MobiKwik Gets SEBI Nod for INR 700 Cr IPO
- 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]()
This company is such a sham. Complete fraudsters. No corporate governance standards. Don’t know how such companies get the nod to go ahead.
Kendall Vernon
Student
a month ago
This only proves that we are in a euphoric market. And end of cycle is near.
No, it's just go for IPO. Market doesn't care about profit. Ex: Ola Electric.
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