Over two months after receiving approval for its INR 700 crore IPO, MobiKwik has submitted its red herring prospectus (RHP) with market regulator SEBI

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MobiKwik has reduced the size of its fresh issue by approximately 18%, from INR 700 Cr to INR 572 Cr

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This is the third time MobiKwik has lowered the size of its IPO

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According to the RHP, the company's initial public offering will open on December 11 and end on December 13

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MobiKwik's first offer size was INR 700 crore, according to its DRHP submitted in January

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The Delhi NCR-based company will issue equity shares with a face value of INR 2 each, reaching up to INR 572 crore

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MobiKwik will use IPO funds: INR 150 crore for its financial services company and INR 135 crore for its payments service business

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Company would invest INR 107 crore in research and development in data, machine learning, and artificial intelligence, as well as product and technology

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Capital expenditure for the payment device business will be INR 70.28 crore

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Mobikwik posted a net profit of INR 14.1 Cr in FY24 vs a net loss of INR 83.19 Cr in FY23. Operating revenue increased by 62% to INR 875 crore in FY24

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