News > Mobikwik gets Sebi nod for IPO; plans to raise up to Rs 1,900 cr

Mobikwik gets Sebi nod for IPO; plans to raise up to Rs 1,900 cr

Gurgaon-based MobiKwik has received Sebi's approval to launch an initial public offering, through which it plans to raise up to Rs 1,900 crore. It had filed the Draft Red Herring Prospectus (DRHP) for the Initial Public Offering (IPO) with Sebi in July.

Out of the total, Rs 1,500 crore will be mopped up through fresh issue of shares, while Rs 400 crore-worth stocks will be offloaded through the Offer-for-Sale (OFS) route by existing shareholders.