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RBI imposes fine on One Mobikwik Systems, Spice Money : Rashtra News #RBI #imposes #fine #Mobikwik #Systems #Spice #Money The Reserve Bank of India has imposed a penalty of Rs 1 crore each on One Mobikwik Systems and Spice Money for violation of norms on net worth requirement provided by the regulator for Bharat Bill
MobiKwik had in 2021 filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) but eventually abandoned it citing weak market conditions. The size of the new IPO is less than half of the ₹1,900 crore MobiKwik had intended to raise in its first attempt.
This is the second time One MobiKwik Systems has filed its draft papers. MobiKwik had abandoned its initial listing plans in 2021, citing weak market conditions. Here's a look at how it is shaping up its business.
India Business News: In what will be its second attempt at going public, One MobiKwik Systems - parent company of fintech firm MobiKwik - on Friday filed a fresh draft red
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.