Mobikwik refiles draft papers as it trims IPO size down to Rs 700 cr

Fintech player MobiKwik, which plans to raise Rs 700 crore, has refiled its draft red herring prospectus (DRHP).

With the second filing of the DRHP, the company is planning to mop up less than half of what it had aimed to raise earlier.

Earlier in 2021, the Peak XV-backed company had filed a DRHP with a target to raise Rs 1,900 crore. However, the company had to abandon its plan due to weak market conditions.

The husband-wife duo founders of Mobikwik — Bipin Singh and Upasana Taku — will not be selling any of their shares.