Payments firm MobiKwik files for ₹1,900 crore IPO, reportedly to seek $1 billion valuation
- 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.
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.
|Investors looking to offload their shareholdings in MobiKwik IPO|
|Stakeholders||Offer 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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