Why has MobiKwik decided to put off its proposed IPO?

MobiKwik, which runs a popular buy now pay later (BNPL) wallet has decided to delay its IPO plans for the time being. SEBI had already approved the DRHP of MobiKwik so it was virtually all set for the IPO. However, it decided to postpone the IPO after the sharp correction in the Paytm stock post listing.

Paytm lost over 36% in 2 days of listing, before bouncing back. MobiKwik is backed by Bajaj Finance. It is actually surprising decision by MobiKwik since the digital space continues to see robust investor interest with the Paytm IPO likely being more of a one-off case. The MobiKwik IPO is off and new dates will be announced later.