Mobikwik IPO: In the last few days, IPOs of many companies have come. If you also like to invest money in IPO, then there is useful news for you. The IPO of Mobikwik, a company providing digital payment service, is going to come soon. This IPO has got approval from SEBI. The size of this IPO of Mobikwik is Rs 700 crore. The face value of the company’s shares has been fixed at Rs 2 per share.
Know the details of IPO
According to the draft papers submitted by the company, the company is going to issue completely fresh shares in this IPO. Out of this IPO of Rs 700 crore, the company is going to spend Rs 250 crore on financial services business. At the same time, Rs 135 crore will be spent to expand the payment service business. Apart from this, some money will be used for payment devices and AI.
Draft papers were submitted this year
Mobikwik is a leading digital payment platform with more than 14 crore users. Draft Red Herring Prospectus (DRHP) for the IPO was filed on 4 January. In this IPO, the company is not going to issue a single share under Offer for Sale. In such a situation, all the money raised through the IPO will go to the company. The company’s investors include big names like Abu Dhabi Investment Authority, Bajaj Finance, Sequoia Capital and Peak XV Partners.
How is the financial position of the company
Mobikwik is a digital service providing company, which started its services in the year 2009. The company competes with companies like Paytm, Google Pay and PhonePe. The company was started by Bipin Preet Singh and Upasana Taku. In the financial year 2023, the company suffered a loss of Rs 83.8 crore. At the same time, in the financial year 2024, the company has made a profit of Rs 14.1 crore.
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