Capital market regulator on Friday approved digital payments firm MobiKwik’s plan to launch an initial public offering (IPO) of shares worth up to ₹ 1,900 crore ($253.41 million), a source directly aware of the matter said.
The IPO includes the issue of new shares worth ₹ 1,500 crore and an offer for sale of shares worth up to ₹ 400 crore, diluting the stakes of its two founders and current investors including Sequoia Capital, Bajaj Finance and also include American Express.