When do we expect the MobiKwik IPO to hit the market?

MobiKwik Systems, famous for its MobiKwik payment and credit offering app, has filed the DRHP with SEBI for its proposed Rs.1,900 crore IPO. Once the DRHP is approved, the issuer will have to finalize its terms of the offer and then file for RHP after which the actual issue can open. It looks like the issue would probably hit the market in the second half of August if all other approvals go through on time.

The MobiKwik IPO will comprise of a fresh issue of Rs.1,500 crore and an additional offer for sale of Rs.400 crore to give exit to shareholders. The company is likely to consider a pre-IPO placement worth approximately Rs.400 crore, which will reduce the issue size accordingly. Proceeds of the fresh issue will be used to fund organic and inorganic growth. MobiKwik is focused on addressing the unmet credit needs of online transactors on liberal credit terms.