MobiKwik trims IPO size from Rs 700 crore to Rs 572 crore

Gurugram-based fintech firm MobiKwik has reduced the size of its fresh issue to Rs 572 crore in its latest red herring prospectus, from the earlier Rs 700 crore, and set a price band of Rs 265 to Rs 279 per share, with a minimum lot size of 53 shares.

Through this IPO, the company will likely be valued at around $250 million, which is sharp drop of its 2021 valuation of $924 million, as per Tracxn data.