Delhi Delhi. Gurugram-based company One Mobikwik Systems Ltd, known for its payment platform, is gearing up for its public offering. The company aims to raise Rs 700 crore through an initial public offering (IPO).
Regulatory green signal
MobiKwik has received final observation from the Securities and Exchange Board of India (SEBI) regarding its IPO. This is after re-filing its IPO papers earlier this year for January 4, 2024.
The company is set to issue fresh equity shares, with no existing shares being sold by existing stakeholders, thereby leading to fresh infusion of capital.
Details of the Public Issue
The proceeds from this IPO will be used as follows:
Financial Services Expansion – Rs 250 crore; To strengthen its offering in the financial sector.
Payment service enhancement – Rs 135 crore; To improve services for seamless transactions for users.
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