MobiKwik files for Rs 1,900 crore IPO, before Paytm

MUMBAI: Ahead of the IPO by the country’s digital payments major Paytm, its peer MobiKwik has already gone a step ahead and filed the draft offer document with the markets regulator Sebi for a Rs 1,900-crore IPO. Paytm is still in the process of finalising its offer document to be filed with Sebi.

According to the offer document by One MobiKwik Systems, the company that runs the MobiKwik platform, total offer shares worth Rs 1,500 crore will accrue through issuance of new shares. Additionally, existing shareholders are offering shares worth Rs 400 crore. The company intends to use the Rs 1,500-crore it raises for funding its organic and inorganic growth initiatives, and for general corporate purposes.