Mobikwik files DRHP to raise Rs 1,900 crore via IPO

Digital payments startup Mobikwik on Monday filed a Draft Red Herring Prospectus (DRHP) with capital markets regulator, the Securities and Exchange Board of India, to raise Rs 1,900 crore ($255 million) through an Initial Public Offering. The DRHP, which ET has seen, showed that about Rs 1,500 crore would be raised through a primary share sale, while the remaining will be a secondary transaction where existing investors will sell stakes.

The Gurugram-based startup, which was valued at $700 million in its previous equity funding round in April when it raised $20 million (Rs 150 crore), is eyeing a valuation of $1 billion (Rs 7,459 crore) at its public market listing, sources aware of the matter said.