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Here are all the latest news from the Ipo-Bound train of Indian startups

MobiKwik could postpone its IPO plans due to weak investor sentiment

Fintech start-up Mobikwik could delay its intention to go public by a few months due to concerns over investor interest and skepticism about its business model following the regulator’s digital loan document, confirmed several people aware of the matter. CNBC-TV18.

Mobikwik, a small rival to companies like Paytm, had filed for an initial public offering (IPO) of Rs 1,900 crore in July. This included a new issue of Rs 1,500 crore and an offer to sell (OFS) for another Rs 400 crore. Market regulator SEBI subsequently approved the IPO plans on October 7.

“The plan was first to hit the markets around Diwali, then he (Mobikwik) wanted to wait for Paytm’s response as well. Now it’s unlikely to materialize until Jan-Feb. It all depends on the markets now because that the timing must be right, ”said a person directly involved in the case on condition of anonymity.

Paytm’s disappointing listing and continued underperformance since then played a key role in the decision to postpone IPO plans. MobiKwik’s unlisted shares were trading at around Rs 1,350 before the launch of Paytm’s IPO. Since then, the price of unlisted shares has fallen to around Rs 900, almost 33% lower, according to reports.

Paytm stock up 10% after 2 days of decline; hits a high of Rs 1,525 during the day

Shares of One97 Communications, the newly listed parent company of Paytm, rose 10 percent on Tuesday. The stock was trading at Rs 1,496 at the time of writing, in a sigh of relief for investors after a string of losses after a weak start.

On BSE, the Paytm share was trading at Rs 1,492. The action peaked at Rs 1,525 during the day on both exchanges. The action closed at Rs 1,494.70 on NSE and Rs 1,489 on ESB.

One97 Communications shares debuted weakly on Thursday and fell more than 27% from the issue price of Rs 2,150. Shares fell for the second day in a row on Monday after falling 13%. The stock lost 13.03 percent to close at Rs 1,360.30 on BSE. On NSE it fell 12.89% to stand at Rs 1,359.60.

IPO-linked Pepperfry Secures $ 10 Million Debt: Report

The Pepperfry furniture market fetched another $ 10 million from eight investors in the form of bonded convertible debentures (CCDs), Entrackr reported. This will be the company’s second injection of debt in 2021.

In February, debt firm Venture InnoVen Capital had invested Rs 35 crore in Pepperfry. According to the report, Pepperfry approved the issuance of 74,348 CCDs (Class A Series) with a face value of 10,000 rupees each to raise around 74 crore rupees, or nearly $ 10 million.

Norwest Venture Partners, Broad Street Investments and Erste WV Guttersloh are the biggest investors in this round with Rs 23.28 crore, Rs 18 crore and Rs 15 crore respectively. Panthera Growth Fund, General Electric Pension Trust and Madhumala Ventures have also joined this tranche, the report adds.

According to a mint report, Pepperfry plans to file an initial public offering (IPO) in the first half of 2022 and is expected to raise a pre-public round in the range of $ 50 million to $ 100 million by the end of this year.

(Edited by : Jomy Jos Pullokaran)


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