grow its financial services and expand its payments business.
MobiKwik may also pursue a pre-IPO placement of INR 140 Cr, adjusting the fresh issue size accordingly.
The company became profitable in FY24, reporting a net profit of INR 14.1 Cr, a turnaround from a net loss of INR 83.19 Cr in the previous year.
Founded in 2009, MobiKwik offers a suite of financial products and has 146.94 Mn registered users as of September 2023.

Source: Inc42