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Mobikwik Secures SEBI Approval for ₹700 Crore IPO: A Major Step in India’s Fintech Landscape!

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Mobikwik, a leading digital payment platform in India, has recently received approval from the Securities and Exchange Board of India (SEBI) to launch its initial public offering (IPO), targeting a substantial ₹700 crore. This marks a pivotal moment for the Gurugram-based fintech company, which has been navigating the complexities of the IPO process since its initial attempt in July 2021.

IPO Overview

The upcoming IPO will consist entirely of a fresh issue of equity shares, with no component for an offer for sale (OFS). According to the Draft Red Herring Prospectus (DRHP), the shares will have a face value of ₹2 each. The allocation strategy for the shares is designed to cater to various investor categories: 75% will be reserved for qualified institutional buyers, 15% for non-institutional investors, and the remaining 10% for retail individual investors. This structure aims to ensure broad participation in the offering.

Fund Utilization Plans

Mobikwik has outlined specific plans for how it intends to utilize the funds raised through this IPO:

  • ₹250 crore will be directed towards expanding its financial services business.
  • ₹135 crore is earmarked for enhancing its payment services.
  • Additional investments will support growth initiatives in data and artificial intelligence.
  • Over ₹70 crore will be allocated for capital expenditures.

These allocations reflect Mobikwik’s strategic focus on strengthening its market position and enhancing its service offerings within the competitive fintech landscape.

Market Context and Timing

The approval from SEBI comes at a time when there is growing investor interest in technology and fintech sectors in India. Mobikwik’s strategic emphasis on digital payments and financial services places it favorably within this rapidly evolving market. The company had previously filed its DRHP with SEBI but withdrew it due to challenging market conditions before refiling in January 2024.

Industry experts speculate that Mobikwik may launch its IPO before Diwali, which falls on November 4 this year, taking advantage of favorable market conditions. The book-running lead managers for this IPO are SBI Capital Markets Limited and DAM Capital Advisors Limited, while Link Intime India Private Limited will serve as the registrar.

Competitive Landscape

Founded in 2009 by Bipin Preet Singh and Upasana Taku, Mobikwik initially started as a digital wallet but has since evolved into a comprehensive fintech platform offering services such as credit, insurance, and gold loans. The company has garnered significant backing from prominent investors including Sequoia Capital India, Bajaj Finance, American Express, Cisco Systems, and Abu Dhabi Investment Authority.

Mobikwik faces competition from other fintech giants like Paytm, which is also preparing for an IPO. Paytm’s parent company, One97 Communications, has filed its own DRHP aiming to raise ₹16,600 crore through a combination of fresh issues and an OFS.

Future Outlook

While specific details regarding the price band and lot size of Mobikwik’s IPO remain to be finalized, the approval from SEBI is a crucial milestone in the company’s journey toward becoming a publicly traded entity. With a last reported valuation of approximately $700 million following a funding round earlier this year, Mobikwik is eyeing a valuation that could exceed $1 billion upon its public listing.

This IPO represents not only an opportunity for Mobikwik to enhance its market presence but also reflects broader trends within India’s burgeoning digital economy as consumer preferences increasingly shift towards online transactions and financial services. As Mobikwik prepares for this significant transition, it aims to solidify its position as a key player in India’s fintech ecosystem.

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1 Comment

1 Comment

  1. Prijava za prejem 100 USDT

    February 28, 2025 at 12:10 pm

    Thanks for sharing. I read many of your blog posts, cool, your blog is very good.

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Ex-100X.VC Partners Launch 247VC, Announce INR 250 Crore Fund for Seed-Stage Startups

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Former 100X.VC partners Yagnesh Sanghrajka and Shashank Randev have launched a new venture capital firm, 247VC, unveiling a maiden fund with a target corpus of INR 250 crore (about $30 million). The SEBI-registered Category II AIF includes a base of INR 200 crore and a INR 50 crore greenshoe option, and is focused on backing 30 seed-stage startups across India over the next three years.

 

247VC will target high-potential founders in sectors like deeptech, enterprise tech, consumption, and Industry 5.0, with initial cheque sizes ranging from INR 3 crore to INR 4 crore and follow-on capital for top-performing companies. The fund has attracted prominent early backers, including Sachin Tagra (JSW Ventures), Vivek Mathur (ex-Elevation Capital), and Shailendra Majmundar (Johns Hopkins University).

Sanghrajka and Randev, who together have invested in over 200 startups previously, aim to support ambitious founders building for scale and innovation, especially in emerging and underexplored markets. The launch comes as seed-stage investing gains momentum in India, with average cheque sizes rising despite a cautious funding environment.

 

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Flam Secures $14M Series A to Revolutionize Mixed Reality Marketing with AI

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AI infrastructure startup Flam has raised $14 million in a Series A round led by RTP Global, with participation from Dovetail and existing investors, bringing its total funding to $22 million. Founded in 2021, Flam enables brands to create and deliver high-fidelity mixed reality (MR) and generative AI experiences without the need for app downloads, allowing consumers to access immersive content via QR codes or links in under 300 milliseconds.

Flam’s platform is already used by over 100 global brands-including Google, Samsung, and Netflix-reaching more than 380 million users. The new funding will accelerate product innovation, expand operations in North America, Europe, and Asia, and launch a full-stack enterprise suite for MR and GenAI-driven marketing. The company currently has over 120 employees and plans to grow to 180 by the end of 2025, aiming to transform every brand touchpoint into an interactive digital experience.

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Info Edge Delivers 36% Returns on Startup Investments

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Info Edge, the parent of Naukri.com, has achieved a 36% gross internal rate of return (IRR) on its startup investments since 2007, turning a total investment of INR 3,959 crore across 111 startups into a portfolio now valued at INR 36,855 crore-a nearly 9X gain. Early bets on Zomato and Policybazaar have been especially lucrative, with holdings in these two companies alone worth INR 31,500 crore as of March 2025.

The company’s investment strategy spans multiple vehicles, including the SEBI-registered Info Edge Venture Fund (IEVF), Info Edge Capital, and Capital 2B, with a combined fund corpus of INR 3,423 crore and Info Edge committing INR 1,614 crore. Early-stage investments now contribute 30-40% of the company’s overall value.

Info Edge’s Alternative Investment Fund (AIF) investments have yielded an IRR of 18.7%. Many portfolio companies, such as TrueMeds, Geniemode, Attentive.ai, and InPrime, have attracted follow-on funding from major investors like Accel, Peak XV Partners, and Tiger Global. Notably, BlueStone, the largest investment of Info Edge Capital, has filed for an IPO after securing investments from Prosus, Peak XV, and Steadview Capital.

Founder Sanjeev Bikhchandani emphasized the company’s focus on strong governance and financial controls, with a preference for value realization through public listings or strategic exits.

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