Mobikwik refiles draft papers for ₹700 crore IPO, drops OFS plan
Mint Mumbai|January 06, 2024
Online payments company One Mobikwik Systems Ltd on Friday refiled its draft papers for an initial public offering (IPO) to raise ₹700 crore, sharply lower than the 1,900 crore it planned to raise more than two years ago.
Ranjani Raghavan
Mobikwik refiles draft papers for ₹700 crore IPO, drops OFS plan

Mobikwik is also aiming to raise 140 crore in a pre-IPO placement, which, if successful, will reduce the issue size accordingly. SBI Caps and DAM Capital are managing the share sale.

Earlier this week, Mobikwik obtained board approval to raise ₹880 crore by selling new shares through an IPO. The company had first attempted to raise $1,900 crore in November 2021, but decided to scrap the plan due to poor investor sentiment. This time, there will be no offer for sale (OFS) as planned last time.

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