MobiKwik raises Rs 257 crore from anchor investors ahead of IPO
According to the circular, MobiKwik has decided to allocate 92.26 lakh equity shares to 21 funds at Rs 279 apiece, which is also the upper end of the price band. This translates into the transaction size to Rs 257.4 crore.
The IPO is entirely a fresh issuance of equity shares worth up to Rs 572 crore with no any offer-for-sale (OFS) portion. The issue, with a price band of Rs 265-279 per share, will be open for subscription during December 11 to 13.
As per the Red Herring Prospectus (RHP), Peak XV Partners (formerly Sequoia Capital India) owned a 16.7 per cent stake, while Abu Dhabi Investment Authority (ADIA) held a 2.8 per cent holding in MobiKwik.
Proceeds from the fresh issue worth Rs 150 crore will be used for organic growth in its financial services business, Rs 135 crore for expanding its payment services and Rs 107 crore for research and development in AI, machine learning, and technology.
Stock Trading
Futures Trading Made Easy: Future & Options Trading Course
By — Anirudh Saraf, Founder- Saraf A & Associates, Chartered Accountant
Stock Trading
A2Z of Stock Market for Beginners: Stock Market Course For Beginners
By — elearnmarkets, Financial Education by StockEdge
Stock Trading
Stock Valuation Made Easy
By — Rounak Gouti, Investment commentary writer, Experience in equity research
Stock Trading
Technical Analysis Demystified: A Complete Guide to Trading
By — Kunal Patel, Options Trader, Instructor
Stock Trading
Candlesticks Made Easy: Candlestick Pattern Course
By — elearnmarkets, Financial Education by
