MobiKwik gets SEBI nod for ₹1,900 crore IPO
The Hindu
Proceeds from the fresh issue of shares will be used towards funding organic as well as inorganic growth initiatives and general corporate purpose.
MobiKwik has received markets regulator SEBI's approval to launch an initial public offering, through which it plans to raise up to ₹1,900 crore.
The Gurgaon-based company had filed the Draft Red Herring Prospectus (DRHP) for the Initial Public Offering (IPO) with SEBI in July.
Through the IPO, the company plans to offer shares aggregating to ₹1,900 crore. Out of the total, ₹1,500 crore will be mopped up through fresh issue of shares, while ₹400 crore-worth stocks will be offloaded through the Offer-for-Sale (OFS) route by existing shareholders.
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