Business

Sebi approves MobiKwik’s Rs 1,900 crore IPO plan: Report

The capital markets regulator on Friday approved digital payments firm MobiKwik’s plan to launch an initial public offering (IPO) of up to Rs 1,900 crore ($253.41 million) shares, a source directly aware of the matter said.

The IPO involves issue of fresh shares worth Rs 1,500 crore and an offer for sale of shares worth up to Rs 400 crore, with lesser holdings from its two founders and existing investors, including Sequoia Capital, Bajaj Finance and American Express.

MobiKwik did not immediately respond to a request for comment.

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