Online payments and lending firm MobiKwik plan to raise Rs 1,900 cr through IPO, of which 1,500 cr is a fresh issue of shares and Rs 400 cr offer for sale from the existing investors. Founded in 2009, the company was last valued at $700 mn when it raised $20 million in June 2021. It is into the business of consumer payments wallet, Buy Now Pay Later (BPNL), payments gateway and cross-selling mutual funds & insurance.

It has a user base of 101 mn and 3.4 million merchant partners. It reported a total income of Rs 302 cr, expenses of Rs 404 cr and Rs 111 cr loss for FY 2021.

How do I apply to the MobiKwik IPO?

You can apply for the MobiKwik IPO using any supported UPI app by following two steps:

• Enter your bid on Console
• Accept UPI mandate on your phone

On acceptance of the mandate, the bid amount will get blocked in your bank account. Click here to learn more.