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MobiKwik’s IPO will value it at $250M, 73% less than its last private valuation
MobiKwik, an Indian financial services startup, has cut its planned IPO size for the third time, setting a price band of 265-279 Indian rupees ($3.1-3.3) MobiKwik has also cut its planned IPO size for the third time.
MobiKwik, an Indian financial services startup, has cut its planned IPO size for the third time, setting a price band of 265-279 Indian rupees ($3.1-3.3) that values it at $250 million — down sharply from its $924 million private valuation in 2021. The 15-year-old startup, which has raised more than $268 million, operates one of the largest mobile wallet apps in India. But it has struggled to maintain relevance after a government-backed protocol, UPI, made faster inroads.
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