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One MobiKwik Systems Ltd has filed its draft red herring prospectus (DRHP) in connection with its initial public offering (IPO) with the Securities and Exchange Board of India (SEBI).The IPO offer size is up to Rs 1,900 crore comprising a fresh issue of equity shares of up to Rs 1,500 crore and an offer for sale of equity shares by certain shareholders of up to Rs 400 crore.The company said it may consider a pre-IPO placement of equity shares of up to Rs 400 crore.ICICI Securities, BNP Paribas, Credit Suisse Securities India, IIFL Securities and Jefferies India are book running lead managers to the IPO.Launched in 2009 by Bipin Preet Singh and Upasana Rupkrishan Taku, MobiKwik is one of the largest mobile wallets and buy now pay later (BNPL) players in India.The company leverages big data analytics and deep data science to address unmet credit needs of the fast growing digitally paying users by combining the convenience of everyday mobile payments with the benefits of BNPL.MobiKwik has raised around 35 million dollars (about Rs 260 crore) since the beginning of 2021 with the most recent fund raise of 20 million dollars (about 150 crore).( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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Bipin preet singh, Latest News

Business :MobiKwik launches 'MobiKwik Wali Diwali DealSeManao'

MobiKwik, one of the largest mobile wallets and Buy Now Pay Later (BNPL) Fintech in India, today announced its festive campaign "MobiKwik Wali Diwali #DealSeManao", replete with deals on credit cards, EMIs, cashback offers and interest-free credit on ...

Business :Fintech MobiKwik files DRHP with SEBI to raise Rs 1,900 crore

One MobiKwik Systems Ltd has filed its draft red herring prospectus (DRHP) in connection with its initial public offering (IPO) with the Securities and Exchange Board of India (SEBI). ...