Page 2 - Mobikwik

Mobikwik refiles draft papers as it trims IPO size down to Rs 700 cr

Earlier in 2021, it had targeted to raise Rs 1,900 cr but withdrew due to weak market conditions

Fintech firm Mobikwik refiles draft papers with Sebi to raise Rs 700 cr

Unicorn fintech firm One MobiKwik Systems Ltd has filed its preliminary papers with markets regulator Sebi to raise up to Rs 700 crore through an initial public offering. This is the second attempt by the Gurugram-based firm for the public issue following its first attempt in July 2021. Earlier, the company shelved its IPO plans and withdrew its draft papers due to unfavourable market conditions. The public issue is entirely a fresh issue of equity shares worth up to Rs 700 crore, as per the draft red herring prospectus (DRHP) filed on Thursday. The company may consider a pre-IPO placement of its securities worth up to Rs 140 crore. If such a placement is undertaken, the size of the fresh issue will be reduced. The proceeds from the fresh issue to the tune of Rs 250 crore will be used for funding growth in the financial services business and Rs 135 crore for the payment services business. Further, Rs 135 crore for investment in data, machine learning and artificial intelligence, a

Sequoia-backed MobiKwik refiles DRHP with Sebi for Rs 700 crore IPO

MobiKwik will consider a pre-IPO placement of Rs 140 crore and if this pre-placement is completed, the fresh issue size will be reduced

Sequoia-backed mobile wallet Mobikwik selects banks for $84 million IPO

The Gurugram-based fintech firm is working with DAM Capital Advisors Ltd and SBI Capital Markets Ltd for preparations for its listing

No plan to enter banking sector: Mobikwik co-founder, CEO Bipin Preet Singh

Singh indicates that an initial public offering (IPO) is on the cards

Mobikwik's Zaakpay gets in-principle nod to operate as payment aggregator

The Reserve Bank of India has allowed the payment gateway to onboard new merchants to its platform

Banking fintech MobiKwik posts second quarter of PAT at Rs 5 crore

The Gurugram-based fintech has a registered base of 140 million users and over four million merchants

Will take a shot at bourses after 3-4 quarters of profit: MobiKwik

Taku said that the company plans on tapping into new investments if it is working on a new product or an inorganic play that requires capital

Fintech platform MobiKwik reports first ever consolidated PAT at Rs 3 crore

To double its revenue in fiscal 2024 to Rs 1,100cr

Fintech firm MobiKwik posts first ever consolidated Q1 profit at Rs 3 cr

Unicorn Fintech firm MobiKwik on Tuesday reported its first ever consolidated profit at Rs 3 crore in the first quarter ended June 30, a senior company official said. MobiKwik Co-Founder and COO Upasana Taku told PTI that MobiKwik has become the first fintech firm to post consolidated profit and expects to maintain the momentum throughout the year. "We have registered an adjusted Earnings before interest, taxes, depreciation, and amortization (EBITDA) of Rs 13.6 crore which is 181 per cent increase on a year-on-year basis. "This is the second consecutive quarter when we have posted positive EBITDA and the first quarter when we have posted consolidated profit after tax of Rs 3 crore. We expect to continue the growth momentum and achieve full-year profitability," Taku said. Taku said that she expects other startups also to turn profitable as it will give a boost to the investment environment in the country and sentiments of investors. She said that MobiKwik has been growing consiste

MobiKwik gets ex-Sebi ED, former SBI Card CEO Prasad in advisory board

Fintech firm MobiKwik has onboarded former Sebi Executive Director and Irdai member Radhakrishnan Nair and ex-MD and CEO of SBI Card Hardayal Prasad to its newly created advisory board. The company has set up an advisory board to help it enhance understanding of regulations, compliance, and industry dynamics, further strengthening its position in the BFSI and fintech sectors. "With a combined experience of eight decades across various financial domains such as banking, securities, insurance, investments, credit cards, payment services, and IPOs, Radhakrishnan Nair and Hardayal Prasad bring unique perspectives that are expected to drive innovation and propel MobiKwik towards even greater growth and success," MobiKwik said in a statement. Nair has over 40 years of experience in banking, securities, and insurance industries. He is serving as an independent director in several other companies, including ICICI Bank and its subsidiaries. Prasad has nearly 40 years of global experience in

Mobikwik turns profitable in March quarter, expects to double revenue

Fintech platform Mobikwik turned profitable in the March quarter and expects to almost double revenue to over Rs 1,000 crore in the current fiscal along with full-year profitability, the company's co-founder Upasana Taku said. The company closed the 2022-23 financial year with a 39 per cent net revenue growth at Rs 560 crore. "In Q4 (fourth), 2023, we booked profit. Now my aim is that every quarter from now on should be a profitable quarter. We have reduced cash burn by about 40 per cent. For FY'24, we want to achieve Rs 1,000 crore revenue and Rs 40-50 crore profit," Taku told PTI. She said that 50 per cent of the company's revenue came from the distribution of digital credit products and the rest from payments. "Number of credit active users has gone up from 2 million to 4 million. The reason we have pay-later products is that more than 75 per cent of our users were first to credit customers. 'Buy Now Pay Later' helped us in testing users in short span of time. After they have us

Will expand product offerings; add users, merchants in FY24: MobiKwik COO

'FY24 will be a big year for us. We want to be profitable in all quarters - and for the full financial year'

IPO-bound MobiKwik's total income rises 80% to Rs 540 crore in FY22

IPO-bound fintech firm MobiKwik on Friday said its total income jumped 80 per cent to Rs 540 crore in the financial year ended March 2022. The company had recorded a total income of Rs 302.3 crore in 2020-21. MobiKwik said its contribution margin rose to Rs 145 crore compared to Rs 30 crore in FY 2020-21 and posted an operational profit in the second half of 2021-22. "The most significant milestone was turning EBITDA (earnings before interest, taxes, depreciation, and amortisation) profitable in the second half, a rarity in the tech world which reflects our ethos of remaining at the forefront of fintech innovation, growing rapidly but with capital efficiency. "With business now self-sustaining and the momentum growing, we remain confident of not only achieving our short-term financial goals but also a long-term objective of transforming into a full-service neobank," MobiKwik co-founder Upasana Taku said in the statement. Currently, the firm generates revenue primarily from two ...

GoAir to Mobikwik: IPOs worth Rs 32,881 cr 'to expire' by Dec-end

Out of 27 such IPOs, the offer of GoAir will be the first one to expire

MobiKwik announces launch of 'AutoBill Pay' feature for its 25 mn ZIP users

This feature is designed to help ZIP users pay multiple bills such as electricity, water, gas, mobile, DTH, etc. automatically every month using the BNPL credit line

Mobikwik seeks to raise $100 million in equity after deferring planned IPO

One Mobikwik Systems Ltd. is in talks with investors to raise as much as $100 million in equity to finance business expansion

MobiKwik elevates Anshuman Misra as Chief Product and Technology Officer

Anshuman Misra will work with the product, design, engineering, infrastructure and security functions at MobiKwik

IPO-bound Mobikwik posts first-ever profit in Dec 2021 quarter: Co-founder

IPO-bound fintech firm Mobikwik became profitable in the December 2021 quarter and expects to close the current financial year with almost two times growth in revenue, a top company official has said

Mobikwik to raise private funding as stock market turns bearish

Fintech start-up turns profitable for the first time in December quarter on massive BNPL uptake