Funds Agency MobiKwik Recordsdata For Rs. 1,900 Crore Preliminary Public Providing

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Digital funds agency MobiKwik, backed by Sequoia Capital and Bajaj Finance, filed for an preliminary public providing (IPO) value as much as Rs 1,900 crore with the markets regulator on Monday.

The IPO contains the problem of latest shares value Rs 1,500 crore and a suggestion on the market of shares value as much as Rs 400 crore, diluting the stakes of its two founders and present traders, which additionally embrace American Categorical, Cisco and Treeline Asia.

MobiKwik has employed ICICI Securities, BNP Paribas, Credit score Suisse, IIFL Securities and Jefferies as e book managers for the IPO.

One97 Communications Ltd, the guardian of digital funds agency Paytm, Mobikwik’s larger rival, can be planning to boost $2.three billion by way of an IPO, sources beforehand instructed Reuters.

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