BENGALURU: Mobikwik has received approval from Sebi for its Rs 700-crore IPO. The company has refiled its IPO papers with Sebi on Jan 4.
The proceeds from the fresh issue will be allocated to accelerate growth – Rs 250 crore for funding growth in the financial services business, Rs 135 crore each for funding growth in the payment services business and investment in data, ML, AI, product, and tech, Rs 70 crore for capital expenditure.