{
}
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
A vibrant week is anticipated in the IPO market with 11 public issues, including Mobikwik and Vishal Mega Mart, set to open for subscription, aiming to raise around Rs 18,500 crore. This surge contributes to over Rs 1.64 lakh crore in IPOs for the year, reflecting a strong bull-run in Indian markets. Experts predict continued momentum into 2025, with diverse sectors like quick-commerce and logistics expected to list, ensuring a lively primary market.
Mobikwik's CEO, Bipin Singh, stated that the company's IPO valuation has been adjusted by 70% from its last private round in 2021 to ensure a more stable and justifiable pricing. He emphasized the importance of aligning the IPO price with the company's long-term vision and maintaining investor confidence. This adjustment aims to make the valuation more realistic and in line with current market expectations.
MobiKwik has reduced its IPO size from Rs 1,900 crore to Rs 572 crore, with anchor bidding set to begin on December 10 and the issue closing on December 13. Founder Bipin Preet Singh explained that the company no longer needs as much capital due to its profitability and changing market conditions. Initially filed in July 2021, the IPO size has been cut multiple times, reflecting a shift from a growth-at-all-costs strategy.
Mobikwik has set a price band of Rs 265-279 per share and reduced its IPO size for the third time, now aiming for a listing on December 18. The company plans to raise funds for growth in financial services, payment expansion, and R&D in AI and technology, following a revenue increase to Rs 875 crore for FY24. With 161.03 million users and a 23.11% market share in India's PPI wallet sector, Mobikwik continues to diversify its offerings beyond digital wallets.
Mobikwik
Companies
03:04 08.12.2024
12:44 06.12.2024
09:17 06.12.2024
04:12 06.12.2024
Trending
Subcategory:
Cryptocurrency Markets
Stock Market Updates
Cryptocurrency Trends
Cryptocurrency & Blockchain Regulations
Central Bank Actions
Market Sentiment Analysis
Banking & Investment Regulations
Employment Reports
Banking Regulations
Corporate Responsibility & ESG
Anti-Money Laundering (AML) Regulations
Inflation Rates & CPI Data
Blockchain Technology Adoption
Hedge Funds & Private Equity
Cryptocurrency Regulations
Tokenomics and Crypto Economics
Decentralized Finance (DeFi) Innovations
Mergers & Acquisitions
Emerging Startups
Cryptocurrency Developments
Countries:
Companies:
Currencies:
People:
Coinbase Global, Inc.
Apple Inc.
NVIDIA Corporation
Solana USD
Ethereum USD
Tesla, Inc.
Chainlink USD
Bitwise Bitcoin ETF
Fidelity Contrafund
UBS Group AG
BlackRock, Inc.
MicroStrategy Inc
Delta Air Lines, Inc.
Kraken Energy Corp.
Ripple USD USD
Ripples USD
Microsoft Corporation
Standard Chartered PLC
Novartis AG
Bank of America Corporation
United States Dollar
Euro
Swiss Franc
British Pound Sterling
Japanese Yen
Indian Rupee
Swedish Krona
Chinese Yuan
Canadian Dollar
Singapore Dollar
South Korean Won
New Taiwan Dollar
Thai Baht
Philippine Peso
Russian Ruble
Vietnamese Đồng
Seems like the connection with the server has been lost. It can be due to poor or broken network. Please hang on while we're trying to reconnect...
Oh snap! Failed to reconnect with the server. This is typically caused by a longer network outage, or if the server has been taken down. You can try to reconnect, but if that does not work, you need to reload the page.
Oh man! The server rejected the attempt to reconnect. The only option now is to reload the page, but be prepared that it won't work, since this is typically caused by a failure on the server.