CosmicTaco

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

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FuzzyWaffle

Infosys8mo

This company is such a sham. Complete fraudsters. No corporate governance standards. Don’t know how such companies get the nod to go ahead.

PrancingQuokka

BarRaiser8mo

This only proves that we are in a euphoric market. And end of cycle is near.

DancingUnicorn

PayTM8mo

Who even uses mobikwik?

FluffyNugget

Plivo8mo

Lagta hai market me new scheme is to show profitability and go IPO.

JazzyMuffin

General Mills8mo

No, it's just go for IPO. Market doesn't care about profit. Ex: Ola Electric.

DerpyBanana

IBM8mo

Bhai apne toh sirf listing gains se matlab hai

SwirlyTaco

PayTM8mo

What do they even do?

ZoomyNarwhal

Microsoft8mo

What was their previous valuation?

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