New Delhi: Fintech unicorn MobiKwik on Friday filed its draft pink herring prospectus (DRHP) with the markets regulator SEBI in its second try, to lift Rs 700 crore this time by way of contemporary problems with shares.
The DRHP comes with none offer-for-sale (OFS) element however the firm goals to lift Rs 140 crore in a pre-IPO spherical.
The firm, based in 2009 by Bipin Preet Singh and Upasana Taku, doesn’t plan to promote any current shares within the IPO, in response to the prospectus.
In 2021, MobiKwik which is backed by Peak XV, Abu Dhabi Investment Authority and American Express, had filed for an IPO to lift about $250 million by way of sale of recent and current shares, nonetheless, it deterred the IPO plans amid the worldwide meltdown and worsening funding winter.
The digital banking platform in October this 12 months launched its monetary outcomes (unaudited) for the second quarter within the present monetary 12 months (FY24) with a 52 per cent development in revenues over the corresponding interval in FY23 and its second consecutive quarter of PAT profitability.
The revenues for the July-September quarter stood at Rs 208 crore, a development of 17 per cent over the earlier quarter in the identical fiscal, with a revenue after tax (PAT) of Rs 5 crore.
With a 58 per cent improve in revenues in comparison with the primary half in FY23, MobiKwik scaled its revenues to Rs 385 crore with a PAT of Rs 8 crore in H1 FY24.
“Our purpose is to make digital banking services accessible to people across demographics pan-India, and we are seeing positive uptake on our platform. The results are evident with another quarter of sustained revenue growth in line with our vision for the year,” mentioned Taku.
MobiKwik has grown to serve over 140 million registered customers throughout the nation, with a service provider community of over 4 million.
Source: zeenews.india.com
