InMobi is planning an IPO in India next year, targeting a $10 billion valuation, sources told TechCrunch.  The firm, currently domiciled in Singapore, will shift to India and list at the group leve...

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- InMobi is planning an IPO in India next year, targeting a $10 billion valuation, sources told TechCrunch.
- The firm, currently domiciled in Singapore, will shift to India and list at the group level, including its advertising arm and Glance.
- InMobi expects to generate over $700 million in annual revenue by March and has raised less than $300 million to date.
- Founded in 2007, InMobi was the first Indian unicorn and now serves major clients like Mastercard, Samsung, and Coca-Cola.
- Glance, a subsidiary, is piloting in the U.S. and plans to launch a generative AI-powered version to enhance user experience and drive commerce. 

 Source: Techcrunch

InMobi Eyes $10 Billion Valuation in 2025 India IPO

Journalist

InMobi Eyes $10 Billion Valuation in 2025 India IPO- Grapevine

- InMobi, backed by SoftBank, has raised $100 million in debt financing to enhance its AI capabilities and fund AI-focused acquisitions.
- The financing was led by MARS Growth Capital, a joint venture between MUFG and Liquidity Group.
- CEO Naveen Tewari emphasized AI's role in revolutionizing ad engagement and outcomes for consumers, advertisers, and publishers.
- InMobi operates two core businesses: InMobi Advertising and Glance, an AI-powered content discovery platform.
- Glance, with over 300 million users, aims to expand globally, supported by investments from Jio Platforms, Google, and Mithril Capital. 

 Source: [Moneycontrol](https://www.moneycontrol.com/news/business/startup/inmobi-secures-100-million-debt-to-fund-its-ai-efforts-acquisitions-12819183.html)

InMobi Secures $100 Million Debt to Fuel AI Ambitions and Acquisitions

Welcome to Indian Startups's Private Community

Let’s create a list of best startups in terms of tech and its product future possibilities.

India’s Best Startups In Terms Of Tech And Future Product Growth

Software Engineer

Once a poster child among all startups InMobi now seems to have lost its charm. Is everything good and how is current work culture especially for tech and product folks?

How is InMobi doing these days?

Product Manager

Welcome to Software Engineers's Private Community

Preferably in Bangalore. I know the quality of work and work life balance vary across teams in a company, but then my question would be which companies have higher percentage of ‘good’ teams. I am looking for a fresher role.

What are the best tech companies to work for in India

- IndiQube is in advanced talks to finalize merchant bankers and aims to file its DRHP within three months.
- The startup plans to raise INR 1,000 Cr – INR 1,500 Cr from its IPO, mainly through fresh share issuance.
- IndiQube posted a profit of INR 60 Cr in FY24 on an operating revenue of around INR 850 Cr.
- Founded in 2015, IndiQube offers managed office spaces and counts WestBridge Capital and Helion Ventures among its backers.
- The company competes with Awfis and Smartworks, with the latter also filing its DRHP recently. 

 Source: [Inc42](https://inc42.com/buzz/exclusive-coworking-space-provider-indiqube-in-talks-with-bankers-for-inr-1500-cr-ipo/)

IndiQube Eyes INR 1,500 Cr IPO Amidst Indian Bourse Boom

Here's we go with the Grapevine News Bulletin - 5 handpicked scoops! 🗞️ Devour these tidbits in under 3 minutes and get your brain buzzing!

Let's go!

𝟏.⁠ 𝐢𝐱𝐢𝐠𝐨, 𝐚 '𝐜𝐨𝐜𝐤𝐫𝐨𝐚𝐜𝐡 𝐬𝐭𝐚𝐫𝐭𝐮𝐩', 𝐢𝐬 𝐠𝐨𝐢𝐧𝐠 𝐩𝐮𝐛𝐥𝐢𝐜 𝐚𝐟𝐭𝐞𝐫 𝟏𝟖 𝐲𝐞𝐚𝐫𝐬 𝐨𝐟 𝐨𝐩𝐞𝐫𝐚𝐭𝐢𝐨𝐧𝐬

Ixigo, an online travel aggregator, is going public next week, targeting Rs 740 crore ($89 million) primarily through a sale of shares by existing investors.

The IPO is expected to value Ixigo at Rs 3,600 crore ($430 million), 20% higher than its 2021 private valuation. Ixigo's financials show strong growth, with a 32% increase in operating revenue to Rs 501 crore in FY23 and a net profit of Rs 23 crore. Ixigo's valuation appears to be a potential bargain compared to peers like EaseMyTrip and MakeMyTrip.

