Payments firm MobiKwik files for ₹1,900 crore IPO, reportedly to seek $1 billion valuation

Payments firm MobiKwik files for ₹1,900 crore IPO, reportedly to seek $1 billion valuation
BCCL

  • The company has made its submissions to the SEBI on Monday.
  • It plans to raise ₹1,500 crore through a fresh issue.
  • American Express and the company’s founders will be looking to sell a part of their shareholdings with the IPO.
Digital wallet and payments company MobiKwik has filed its draft red herring prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI) on Monday, July 12, in order to raise ₹1,900 crore through its initial public offering (IPO).

The company plans to raise ₹1,500 crore through primary issue and the rest ₹400 crore through secondary issue to provide partial exit to a few existing stakeholders American Express, Bajaj Finance, Cisco System, Sequoia Capital and Treeline Asia. The company’s founders Bipin Preet Singh and Upasana Taku will also be selling a part of their shareholding in this issue.
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Investors looking to offload their shareholdings in MobiKwik IPO
StakeholdersOffer for Sale (OFS)
American Express₹9.9 crore
Bajaj Finance₹68.9 crore
Bipin Preet Singh₹111 crore
Upasana Taku₹78 crore
Cisco Systems₹11 crore
Sequoia Capital₹94 crore
Treeline Asia₹24 crore


The Gurgaon-based company's book runners include ICICI Securities, BNP Paribas, Credit Suisse, and Jefferies. The company could seek a valuation of $1 billion, as per a Bloomberg report.
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