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Deepti Sri · · 1 min readSources: MobiKwik appoints investment banks to prep for its 2022 IPO
“In line with its plans to go public in 2022, fintech firm MobiKwik has appointed investment banks ICICI Securities and IIFL, besides a few law firms, to kickstart the work on the draft red herring prospectus,” reported Mint, citing two people familiar with the matter.
Details:
- MobiKwik is also in talks with a few other investment banks to manage the domestic initial public offering (IPO) process.
- Funds raised from the IPO will also provide an exit for the company’s earlier investors.
Context:
- MobiKwik joins a slew of Indian tech startups with IPO plans, such as Paytm, Zomato, and PhonePe, among others that are set to go public during this year and next year.
- Online insurance aggregator Policybazaar is also in talks to hire investment banks for its reported IPO.
Editing by Collin Furtado and Jaclyn Tiu
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