Tue Dec 10 04:48:22 UTC 2024: ## MobiKwik Sets Sights on IPO, Targets ₹2,300 Crore Valuation
**Gurugram, India – October 26, 2024** – Fintech company MobiKwik is gearing up for its initial public offering (IPO), scheduled for December 11th to 13th, 2024. The company, which offers a range of digital payment and financial services including its popular buy-now-pay-later product, MobiKwik ZIP, aims to raise capital to fuel further growth and expansion.
MobiKwik, boasting 161.03 million registered users and 4.26 million merchants as of June 30, 2024, plans to leverage the IPO proceeds to bolster its financial and payment services, invest in data science and AI, upgrade its technology infrastructure, and expand its payment device business. The company anticipates a market capitalization of approximately ₹2,300 crore following the IPO.
This marks MobiKwik’s second attempt at going public, having previously withdrawn its IPO plans in 2021 due to unfavorable market conditions. The company has since revised its IPO size. Recent financial reports show a significant increase in revenue (59% to ₹890.32 crore) and profit after tax (117% to ₹14.08 crore) between FY23 and FY24.
MobiKwik operates in a competitive landscape dominated by players like PhonePe, Paytm, Airtel Payments Bank, and Freecharge. The success of its IPO will depend on its ability to convince investors amidst this challenging market environment.
First Piper 