Existing investors like Elevation Capital and Peak XV Partners are set to make significant returns, with Elevation expected to make a 13X return.

🍇 𝙛𝙤𝙧 𝙏𝙝𝙤𝙪𝙜𝙝𝙩: 𝘾𝙤𝙪𝙡𝙙 𝙞𝙭𝙞𝙜𝙤'𝙨 𝙢𝙤𝙙𝙚𝙨𝙩 𝙫𝙖𝙡𝙪𝙖𝙩𝙞𝙤𝙣 𝙘𝙤𝙢𝙥𝙖𝙧𝙚𝙙 𝙩𝙤 𝙥𝙚𝙚𝙧𝙨 𝙡𝙞𝙠𝙚 𝙈𝙖𝙠𝙚𝙈𝙮𝙏𝙧𝙞𝙥 𝙞𝙣𝙙𝙞𝙘𝙖𝙩𝙚 𝙖 𝙢𝙖𝙧𝙠𝙚𝙩 𝙘𝙤𝙧𝙧𝙚𝙘𝙩𝙞𝙤𝙣 𝙞𝙣 𝙩𝙧𝙖𝙫𝙚𝙡 𝙩𝙚𝙘𝙝 𝙫𝙖𝙡𝙪𝙖𝙩𝙞𝙤𝙣𝙨, 𝙤𝙧 𝙖𝙣 𝙤𝙥𝙥𝙤𝙧𝙩𝙪𝙣𝙞𝙩𝙮 𝙛𝙤𝙧 𝙥𝙤𝙨𝙩-𝙄𝙋𝙊 𝙫𝙖𝙡𝙪𝙚 𝙘𝙧𝙚𝙖𝙩𝙞𝙤𝙣 𝙩𝙝𝙧𝙤𝙪𝙜𝙝 𝙤𝙥𝙚𝙧𝙖𝙩𝙞𝙤𝙣𝙖𝙡 𝙚𝙭𝙘𝙚𝙡𝙡𝙚𝙣𝙘𝙚?

Source: Inc42 - https://bit.ly/3KBzNEM

𝟐. ⁠𝐔𝐧𝐚𝐜𝐚𝐝𝐞𝐦𝐲 𝐜𝐨-𝐟𝐨𝐮𝐧𝐝𝐞𝐫 𝐇𝐞𝐦𝐞𝐬𝐡 𝐒𝐢𝐧𝐠𝐡 𝐬𝐭𝐞𝐩𝐬 𝐝𝐨𝐰𝐧 𝐚𝐬 𝐂𝐓𝐎

The co-founder of the edtech platform Unacademy, Hemesh Singh, is stepping down from his role as Chief Technology Officer (CTO). He will continue in an advisory role at the company, but his future plans are unclear.

Unacademy's focus has shifted more towards the offline market, which is now a central part of their business. The online test-prep operation is expected to decrease in 2023.

There have been other top-level exits at Unacademy recently. The company has raised significant funding over the past few years, with its valuation reaching over $3 billion.

🍇 𝙛𝙤𝙧 𝙏𝙝𝙤𝙪𝙜𝙝𝙩: 𝙃𝙚𝙢𝙚𝙨𝙝'𝙨 𝙚𝙭𝙞𝙩 𝙨𝙞𝙜𝙣𝙖𝙡𝙨 𝙖 𝙨𝙩𝙧𝙖𝙩𝙚𝙜𝙞𝙘 𝙨𝙝𝙞𝙛𝙩 𝙖𝙩 𝙐𝙣𝙖𝙘𝙖𝙙𝙚𝙢𝙮, 𝙛𝙤𝙘𝙪𝙨𝙞𝙣𝙜 𝙢𝙤𝙧𝙚 𝙤𝙣 𝙤𝙛𝙛𝙡𝙞𝙣𝙚 𝙜𝙧𝙤𝙬𝙩𝙝 𝙧𝙖𝙩𝙝𝙚𝙧 𝙩𝙝𝙖𝙣 𝙞𝙩𝙨 𝙙𝙞𝙜𝙞𝙩𝙖𝙡 𝙧𝙤𝙤𝙩𝙨. 𝙃𝙤𝙬 𝙬𝙞𝙡𝙡 𝙩𝙝𝙞𝙨 𝙤𝙛𝙛𝙡𝙞𝙣𝙚 𝙥𝙞𝙫𝙤𝙩 𝙞𝙢𝙥𝙖𝙘𝙩 𝙤𝙩𝙝𝙚𝙧 𝙚𝙙𝙩𝙚𝙘𝙝 𝙥𝙡𝙖𝙮𝙚𝙧𝙨, 𝙖𝙣𝙙 𝙙𝙤𝙚𝙨 𝙞𝙩 𝙞𝙣𝙙𝙞𝙘𝙖𝙩𝙚 𝙖 𝙗𝙧𝙤𝙖𝙙𝙚𝙧 𝙩𝙧𝙚𝙣𝙙 𝙤𝙛 𝙙𝙞𝙜𝙞𝙩𝙖𝙡-𝙛𝙞𝙧𝙨𝙩 𝙘𝙤𝙢𝙥𝙖𝙣𝙞𝙚𝙨 𝙚𝙢𝙗𝙧𝙖𝙘𝙞𝙣𝙜 𝙝𝙮𝙗𝙧𝙞𝙙 𝙢𝙤𝙙𝙚𝙡𝙨 𝙛𝙤𝙧 𝙨𝙪𝙨𝙩𝙖𝙞𝙣𝙖𝙗𝙡𝙚 𝙜𝙧𝙤𝙬𝙩𝙝?

