One Mobikwik Systems, the Gurugram-based fintech platform, has recently resubmitted its Draft Red Herring Prospectus (DRHP) to SEBI, signaling a fresh attempt to launch an Initial Public Offering (IPO) and raise ₹700 crore.

Founders' Vision:

Founded by Bipin Preet Singh and Upasana Taku, Mobikwik is dedicated to utilizing technology for enhancing financial inclusion among underserved populations in India. Drawing on their expertise in technology and finance, the founders aim to provide an extensive range of payment and financial services to businesses and merchants.

Insights into the Mobikwik Unlisted Share IPO

a) Capital Raise: The IPO is set to mobilize ₹700 crore through a fresh equity issue with a nominal value of ₹2 per share.

b) Strategic Placement: Mobikwik is contemplating a preferential pre-IPO placement of ₹140 crore in consultation with lead managers.

c) Utilization of Funds: The anticipated ₹700 crore net proceeds will be allocated for diverse purposes, including fueling growth in financial services and payment solutions, investments in data, machine learning (ML), and artificial intelligence (AI), alongside capital expenditure for the payment devices business.

Financial Snapshot: As of September 30, 2023

a) Registered Users: 146.94 million
b) Merchants Enabled: 3.81 million
c) Robust Growth: Payment Gross Merchandise Value (GMV) up by 32.33% annually
d) Revenue (H1 2023): ₹381.09 crore
e) Profit After Tax (H1 2023): ₹9.48 crore

Financial Year 2022-23

a) Revenue: ₹539.47 crore

b) Net Loss: ₹83.81 crore

IPO Management Team

a) Book-Running Lead Managers: SBI Capital Markets and DAM Capital Advisors

b) Registrar: Link Intime India

Awaiting Specifics

Final details, including the IPO price band, lot size, and specific dates, will be unveiled in the Red Herring Prospectus (RHP) post-regulatory approval.

In essence, Mobikwik's refiled DRHP underscores its commitment to utilizing IPO proceeds for strategic growth, technological advancements, and the continual expansion of its financial services landscape in India. As investors anticipate more details on pricing and key dates, the company charts its course towards a significant public listing on both BSE and NSE.