IPO-Bound MobiKwik Converts Into A Public Entity

RBI Examines IPO-Bound MobiKwik’s 100 Mn Data Breach

SUMMARY

MobiKwik has passed a special resolution to approve the conversion of MobiKwik’s holding entity to a public entity from a private limited firm

MobiKwik is planning to go for an initial public offering (IPO) by early 2022 and has been preparing its draft red herring prospectus for the past couple of months

MobiKwik Has also passed a resolution to issue bonus shares to its equity shareholders

In the run up to its IPO, the board of Gurugram-based payments and financial services startup MobiKwik has passed a special resolution to approve the conversion of MobiKwik’s holding entity to a public entity from a private limited firm. The newly formed entity is called One Mobikwik Systems Limited, according to regulatory filings.

MobiKwik is planning to go for an initial public offering (IPO) by early 2022 and has been preparing its draft red herring prospectus for the past couple of months. The latest fundraise could be part of a larger pre-IPO round, as seen in the case of Delhivery, PharmEasy, PolicyBazaar.