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.

The Amazon Great Indian Festival and Flipkart Big Billion Days are two of the most awaited shopping events in India, set to commence on September 27, 2024. These sales represent a unique opportunity for consumers to benefit from substantial discounts and exclusive deals across a wide range of product categories, making them pivotal events in the Indian e-commerce landscape.

Amazon Great Indian Festival 2024

Event Overview

The Amazon Great Indian Festival is recognized as India’s largest festive shopping event. This year, it will launch on September 27, with Prime members receiving early access starting September 26. The festival is expected to showcase over 25,000 new products and offer significant savings on categories such as electronics, fashion, home appliances, and groceries.

Key Features and Offers

• Discounts: Shoppers can expect mobile phones starting at ₹5,999, electronics from ₹199, and headphones from ₹699. Discounts of up to 70% will be available across various items.
• Payment Benefits: Customers using SBI debit and credit cards can avail themselves of a 10% instant discount. Additionally, Prime members can earn 5% cashback on purchases made with the Amazon Pay ICICI Bank credit card.
• Diverse Shopping Experience: The event will support multiple languages including Hindi, Tamil, and Telugu, ensuring accessibility for a broad audience.
• Seller Participation: Over 16 lakh sellers will participate in this year’s festival, many of whom will offer exclusive deals to promote small businesses during the festive season.

Promotional Strategies

Amazon aims to enhance customer experience through fast delivery services and an extensive selection of products. The company anticipates robust growth from tier-2 and tier-3 cities as consumer demand continues to rise in these areas.

Flipkart Big Billion Days 2024

Event Overview

Concurrent with Amazon’s festival, Flipkart will host its Big Billion Days sale starting on September 27. Known for its competitive pricing, this event will feature an extensive range of products available at discounted rates.

Key Features and Offers

• Electronics Discounts: Flipkart is expected to offer notable price cuts on popular smartphones such as the iPhone 15 series and Samsung Galaxy models.
• Additional Savings: Similar to Amazon, Flipkart will likely provide bank offers that enhance overall value for customers during this shopping frenzy.
• Exclusive Products: Both platforms are anticipated to feature exclusive launches and limited-time offers catering to diverse customer needs.

Conclusion

As both Amazon and Flipkart prepare for their respective sales events, consumers have much to look forward to in terms of exciting shopping experiences filled with incredible deals. With overlapping dates and competitive offers from both platforms, shoppers are encouraged to explore each site thoroughly to maximize their savings during this festive season.

The Great Indian Festival and Big Billion Days not only highlight the growing e-commerce landscape in India but also reflect changing consumer behaviors as more people engage in online shopping during festive periods. With significant participation from sellers across the country, these events are poised to deliver a festive spirit that resonates with millions of households across India.

Instagram has introduced a new feature called “Teen Accounts” to enhance the safety and well-being of its younger users. This initiative aims to address growing concerns among parents and guardians about the potential risks associated with social media use among teenagers.

Understanding Teen Accounts

Teen Accounts are automatically assigned to users under 18 years old and come with built-in safety features. These accounts are designed to provide a more secure online experience for teenagers by protecting them from inappropriate content and unwanted interactions while giving parents more control over their teens’ social media activities.

Key Features of Teen Accounts

1. Default Private Settings: All Teen Accounts will be set to private by default, requiring teens to approve follower requests and ensuring that only people they know can see their content.
2. Messaging Restrictions: Teens can only receive messages from accounts they follow or are already connected to, limiting the risk of unwanted contact from strangers.
3. Sensitive Content Filtering: Teen Accounts will automatically have the most restrictive content settings, filtering out sensitive material such as violent videos or posts promoting cosmetic procedures to create a safer browsing experience.
4. Hidden Words Feature: Instagram’s anti-bullying tool, Hidden Words, will be activated by default on Teen Accounts, filtering out offensive comments and messages to help reduce cyberbullying.
5. Time Management Tools: Teens will receive reminders after using the app for over an hour, encouraging them to take breaks. A sleep mode will mute notifications between 10 PM and 7 AM, promoting healthier usage habits.
6. Parental Controls: Parents can monitor their teen’s messaging activity over the past week without accessing the actual messages. They can also set daily time limits for app usage and block access during specific hours.

Parental Oversight

The introduction of Teen Accounts gives parents greater oversight of their children’s social media interactions. By enabling parental supervision features, parents can approve or deny changes to account settings, view topics their teens are exploring on Instagram, and set daily time limits for app usage. This level of control is designed to reassure parents that their teens are engaging with age-appropriate content and are protected from potential online dangers.

Implementation Timeline

Instagram began rolling out Teen Accounts on September 17, 2024, starting with users in the United States, Canada, the UK, and Australia. Existing accounts for users under 18 will transition to Teen Accounts within the next 60 days, and the rollout will extend to other regions, including the European Union, later this year and into early 2025.

Conclusion

Instagram’s new Teen Accounts represent a significant step towards ensuring the safety of younger users on social media platforms. With enhanced privacy settings, content filtering, and parental controls, these accounts aim to create a more secure environment for teenagers while allowing parents to stay informed about their children’s online activities. As social media continues to play a crucial role in young people’s lives, initiatives like these are essential in fostering safe and responsible usage. Parents should familiarize themselves with these features and engage in conversations with their teens about safe social media practices.