Indian financial services company MobyQuick seeks ڈالر 255 million in IPO tech

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Indian financial services company MobyQuick seeks ڈالر 255 million in IPO tech

Gurgaon-based mobile wallet service MobiQuicki plans to raise up to Rs 5,255 crore in the initial public offering, the latest Indian start to explore public markets.

The 12-year-old firm, which counts Sequoia Capital India and the Abu Dhabi Investment Authority among its investors and has raised about $ 250 million so far, will offer new shares worth up to 201 201 million and 54 54 million. Will sell equity shares up to Monday, according to papers submitted to the market regulator.

According to two acquaintances, the firm, which allows consumers to make digital payments and sell a small set of insurance and loans, as well as provide them with credit cards operated by American Express. According to individuals, the IPO is valued at about 1 1 billion

“We believe that our key competitive advantage includes our ability to (i) cross-sell. (ii) Taking advantage of data science and technology. And (iii) effective risk management, “MobyQuick wrote in a paper submitted to the market regulator on Monday. (Photo: MobiQuick)

MobyQuick, which has more than 101 million registered users and online, offline and billing merchant partners, For the fiscal year ended March 2021, its gross revenue was about ڈالر 40.5 million, down 18 percent, while its deficit fell 12 percent to 14 14.9 million.

MobyQuicki’s move comes as a handful of Indian startups, including Zumato and PTM, are trying to make the list on the stock exchange. Promoted its dollar fundraising plan, which opens on July 14 and closes on July 16.

This is a developing story. More to follow

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