The issue size is reduced by 63% from earlier in the current prospectus to Rs 700 crore. However, no existing investors will sell their shares under the latest IPO plans. About 75% of the issue will be available for allocation on a proportionate basis to qualified institutional buyers, 15% to non-institutional investors, and 10% to …
MobiKwik IPO: 8 key things investors need to know from the DRHP Read More »
Ant, an Alibaba Group affiliate, did not immediately respond outside Asia business hours. Alibaba holds a 33% stake in Ant, according to Alibaba’s interim fiscal year 2024 report published in December. Representatives for MultiSafepay did not respond to requests for comment. The acquisition follows Ant Group’s purchase of Singapore-based payments firm 2C2P in 2022.
Digital payments major PhonePe on Friday announced the appointment of Ritesh Pai as CEO of its International Payments business.
Paytm has partnered with Ayodhya Nagar Nigam to enable mobile payments during the upcoming Ram Mandir inauguration. The collaboration will allow Paytm users to make payments using QR codes, soundbox, and card machines. The company will also deploy Paytm card machines at cash collection centers under State Nagar Nigam departments.
“In the last 24 hours, Bitcoin rallied to $44,000 following reports on Thursday about the SEC’s final comments to issuers, hinting at possible approval for Bitcoin spot ETF applications. This recovery reversed Wednesday’s crash, restoring optimism among market participants,” said Edul Patel, CEO of Mudrex. Read on to know more:
A unique aspect around the digital currency is that it can be programmed for specific purposes. That opens up massive opportunities in direct benefit transfer, cash disbursals for specific purposes or something as simple as giving pocket money to children only to be used for canteen food or something specific.
Hong Kong put out a proposal last week to license stablecoins. Singapore has already announced similar intentions. It’s very likely that before the end of 2024, the two financial centers will have come up with rules that US lawmakers have failed to adopt after three years of efforts. Read more:
The proceeds from the fresh issue, to the extent of Rs 250 crore will be used for funding growth in the financial services business, Rs 135 crore for funding growth in the payment services business, Rs 135 crore for investment in data, ML and AI and product and technology, Rs 70.28 crore for Capital expenditure …
Payment Platform MobiKwik refiles DRHP for Rs 700 crore IPO Read More »
Within the retail category, food and beverages accounted for 32.5% of the orders, followed by fashion (29.6%), with the remaining transactions spread across categories such as home and kitchen (12.6%), grocery (10.1%), beauty and personal care (8.5%), and electronics (5.7%). ONDC’s highest single-day orders so far have been about 217,000.
This is Gurugram-based MobiKwik’s second attempt towards an initial public offering (IPO) after it abandoned its listing plans on account of weak market conditions.
