Mobikwick lines up its own IPO 🔥

Mobikwick lines up its own IPO 🔥

Back on Dalal Street, Mobikwick dropped its docs by SEBI’s office, for that imminent IPO — trying to get some limelight for itself.

Quick look at what we know so far:

  • Made ₹300 crores in revenues for 2020, down 18% YoY — thanks to COVID freezing small businesses, and holding payments volumes back
  • Meanwhile, losses jumped — ₹111 crores in the same year, up 12% YoY
  • Operates in BNPL, Wealth management, Insurance, as well as a Merchant Payment gateway biz, beyond the Mobile Wallet

At a high level, the business looks like it spread too thin — with its foot in too many things, and struggling to make headway in each. Recent hack and management’s terrible handling of it, adds more unknowns to the mix.

Season 16 Cooking GIF by FOX TV
GIPHY