Mumbai: Digital Mobikwik Payment Company, supported by Sequoia Capital and India’s Bajaj Finance, submitted an initial public offering (IPO) which is worth 1,900 crore ($ 255 million) with a market regulator on Monday.
The IPO includes new shares issues worth 1,500 crore and offers for stock sales that are worth RS 400 Crore, dilute the second betting of the founders and investors today, which also include American Express, Cisco and Treeeline Asia.
Mobikwik has hired ICICI Securities, BNP Paribas, Credit Suisse, IIFL Securities, and Jefferies as a book manager for the IPO.
ONE97 COMMUNICATIONS LTD, the parent Paytm digital payment company, a larger Mobikwik rival, also plans to collect $ 2.3 billion through the IPO, the previous source told Reuters.