Paytm's rival is coming out with Rs 1900 crore IPO

Source :Sify
Author :Finance Desk
Last Updated: Mon, Jul 12th, 2021, 21:17:38hrs
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Mumbai: Mobikwik, the digital payment company and the rival of Paytm will soon be unveiling a Rs 1,900 crore IPO.

According to a Reuters report, the enterprise backed by Sequoia Capital and Bajaj Finance will soon roll out an Initial Public Offering. And the draft documents are with the markets regulator. 

Additional information suggests that shares worth Rs 1,500 crores would be made available via fresh and existing shares. An Offer for Sale (OFS) of nearly 400 crores and Rs 1,500 crores by way of new shares would be seen in the IPO.

ICICI Securities, BNP Paribas, Credit Suisse, IIFL Securities and Jefferies are the book managers.

At $2.3 billion, Paytm's IPO is ten times bigger than Mobikwik's $255 million. 

More details are expected to be soon made available on the website of the markets regulator.

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