Gurugram based Fintech Company Mobikwik files DRHP with SEBI for the proposed IPO; Key Details here

Mobikwik is into Technology Fintech and is looking raise funds through Fresh Issue

MobikwikIPO: Fresh Issue of Equity shares aggregating up to Rs.700 crores IPO

Mobikwik IPO: One Mobikwik Systems Limited has filed Draft Red Herring Prospectus (DRHP) for proposed initial public offer (IPO) and raise funds through an offer of equity share capital having face value of Rs. 2 per share via initial public offering.

Promoters of Mobikwik are Bipin Preet Singh, Upasana Rupkrishan Taku, Koshur Family Trust and Narinder Singh Family Trust and holds 34.21% stake in the company.

Key Details:

• Initial Public Offer comprising of a Fresh Issue of Equity Shares aggregating up to Rs 700 crores.
• SBI Capital, DAM Capital have been appointed as lead merchant bankers for the proposed IPO.
• It has appointed KFin Technologies Ltd. as Registrar and Share transfer Agent.
• Company is yet to finalize issue size and some other important details relating to the IPO.

Details about upcoming IPO:
As per the details available in DRHP, fundraising will consist of an Fresh Issue aggregating Rs. 700 Crs andby Nil as issue is completely fresh issue...

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Objects of the issue:
1) Organic growth capex of a) Rs150 cr for financial services b) Rs135 cr for payment services business , 2) Rs107 cr for R&D, 3) Rs70.2 cr capex for payment devises business and 4) general corporate purpose.

About Company:
Established in 2008, One Mobikwik Services is a payment service provider and a financial services player into FinTech space. Its paymnet services are under MobiKwik Wallet, UPI, cards and MobiKwik ZIP, consumers make payments of utility bills, to merchants and money transfers. Merchants can collect payments from consumers using aforesaid modes online or through QR codes, Soundbox and EDC devices. Financial services are through MobiKwik ZIP (pay-later), ZIP EMI (personal loans) and Merchant Cash Advance (merchant loans), distribute credit from our lending partners to consumers and merchants. Also company distribute FDs, insurance, MFs, digital gold and enable personal finance management via Lens/ Lens.ai.

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About Industry:
India’s consumer internet industry will maintain a high growth trajectory, eventually reaching USD 600 billion or moreby Fiscal 2028. The overall Indian e-commerce market is expected to become USD 190-200 billion by Fiscal 2028. Onconsumer payments, Redseer estimates that wallet transaction value will reach approximately 70-75 billion in FY28P.On digital credit, the total value of disbursed loans increased by about 41% compared to FY21, increasing from USD5.8 billion in Fiscal 2021 to USD 11.6 billion in Fiscal 2023. In Fiscal 2028, about 4% of the total retail lending isexpected through digital channels.

Source: SEBI, BSE, NSE, DRHP, Mobikwik, Industry Data

Disclaimer: Above article only publishes details about the IPO for educational purpose and doesn't solicit or invite any interest to invest. Please visit respective sources to verify and know more details about the IPO. We advise investors to take opinion from certified/SEBI registered experts before taking any investment decisions.