MobiKwik cut IPO size due to higher FY24 revenue: Co-founder
Business Standard|October 28, 2024
Fintech firm MobiKwik reduced its initial public offering (IPO) size this year as compared to its 2021 plans on the back of higher operational revenue and a shift towards positive Ebitda (earnings before interest, taxes, depreciation, and amortisation) in financial year 2024 (FY24), a senior company executive said.
AJINKYA KAWALE
MobiKwik cut IPO size due to higher FY24 revenue: Co-founder

The Gurugram-based company refiled its draft red herring prospectus (DRHP) in January when it disclosed its plans to raise ₹700 crore through an IPO. This is about 63 per cent lower than its 2021 target of raising ₹1,900 crore, which it abandoned citing weak market conditions.

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