New Delhi: MobiKwik is launching its IPO! Digital payments startup One MobiKwik Systems has filed the Draft Red Herring Prospectus (DRHP) in this regard. The size and worth of MobiKwik IPO is Rs 1,900 crore, according to PTI report.
- MobiKwik IPO will have a fresh issuance of equity shares worth Rs 1,500 crore, as per the DRHP, the PTI reported.
- Apart from the fresh issuance of equity, MobiKwik IPO also has an offer for sale of up to Rs 400 crore by promoters and existing shareholders, the PTI report says.
- Those offering shares through the offer are American Express Travel Related Services Company Inc, Bajaj Finance, Cisco Systems (USA) Pte Ltd, Sequoia Capital India Investment Holdings III, Sequoia Capital India Investments IV, Tree Line Asia Master Fund (Singapore) Pte Ltd, as well as the company’s promoters — Upasana Rupkrishan Taku and Bipin Preet Singh, according to PTI report.
- The equity shares of MobiKwik will be listed on the BSE and NSE.
- MobiKwik Initial Public Offering will also have a reservation for the company’s employees.
- MobiKwik may also consider a pre-IPO placement of such number of equity shares for cash consideration aggregating up to Rs 400 crore at its discretion, as per the DRHP.
- Proceeds from the fresh issue will be used towards funding organic as well as inorganic growth initiatives and general corporate purpose.
- ICICI Securities, BNP Paribas, IIFL Securities, Jefferies India and Credit Suisse Securities (India) Private Limited have been appointed as merchant bankers to advise the MobiKwik on the IPO.
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