2024-09-26 01:50:35
New Delhi: Gurugram-based company Mobikwik has got approval to raise Rs 700 crore through IPO. The Securities and Exchange Board of India (SEBI) has given approval to the company. Mobikwik is a digital payment platform that connects customers and merchants. The company had re-applied to SEBI for IPO on 4 January 2024. In this way, this was Mobikwik’s second attempt at public listing. Earlier, the company had filed its first draft prospectus in 2021. Then the company wanted to raise Rs 1,900 crore. Mobikwik is a payment platform like Paytm, PhonePe and Freecharge. But, its scale is small. It has about 14.6 crore users. However, the company wants to build a small but focused fintech business in payments, instant credit and personal loans. Earlier this year, Mobikwik also received in-principle approval from the Reserve Bank of India for a payment aggregator license for its payment gateway subsidiary JakPay.
SEBI sent final observation on 19 September
Mobikwik’s IPO will be worth Rs 700 crore. SEBI has given the company the green signal for the IPO. Mobikwik filed its draft prospectus in January this year. The company wants to raise Rs 700 crore by issuing new shares. The regulator sent its ‘final observation’ to the company on September 19.
IPO of Wari Energies also approved
Apart from Mobikwik Systems, SEBI has also approved the IPO of solar panel maker Waaree Energies. According to the draft documents (DRHP) of Waaree Energies, new shares worth Rs 3,000 crore will be issued in its proposed IPO. Apart from this, the promoters and existing shareholders will also bring an offer for sale (OFS) of 32 lakh equity shares.