Mobikwik Files DRHP With SEBI For IPO

In December, Mobikwik had passed a resolution to raise up to Rs 880 crore through an initial public offering via a fresh issuance of equity shares.

This is the company's second attempt to list on the bourses. It had earlier filed its draft red herring prospectus in 2021, at a time when rival Paytm went public and saw a 25% dip on its debut before crashing further.

It had then put its IPO plans on hold, citing market conditions. The earlier IPO was planned to be worth about Rs 1,900 crore, and had received SEBI approval. That comprised of a Rs 1,500 crore fresh issue and a Rs 400-crore OFS component.

The current IPO aims to raise less than half that amount. The company will now wait for SEBI's approval to go ahead for a listing.