Source: The Arc - https://bit.ly/3VBjrCt

𝟑.⁠ ⁠𝐋𝐞𝐧𝐝𝐢𝐧𝐠 𝐚𝐩𝐩 𝐅𝐢𝐛𝐞 𝐫𝐚𝐢𝐬𝐞𝐬 $𝟗𝟎 𝐦𝐧 𝐚𝐬 𝐥𝐨𝐚𝐧 𝐛𝐨𝐨𝐤 𝐝𝐨𝐮𝐛𝐥𝐞𝐬

The lending app Fibe has raised $90 million in a new funding round, nearly doubling its valuation to close to $600 million. The round was led by TR Capital, Amara Partners, and Trifecta Capital, with existing investors TPG and Norwest also participating. 

Fibe provides unsecured personal loans of up to Rs 5 lakh, competing with players like KreditBee and Moneyview. It is profitable, with a net profit of Rs 88 crore for the 9 months ending December 2023. Its loan book has more than tripled in the last 2 years, reaching Rs 3,431 crore as of December 2023.

The company had to write off loans worth Rs 94 crore in the 9 months ending December 2023, over twice the Rs 44.5 crore in FY23. Its NBFC had a gross NPA of 2.86% in December 2023, down from 3.5% in March 2023.

🍇 𝙛𝙤𝙧 𝙏𝙝𝙤𝙪𝙜𝙝𝙩: 𝙁𝙞𝙗𝙚'𝙨 𝙜𝙧𝙤𝙬𝙩𝙝 𝙖𝙣𝙙 𝙥𝙧𝙤𝙛𝙞𝙩𝙖𝙗𝙞𝙡𝙞𝙩𝙮 𝙨𝙝𝙤𝙬𝙘𝙖𝙨𝙚 𝙩𝙝𝙚 𝙢𝙖𝙨𝙨𝙞𝙫𝙚 𝙥𝙤𝙩𝙚𝙣𝙩𝙞𝙖𝙡 𝙞𝙣 𝙄𝙣𝙙𝙞𝙖'𝙨 𝙙𝙞𝙜𝙞𝙩𝙖𝙡 𝙡𝙚𝙣𝙙𝙞𝙣𝙜 𝙨𝙥𝙖𝙘𝙚, 𝙙𝙚𝙨𝙥𝙞𝙩𝙚 𝙧𝙞𝙨𝙞𝙣𝙜 𝙉𝙋𝘼𝙨. 𝘼𝙨 𝙙𝙞𝙜𝙞𝙩𝙖𝙡 𝙡𝙚𝙣𝙙𝙚𝙧𝙨 𝙡𝙞𝙠𝙚 𝙁𝙞𝙗𝙚 𝙨𝙘𝙖𝙡𝙚 𝙧𝙖𝙥𝙞𝙙𝙡𝙮, 𝙝𝙤𝙬 𝙬𝙞𝙡𝙡 𝙩𝙧𝙖𝙙𝙞𝙩𝙞𝙤𝙣𝙖𝙡 𝙗𝙖𝙣𝙠𝙨 𝙖𝙣𝙙 𝙉𝘽𝙁𝘾𝙨 𝙧𝙚𝙨𝙥𝙤𝙣𝙙 𝙩𝙤 𝙢𝙖𝙞𝙣𝙩𝙖𝙞𝙣 𝙩𝙝𝙚𝙞𝙧 𝙢𝙖𝙧𝙠𝙚𝙩 𝙨𝙝𝙖𝙧𝙚 𝙞𝙣 𝙥𝙚𝙧𝙨𝙤𝙣𝙖𝙡 𝙡𝙤𝙖𝙣𝙨?

