The Securities and Exchange Board of India (SEBI) has received a revised version of the Draft Red Herring Prospectus (DRHP) that Gurugram based fintech company MobiKwik submitted for an initial public offering (IPO). This is the company's second effort at an initial public offering (IPO), and DRHP reports that it hopes to collect Rs 700 crore through it. The first effort, a July 2021 Rs 1,900 crore initial public offering (IPO), was approved by SEBI. But as the state of the market deteriorated, the company had to postpone its plans. Although the business has submitted the DRHP to SEBI, the Mobikwik IPO price range, lot size, and dates are still pending. Once the IPO's RHP is authorised and made available to the public, these specifics will be disclosed. There won't be an Offer for Sale (OFS) component to the IPO; instead, it will just involve the issuance of new shares. The shares, which have a face value of Rs. 2 apiece, will be distributed, with a maximum of 10% going to retail individual investors, 15% going to non-institutional investors, and 75% reserved for eligible institutional buyers. MobiKwik also intends to place shares valued at approximately Rs. 140 crore prior to their IPO. If this placement is successful, the new issue will be less in size. MobiKwik intends to utilize the funds raised for various growth initiatives. Approximately Rs 250 crore is earmarked for expanding the financial services business, Rs 135 crore each for growing the payment services and investing in data, AI, and other technologies, and over Rs 70.28 crore for capital expenditure in the payment devices sector and general corporate purposes.

Founded by Bipin Singh and Upasana Taku, MobiKwik now provides a variety of financial services, such as digital payments, credit, and insurance products, in addition to being a mobile wallet provider. With 3.8 million merchant partners and over 146 million registered users, the platform is rather impressive .MobiKwik turned a profit in the six months that ended September 30, 2023, with a profit of $1.1 million (Rs 9.48 crore) on revenue of $29.3 million (Rs 381.09 crore), despite being unprofitable in the fiscal years 2021, 2022, and 2023. In the fiscal year 2022–2023, the company's operating revenue climbed to Rs 539.47 crore from Rs 526.56 crore in the preceding fiscal year. From Rs 128.16 crore in the fiscal year 2022 to Rs 83.81 crore in the year, the loss decreased by 34.60%. In MobiKwik's financial environment, a wide range of shareholders are important. Major firm promoter Bipin Preet Singh owns a huge 19.26% of the business. Bajaj Finance Limited owns a substantial 13.44% of the shares. Owning 13.09% of MobiKwik is Upasana Rupkrishan Taku, one of the co-founders of the company. Peak XV Partners Investments IV, with a 13.06% position, is not far behind. With a 10.47% interest, Net1 Applied Technologies Netherlands B.V. is another noteworthy shareholder. Sequoia Capital India Investment Holdings III owns 3.68% of the company, while Tree Line Asia Master Fund (Singapore) Pte Ltd owns 3.89%. 2.80% is owned by the Abu Dhabi Investment Authority. With a 10.47% interest, Net1 Applied Technologies Netherlands B.V. is another noteworthy shareholder. Sequoia Capital India Investment Holdings III owns 3.68% of the company, while Tree Line Asia Master Fund (Singapore) Pte Ltd owns 3.89%. 2.80% is owned by the Abu Dhabi Investment Authority. Bennett, Coleman and Company Limited, which owns 2.54% of the company, and Cisco Systems (USA) Pte. Ltd., which owns 2.02%, round out the diversified group of shareholders. Renowned for its international financial services, American Express Travel Related Services Company, Inc. owns 1.76% of the company. Finally, the stakes held by GMO Global Payment Fund Investment Partnership and Hindustan Media Ventures Limited are 1.07% and 1.21%, respectively. SBI Capital Markets Limited and DAM Capital Advisors Limited are the book-running lead managers (BRLM) for the initial public offering (IPO), while Link Intime India Private Limited is the offer registrar. The equity shares will be listed in the BSE and NSE.