MobiKwik IPO
Payments start up MobiKwik IPO likely by September
Mumbai/IBNS: One MobiKwik System Pvt Ltd is planning an Initial Public Offering by September that could garner between $200 million and $250 million, said a Bloomberg report.
The Indian digital wallet and payments startup is likely to file draft IPO by May that could peg the company's value at $1 billion dollar, the report said, citing sources.
It is also planning to hold a pre-IPO funding round that could give the company a valuation of $700 million, said the report.
However, the size and timing of the fund raising may change.
MobiKwik has a network of 3 million merchants and has more than 107 million users. It registers more than a million transactions per day across its services such as digital wallets, mobile phone top ups and utility bill payments, according to its website.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