Source: Entrackr - https://bit.ly/3X9ezpg 

𝟒.⁠ ⁠𝐇𝐞𝐫𝐨 𝐌𝐨𝐭𝐨𝐂𝐨𝐫𝐩-𝐛𝐚𝐜𝐤𝐞𝐝 𝐀𝐭𝐡𝐞𝐫 𝐫𝐞𝐩𝐨𝐫𝐭𝐬 𝐟𝐥𝐚𝐭 𝐫𝐞𝐯𝐞𝐧𝐮𝐞𝐬 𝐢𝐧 𝐅𝐘𝟐𝟒

Ather Energy's revenues were flat at ₹1,753 crore in FY24, down 2% from the previous year

This is due to increasing competition in the Indian electric two-wheeler market, with players like Ola Electric, Bajaj, and TVS vying for market share

Ather had seen a massive 4x revenue growth in the previous year, from ₹408 crore to ₹1,784 crore

🍇 𝙛𝙤𝙧 𝙏𝙝𝙤𝙪𝙜𝙝𝙩: 𝘼𝙩𝙝𝙚𝙧'𝙨 𝙛𝙡𝙖𝙩 𝙜𝙧𝙤𝙬𝙩𝙝 𝙞𝙨 𝙖 𝙬𝙖𝙠𝙚-𝙪𝙥 𝙘𝙖𝙡𝙡, 𝙝𝙞𝙜𝙝𝙡𝙞𝙜𝙝𝙩𝙞𝙣𝙜 𝙩𝙝𝙚 𝙛𝙞𝙚𝙧𝙘𝙚 𝙘𝙤𝙢𝙥𝙚𝙩𝙞𝙩𝙞𝙤𝙣 𝙖𝙣𝙙 𝙥𝙤𝙩𝙚𝙣𝙩𝙞𝙖𝙡 𝙨𝙖𝙩𝙪𝙧𝙖𝙩𝙞𝙤𝙣 𝙞𝙣 𝙄𝙣𝙙𝙞𝙖'𝙨 𝙚𝙡𝙚𝙘𝙩𝙧𝙞𝙘 𝙩𝙬𝙤-𝙬𝙝𝙚𝙚𝙡𝙚𝙧 𝙢𝙖𝙧𝙠𝙚𝙩. 𝙒𝙞𝙩𝙝 𝙢𝙪𝙡𝙩𝙞𝙥𝙡𝙚 𝙥𝙡𝙖𝙮𝙚𝙧𝙨 𝙫𝙮𝙞𝙣𝙜 𝙛𝙤𝙧 𝙙𝙤𝙢𝙞𝙣𝙖𝙣𝙘𝙚, 𝙬𝙞𝙡𝙡 𝙬𝙚 𝙨𝙚𝙚 𝙘𝙤𝙣𝙨𝙤𝙡𝙞𝙙𝙖𝙩𝙞𝙤𝙣 𝙞𝙣 𝙩𝙝𝙚 𝙀𝙑 𝙩𝙬𝙤-𝙬𝙝𝙚𝙚𝙡𝙚𝙧 𝙨𝙥𝙖𝙘𝙚, 𝙤𝙧 𝙬𝙞𝙡𝙡 𝙙𝙞𝙛𝙛𝙚𝙧𝙚𝙣𝙩𝙞𝙖𝙩𝙞𝙤𝙣 𝙩𝙝𝙧𝙤𝙪𝙜𝙝 𝙩𝙚𝙘𝙝𝙣𝙤𝙡𝙤𝙜𝙮 𝙖𝙣𝙙 𝙗𝙧𝙖𝙣𝙙 𝙡𝙤𝙮𝙖𝙡𝙩𝙮 𝙗𝙚𝙘𝙤𝙢𝙚 𝙠𝙚𝙮 𝙜𝙧𝙤𝙬𝙩𝙝 𝙙𝙧𝙞𝙫𝙚𝙧𝙨?

