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