Payment platform Mobikwik gets Sebi nod for ₹700 crore IPO; details here

Gurugram-based One Mobikwik Systems Limited has received final approval from the Securities and Exchange Board of India (SEBI) to raise ₹700 crore through an initial public offering (IPO). The company had refiled its IPO documents with SEBI on January 4 this year.

The IPO, with a face value of ₹2 per share, is entirely a fresh issue of equity shares, with no offer for sale included. The company, in consultation with the book-running lead managers, may explore raising an additional ₹140 crore through various methods, such as private placement, preferential allotment, or rights issue, as part of a “Pre-IPO placement.” If this placement is completed, the size of the fresh issue will be adjusted accordingly.