Source: MoneyControl - https://bit.ly/3x98gY4

𝟓. ⁠𝐁𝐚𝐣𝐚𝐣 𝐇𝐨𝐮𝐬𝐢𝐧𝐠 𝐅𝐢𝐧𝐚𝐧𝐜𝐞 𝐟𝐢𝐥𝐞𝐬 𝐩𝐚𝐩𝐞𝐫𝐬 𝐟𝐨𝐫 𝐑𝐬 𝟕,𝟎𝟎𝟎 𝐂𝐫 𝐈𝐏𝐎

The IPO will comprise a fresh issue of equity shares worth up to Rs 4,000 crore and an offer for sale of equity shares worth Rs 3,000 crore by parent Bajaj Finance.

The proceeds will be used to augment Bajaj Housing Finance's capital base to meet future capital requirements.

🍇 𝙛𝙤𝙧 𝙏𝙝𝙤𝙪𝙜𝙝𝙩: 𝘽𝙖𝙟𝙖𝙟 𝙃𝙤𝙪𝙨𝙞𝙣𝙜 𝙁𝙞𝙣𝙖𝙣𝙘𝙚'𝙨 𝙄𝙋𝙊 𝙧𝙚𝙛𝙡𝙚𝙘𝙩𝙨 𝙜𝙧𝙤𝙬𝙞𝙣𝙜 𝙞𝙣𝙫𝙚𝙨𝙩𝙤𝙧 𝙘𝙤𝙣𝙛𝙞𝙙𝙚𝙣𝙘𝙚 𝙞𝙣 𝙄𝙣𝙙𝙞𝙖'𝙨 𝙝𝙤𝙪𝙨𝙞𝙣𝙜 𝙛𝙞𝙣𝙖𝙣𝙘𝙚 𝙨𝙚𝙘𝙩𝙤𝙧, 𝙙𝙧𝙞𝙫𝙚𝙣 𝙗𝙮 𝙪𝙧𝙗𝙖𝙣𝙞𝙯𝙖𝙩𝙞𝙤𝙣 𝙖𝙣𝙙 𝙖 𝙧𝙞𝙨𝙞𝙣𝙜 𝙢𝙞𝙙𝙙𝙡𝙚 𝙘𝙡𝙖𝙨𝙨. 𝙒𝙞𝙩𝙝 𝙢𝙤𝙧𝙚 𝙝𝙤𝙪𝙨𝙞𝙣𝙜 𝙛𝙞𝙣𝙖𝙣𝙘𝙚 𝙘𝙤𝙢𝙥𝙖𝙣𝙞𝙚𝙨 𝙜𝙤𝙞𝙣𝙜 𝙥𝙪𝙗𝙡𝙞𝙘, 𝙬𝙞𝙡𝙡 𝙩𝙝𝙞𝙨 𝙞𝙣𝙘𝙧𝙚𝙖𝙨𝙚𝙙 𝙘𝙖𝙥𝙞𝙩𝙖𝙡 𝙡𝙚𝙖𝙙 𝙩𝙤 𝙢𝙤𝙧𝙚 𝙖𝙛𝙛𝙤𝙧𝙙𝙖𝙗𝙡𝙚 𝙝𝙤𝙪𝙨𝙞𝙣𝙜 𝙤𝙥𝙩𝙞𝙤𝙣𝙨, 𝙤𝙧 𝙬𝙞𝙡𝙡 𝙞𝙩 𝙥𝙧𝙞𝙢𝙖𝙧𝙞𝙡𝙮 𝙗𝙚𝙣𝙚𝙛𝙞𝙩 𝙝𝙞𝙜𝙝-𝙚𝙣𝙙 𝙧𝙚𝙖𝙡 𝙚𝙨𝙩𝙖𝙩𝙚?

Source: YourStory - https://bit.ly/3KBAj5G

Got a zesty take on our tangy 🍇 𝙛𝙤𝙧 𝙏𝙝𝙤𝙪𝙜𝙝𝙩? Discuss in comments below! ⬇️

Grapevine News Bulletin 📰

- **Swiggy** is aiming for a valuation of $11.7 billion to $12.7 billion for its upcoming IPO, set to launch in early November.
- The IPO includes a fresh issue component of Rs 3,750 crore and an offer for sale of up to 182,286,265 equity shares.
- The primary component may be increased to Rs 4,500 crore, leading to a combined IPO size exceeding Rs 12,000 crore or $1.42 billion.
- Major investors in Swiggy include **Prosus** (32%), **SoftBank** (8%), and **Accel** (6%).
- Swiggy received approval from the **Securities and Exchange Board of India (SEBI)** for its IPO in September.

