At present, more than 30 lakh traders and retailers are associated with MobiKwik. At present, the number of subscribers of Mobikwik is more than 1.07 crores.
Digital payments company MobiKwik Systems has submitted preliminary documents to the Securities and Exchange Board of India (SEBI) to raise Rs 1,900 crore through an initial public offering (IPO). Under the IPO, fresh equity shares worth Rs 1,500 crore will be issued and the promoter and existing shareholders will bring an offer for sale (OFS) of Rs 400 crore.
The company may also consider pre-IPO placement up to Rs 400 crore. If the pre-IPO placement is completed, an equal number of equity shares will be deducted from the fresh issue. One MobiKwik Systems is the country’s leading Mobile Wallet (MobiKwik Wallet) and Buy Now Pay Later (BNPL) company. The shares of the company will be listed on BSE and NSE.
They will collide
Sequoia Capital and Bajaj Finance Limited have major investments in MobiKwik. The direct competition of this company is with payment apps like WhatsApp Pay, Google Pay, Phone Pay, Paytm. According to a report by PwC, India’s digital payments market could reach $2.3 trillion by 2022-2030. In such a situation, there is a big scope for companies providing digital payment facility like MobiKwik.
There are more than 1 crore users
More than 10 lakh transactions are done through MobiKwik every day. Mobile phones can be recharged, bills can be deposited and payments can also be done at many places using MobiKwik. At present, more than 30 lakh traders and retailers are associated with MobiKwik. At present, the number of subscribers of Mobikwik is more than 1.07 crores.
Paytm preparing to bring biggest IPO
Earlier, Paytm has also announced to bring the country’s biggest IPO. Paytm’s board has given in-principle approval to a proposal to raise around Rs 22,000 crore through IPO in the October-December quarter this year. The company’s target is that in this IPO, the market value of its entire venture will be above Rs 2 lakh crore. This will also give an opportunity to existing investors to sell some of their shares.
