Mobikwik gets Sebi approval for Rs 1,900 crore IPO
The payments startup is looking to launch its IPO before Diwali. The startup joins a growing list of consumer internet firms, including Zomato, Paytm, Nykaa and PolicyBazaar that are eyeing stock market debuts this year.
The DRHP showed that about Rs 1,500 crore would be raised through a primary share sale, while the remaining will be a secondary transaction where existing investors will sell stakes.
The firm, founded in 2009 by Bipin Preet Singh and Upasana Taku, counts Sequoia Capital India, Bajaj Finance, American Express, Cisco and Abu Dhabi Investment Authority among its investors.
According to the DRHP, Singh and Taku plan to sell shares worth over Rs 191 crore in the secondary sale.
The Gurugram-based startup, which was valued at $700 million in its previous equity funding round in April, is eyeing a valuation of $1 billion at its public market listing,
ET reported in July.
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( News Source :Except for the headline, this story has not been edited by Rashtra News staff and is published from a economictimes.indiatimes.com feed.)
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