MobiKwik IPO
Payments start up MobiKwik IPO likely by September
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.
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