InvestorQ : When is the MobiKwik IPO scheduled to hit the market?
sara Kunju made post

When is the MobiKwik IPO scheduled to hit the market?

Mary Joseph answered.
1 year ago

Even as the likes of Flipkart are looking at mega IPOs in global markets, digital player MobiKwik is look at an IPO hitting the Indian markets during the current calendar year. Obviously, if it is IPO time, then the digital plays are not going to be left behind this time around. And the MobiKwik IPO proposed to hit the market later this year is likely to be significant in more ways than one.

MobiKwik is an Indian digital wallet and payments start-up that competes with the likes of Google Pay, Phone Pe and Paytm although it is nowhere close to the other 3 in terms of size and reach. MobiKwik is targeting an IPO by Sep-21 and the company plans to raise up to $250 million so as to provide adequate ammunition to expand its digital operations and invest in customer and brand building.

The company hopes to file its draft IPO prospectus by May 2021. While valuation metrics are still not clear, it would largely depend on the pre-IPO placement that is also planned by the company. It is estimated that MobiKwik would get a valuation of $700 million in the pre-IPO placement and if that happens then we could see valuations in the range of $1 billion for MobiKwik in the final IPO.

MobiKwik may be relatively smaller but it does have a strong customer franchise. One can say that it surely has the numbers that can be built on. For example, MobiKwik logs over 1 million customer transactions daily. In addition, it also boasts of a network of over 3 million merchants and serves over 107 million users. MobiKwik is backed by globally reputed PE investor, Sequoia Capital, as well as Bajaj Finance.