New Delhi. The country’s IPO market is out. One after the other, many companies are bringing their initial public offering ie IPO. Now digital payment company Mobikwik is preparing to bring IPO. The company has got approval from the country’s market regulator Securities and Exchange Board of India (SEBI) for an IPO of Rs 1,900 crore.
Sources said that MobiKwik plans to launch an IPO before Diwali. The Gurugram-based company had submitted DRHP to SEBI in July for IPO. MobiKwik has said in the documents submitted for the IPO that its business will benefit from digital payments, online shopping and increased use of the Internet.
Also read- Mutual Fund- This company launched Nifty Healthcare ETF, invest with just Rs 500, will be closed on October 20
The company will bring 1900 crore IPO
Rs 1,900 crore will be raised through this IPO. In this, new shares worth Rs 1,500 crore will be issued and Rs 400 crore will be offered for sale by existing investors. MobiKwik last month raised $20 million in funding from the Abu Dhabi Investment Authority. For this, Mobikwik was valued at $ 700 million.
Also read- If you need money, withdraw PF money sitting at home, you will get Rs 1 lakh in 1 hour, know what is the process?
In the last financial year, MobiKwik’s total income had declined by 18 per cent to around Rs 302 crore. Its loss increased by 12 per cent to Rs 111 crore.
Read Hindi News Online Watch More Live TV on Hindi website. Know related to country and abroad and your state, Bollywood, sports world, business News in Hindi.