The offer comprises fresh issue of equity shares up to INR 1,500 Cr and an offer for sale for certain existing shareholders up to INR 400 Cr
The fintech startup plans to use the proceeds from the IPO for funding its organic and inorganic growth initiatives and general corporate purposes
It has reserved 4.5 Mn equity shares, or 7% of the fully diluted outstanding shares, under ESOP and as per the Gurugram-based startup, the employees would get high returns through the ESOPs on its public listing
Fintech giant MobiKwik has received approval from the market regulator SEBI for its INR 1,900 Cr IPO. On Thursday, the market regulator gave a go-ahead to the Delhi NCR based fintech startup, sources close to the development told Inc42.
The company is likely to hit the market in two weeks, said the above-mentioned sources.