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The company recently slashed its issue size to Rs 700 crore from Rs 1,900 crore and refiled the draft papers with SEBI.
This is the second attempt by Gurugram-based One MobiKwik Systems for the public issue following its first attempt in July 2021
Recent events have seen Mobikwik Systems Ltd., which Bipin Preet Singh and Upasana Taku co-founded, strategically reevaluate its plans for an initial public offering. The company decided to take a more simplified strategy and has lowered its aim to Rs 700 crore from the initial big Rs 1,900 crore.
Mobikwik is working with DAM Capital Advisors Ltd. and SBI Capital Markets Ltd. for preparations of its listing, the people said, asking not to be identified as the information is private. The company is aiming to file an initial prospectus as soon as next month and a share sale could happen in 2024, they said.
The Gurugram-based company is partnering with DAM Capital Advisors Ltd and SBI Capital Markets Ltd to steer the process for the $84-million IPO