Page 4 - Mobikwik

MobiKwik cuts issue size for third time, sets price band at Rs 265-279

In FY24, MobiKwik recorded its first fully profitable year, reporting a profit after tax (PAT) of Rs 14.08 crore, following a loss of Rs 83.8 crore in FY23

A litmus test for fintech IPOs as MobiKwik inches closer to listing

After Paytm's disappointing performance after listing in 2021, the markets have evolved and the fintech ecosystem has matured with greater regulatory clarity from the RBI

MobiKwik cut IPO size due to higher FY24 revenue: Co-founder Upasana Taku

A priority for the company is scaling its payments beyond current levels by acquiring new customers, launching new products, and focusing on offline merchant acquisition

MobiKwik launches fixed deposit product with up to 9.5% interest rate

MobiKwik, a digital financial services platform, on Wednesday announced the launch of an Instant Fixed Deposit (FD) product on its mobile app, in partnership with financial services firms. The product aims to simplify the savings process for its users, MobiKwik said in a statement. MobiKwik Fixed Deposits allows users to start investing with as little as Rs 1,000 and earn up to 9.5 per cent returns per annum without opening a new bank account, it said. Users can choose a tenure ranging from 7 days to 60 months depending on their convenience, it said. Premature withdrawals are allowed subject to variations in interest rates as outlined in the terms and conditions of the issuer, it said. Through its partnership with RBI-regulated Small Finance Banks and NBFCs such as Suryoday Small Finance Bank, Bajaj Finance, and others along with technology service provider Blostem, MobiKwik aims to provide security of fixed deposit bookings made on its platform, it added.

Fintech firm MobiKwik gets Sebi approval to raise Rs 700 crore through IPO

The IPO will consist entirely of a fresh issue of Rs 700 crore, with a face value of Rs 2 per equity share. It will not have an offer for sale (OFS) component

MobiKwik turns profitable in FY24 with Rs 14.08 cr profit, revenue up 58.7%

The firm had posted its first-ever consolidated profit of Rs 3 crore during the first quarter of financial year 2024 (Q1 FY24)

MobiKwik wallet numbers rise as banking players go through downturn

Among the non-bank players, MobiKwik had about 134.1 million wallets in January, which rose 2 per cent to 136.8 million in May, ranking the company second in terms of wallet numbers

How fintechs are navigating the compliance maze

Learn the essentials of running a successful fintech startup from Upasana Taku, founder of Mobikwik, India's top payment gateway. > > > >

MobiKwik's Pocket UPI to allow wallet payments without linking to bank

This latest feature is aimed at creating more security and flexibility during transactions by mitigating risks associated with direct bank transfers

Mobikwik refiles draft papers as it trims IPO size down to Rs 700 cr

Earlier in 2021, it had targeted to raise Rs 1,900 cr but withdrew due to weak market conditions

Fintech firm Mobikwik refiles draft papers with Sebi to raise Rs 700 cr

Unicorn fintech firm One MobiKwik Systems Ltd has filed its preliminary papers with markets regulator Sebi to raise up to Rs 700 crore through an initial public offering. This is the second attempt by the Gurugram-based firm for the public issue following its first attempt in July 2021. Earlier, the company shelved its IPO plans and withdrew its draft papers due to unfavourable market conditions. The public issue is entirely a fresh issue of equity shares worth up to Rs 700 crore, as per the draft red herring prospectus (DRHP) filed on Thursday. The company may consider a pre-IPO placement of its securities worth up to Rs 140 crore. If such a placement is undertaken, the size of the fresh issue will be reduced. The proceeds from the fresh issue to the tune of Rs 250 crore will be used for funding growth in the financial services business and Rs 135 crore for the payment services business. Further, Rs 135 crore for investment in data, machine learning and artificial intelligence, a

Sequoia-backed MobiKwik refiles DRHP with Sebi for Rs 700 crore IPO

MobiKwik will consider a pre-IPO placement of Rs 140 crore and if this pre-placement is completed, the fresh issue size will be reduced

Sequoia-backed mobile wallet Mobikwik selects banks for $84 million IPO

The Gurugram-based fintech firm is working with DAM Capital Advisors Ltd and SBI Capital Markets Ltd for preparations for its listing

No plan to enter banking sector: Mobikwik co-founder, CEO Bipin Preet Singh

Singh indicates that an initial public offering (IPO) is on the cards

Mobikwik's Zaakpay gets in-principle nod to operate as payment aggregator

The Reserve Bank of India has allowed the payment gateway to onboard new merchants to its platform

Banking fintech MobiKwik posts second quarter of PAT at Rs 5 crore

The Gurugram-based fintech has a registered base of 140 million users and over four million merchants

Will take a shot at bourses after 3-4 quarters of profit: MobiKwik

Taku said that the company plans on tapping into new investments if it is working on a new product or an inorganic play that requires capital

Fintech platform MobiKwik reports first ever consolidated PAT at Rs 3 crore

To double its revenue in fiscal 2024 to Rs 1,100cr

Fintech firm MobiKwik posts first ever consolidated Q1 profit at Rs 3 cr

Unicorn Fintech firm MobiKwik on Tuesday reported its first ever consolidated profit at Rs 3 crore in the first quarter ended June 30, a senior company official said. MobiKwik Co-Founder and COO Upasana Taku told PTI that MobiKwik has become the first fintech firm to post consolidated profit and expects to maintain the momentum throughout the year. "We have registered an adjusted Earnings before interest, taxes, depreciation, and amortization (EBITDA) of Rs 13.6 crore which is 181 per cent increase on a year-on-year basis. "This is the second consecutive quarter when we have posted positive EBITDA and the first quarter when we have posted consolidated profit after tax of Rs 3 crore. We expect to continue the growth momentum and achieve full-year profitability," Taku said. Taku said that she expects other startups also to turn profitable as it will give a boost to the investment environment in the country and sentiments of investors. She said that MobiKwik has been growing consiste

MobiKwik gets ex-Sebi ED, former SBI Card CEO Prasad in advisory board

Fintech firm MobiKwik has onboarded former Sebi Executive Director and Irdai member Radhakrishnan Nair and ex-MD and CEO of SBI Card Hardayal Prasad to its newly created advisory board. The company has set up an advisory board to help it enhance understanding of regulations, compliance, and industry dynamics, further strengthening its position in the BFSI and fintech sectors. "With a combined experience of eight decades across various financial domains such as banking, securities, insurance, investments, credit cards, payment services, and IPOs, Radhakrishnan Nair and Hardayal Prasad bring unique perspectives that are expected to drive innovation and propel MobiKwik towards even greater growth and success," MobiKwik said in a statement. Nair has over 40 years of experience in banking, securities, and insurance industries. He is serving as an independent director in several other companies, including ICICI Bank and its subsidiaries. Prasad has nearly 40 years of global experience in