March 29, 2024 17:50 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
PM Modi to kickstart BJP's Lok Sabha poll campaign from Meerut | Kangana Ranaut in Mandi: 'Don't think I am a heroine, consider me as your sister and daughter' | Mayawati, Akhilesh Yadav demand high-level probe into Mukhtar Ansari's death | PM Modi has mastered art of manipulating democracy, hurting Constitution: Mallikarjun Kharge | Mafia-turned-politician Mukhtar Ansari dies of cardiac arrest at 63
Payments start up MobiKwik IPO likely by September MobiKwik IPO

Payments start up MobiKwik IPO likely by September

India Blooms News Service | @indiablooms | 22 Mar 2021, 10:14 pm

Mumbai/IBNS: One MobiKwik System Pvt Ltd is planning an Initial Public Offering by September that could garner between $200 million and $250 million, said a Bloomberg report.

The Indian digital wallet and payments startup is likely to file draft IPO by May that could peg the company's value at $1 billion dollar, the report said, citing sources.

It is also planning to hold a pre-IPO funding round that could give the company a valuation of $700 million, said the report.

However,  the size and timing of the fund raising may change.

MobiKwik has a network of 3 million merchants and has more than 107 million users. It registers more than a million transactions per day across its services such as digital wallets, mobile phone top ups and utility bill payments, according to its website.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.