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.
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).
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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|
|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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