Source: [Moneycontrol](https://www.moneycontrol.com/news/business/startup/swiggy-targets-11-7-bn-12-7-bn-valuation-for-mega-1-4-bn-plus-ipo-launch-likely-in-early-nov-12845660.html)

Swiggy Targets $12.7B Valuation for $1.4B IPO in November

1. Migrating PhonePe to India 1B $ in useless tax

2. Like that stupid separation of PhonePe from Flipkart ~0.7B $

3. Now this 3.5B$ just to increase its stake when it was already a majority owner! What's going on?

Why does Walmart keep pumping soo much money even with unnecessary things with Flipkart?

Maybe, 
  
 Taking on Reliance retail and Amazon in India? 
 Tech infra for Walmart (random guess)  
 100% or ownership yields absolute power

Data engineer

Welcome to Office Gossip's Private Community

I still receive emails from recruiters - SWE, ML, DS, u name it. Can't complain.  

CTC: 45LPA

Job market is still hot. Change my mind.

Analyst

Inmobi fired 200 employees for cost cutting measures.

Inmobi fires 200

- Invesco valued its 28,844 shares of Swiggy at $219.2 Mn as of April 2024, translating to a $12.3 Bn valuation for the foodtech company.
- Pine Labs' valuation was pegged at $3.5 Bn at the end of April 2024, down from $3.8 Bn in January 2024.
- The valuation cuts come as Swiggy prepares for its $1.25 Bn IPO, having filed its draft red herring prospectus with SEBI.
- Despite the cuts, Swiggy's latest valuation is still 15% higher than its $10.7 Bn valuation during its $700 Mn decacorn round in 2022.
- The valuation adjustments follow a period of funding challenges and losses for Indian unicorns, though investor sentiment has recently improved. 

 Source: Inc42

Invesco Marks Down Valuations Of IPO-Bound Swiggy, Pine Labs

- Early investors in Swiggy, including Prosus, Accel, and Elevation Capital, are selling shares ahead of the company's IPO later this year.
- New investors, such as 360 One and high net-worth individuals, are buying these shares, showing confidence in Swiggy's growth potential.
- The company is signaling a potential IPO valuation of $10-13 billion, with current secondary transactions valuing it at $9.3 billion.
- Accel and Elevation Capital, early investors since 2015, are selling shares to realize gains accumulated over the years.
- Prosus, holding around 33% of Swiggy, needs to reduce its stake to 25% or below to avoid being tagged as a promoter during the IPO. 

 Source: Moneycontrol

Swiggy Shares on the Menu: Secondary Transactions Gain Steam Ahead of IPO

If jio platforms get listed today then will be 4th largest firm in India by mcap.

Profit $4B last year
Subscribers - 500M ( more than usa population)
Revenue 1.2 lac crore++
Arpu touching 200inr

Amazing numbers that too within 10y of ops in a competitive segment of telecom.

Jio Valuation crossedb $ 100B

Senior Consultant

What do you guys thinks is the best places to be during these uncertain times..which companies seem to be hiring?


For me, I’m thinking Google, Atlassian, Postman

Safest companies to be in during this economy?

https://www.livemint.com/companies/news/zepto-funding-665-mln-at-3-6-bln-valuation-ipo-next-year-blinkit-instamart-zomato-swiggy-flipkart-quick-commerce-11718939449690.html

Zepto valuation jumps to $3.6bln 💰

InMobi is banking on
'app-less' consumption, AI-driven user platforms😂

- MobiKwik's IPO will be a fresh issue of equity shares with no offer for sale component.
- The fintech unicorn plans to use the IPO proceeds to grow its financial services and expand its payments business.
- MobiKwik may also pursue a pre-IPO placement of INR 140 Cr, adjusting the fresh issue size accordingly.
- The company became profitable in FY24, reporting a net profit of INR 14.1 Cr, a turnaround from a net loss of INR 83.19 Cr in the previous year.
- Founded in 2009, MobiKwik offers a suite of financial products and has 146.94 Mn registered users as of September 2023. 

 Source: [Inc42](https://inc42.com/buzz/mobikwik-gets-sebi-nod-for-inr-700-cr-ipo/)

InMobi Eyes $10 Billion Valuation in 2025 India IPO

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