{
Bipin Preet Singh

People

}

MobiKwik Reduces IPO Size to 572 Crore Amid Profitability Shift

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.
Moneycontrol
Indian Rupee Mobikwik IND Bipin Singh Bipin Preet Singh
Finance & Economy, Market Report
09:17 06.12.2024

Mobikwik Sets IPO Price Band and Reduces Size Ahead of December Listing

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.
Moneycontrol
Indian Rupee Mobikwik IND Upasana Taku Bipin Preet Singh
Finance & Economy, Market Report
04:12 06.12.2024
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