About MobiKwik
Mobikwik is a platform that specializes in collecting and dispersing monetary transactions and also performing trading as a brokerage. It operates in India through the company’s founder. Despite the founders being in the US, the company’s headquarters is located in India where the collegian founders made it. It is one of India’s top online payment platforms. The company has around 100 million active users, which is impressive. Established in 2009, Mobikwik has been constantly active in the fields of innovation and the provision of new services. For more than a year, how can one forget the mobile wallet, or rather mobile payment services that have been widely spoken about.
MobiKwik: IPO
So now to proceed to the opening part and how has it been able to sustain itself. The plan for the IPO has been long in the waiting however with the troubles that started the company the wait was too long. The marketplace in India in turn proving difficult for any plans to cement themselves or more so gain penetration. And with these ideas surrounding them that is when the announcement came that Mobikwik would Oder themselves off ring in the year 2021.
- IPO Size: Approx. ₹1,900 crore
- Issue Price Band: ₹920-₹936 per share
- Listing Exchanges: BSE and NSE
The IPO proceeds are intended to be utilized for customer acquisition, technology enhancement, and expanding the company’s digital credit offerings.
IPO GMP
Before MobiKwik’s IPO was officially out, The Grey Market Premium (GMP) of MobiKwik’s IPO had a lot of fluctuations. Although the onset interest was considerably positive, volatility moderated the sentiments of the investors. However, it has become increasingly evident that such fluctuations in GMP are illustrative of the earnings, or loss, when however the shares are listed as well as how there is an overriding demand for such shares within the unregulated grey market.
Allotment Status
Investors looking for IPO status for the MobiKwik can have a look at the allotment through their respective stock exchange portals or the website of the registrar. Applicants have to enter their application number to check the details of the allotment status or their PAN.
MobiKwik Upcoming Projects
MobiKwik is actively expanding its offerings to include:
- Digital Lending: Strengthening its BNPL (Buy Now, Pay Later) feature.
- AI-Driven Solutions: Introducing AI-powered credit scoring and personalized financial services.
- Global Expansion: Targeting international markets, starting with Southeast Asia.
- Partnerships: Collaborating with financial institutions for co-branded credit cards.
These initiatives highlight MobiKwik’s focus on innovation and diversification to remain competitive.
MobiKwik: Revenue & Profit
MobiKwik has demonstrated consistent growth in its financial performance. Key figures include:
| Year | Revenue (₹ Cr) | Net Profit/ Loss (₹ Cr) |
| 2021 | 302 | -111 |
| 2022 | 536 | -79 |
| 2023 | 719 | -48 |
Even as the company is focusing on increasing revenues from transactions and digital lending, it has still not been able to make profits. With focused strategies in place, MobiKwik expects to become a profitable entity in the year’s prospect.
MobiKwik CEO Bipin Preet Singh
Bipin Preet Singh, the CEO and co-founder of MobiKwik, has played a pivotal role in revolutionizing the fintech sector. With a B.E. (Hons.) in Electrical Engineering from IIT Delhi, Singh honed his skills working with leading software companies and consulting for multinational enterprises before embarking on his entrepreneurial journey. In 2009, he recognized the need for a convenient mobile wallet, laying the foundation for MobiKwik. Known for his innovative and resilient leadership, Singh has successfully navigated challenges like policy changes and intense market competition, ensuring MobiKwik’s growth and strong positioning in the fintech space under his visionary guidance.
Top Secure Payment Wallets in India
India’s digital payment ecosystem hosts numerous secure and reliable wallets. Below is a comparative table:
| Wallet | Key Features | Market Share |
| MobiKwik | Digital lending, Secure payments | 15% |
| Paytm | Extensive merchant network, Cashback | 35% |
| PhonePe | UPI transactions, Seamless integration | 40% |
| Google Pay | User-friendly, UPI support | 30% |
| Amazon Pay | E-commerce integration, Rewards | 10% |
Is MobiKwik Approved by RBI?
It is true that MobiKwik is licensed by Reserve Bank of India (RBI) and has an operational status of being a registered Pre Paid Payment Instrument Issuer. This particular endorsement allows for the MobiKwik’s services to incorporate quite stringent and well designed safety protocols thereby assuring safety for its users.
Is MobiKwik a Profitable Company?
At the present moment MobiKwik is not a profitable company although that does not mean that it is not on the path of attainment of profitability. Some of the company’s losses in the recent past few years have reduced substantially due to increase in the revenue and efficient cost control. With it having a strategic outlook growth in some of its services that have higher margins which are digital lending, MobiKwik hopes to be embargo free and have returned a profit in the period of time that is closest to that date.
Who Invested in MobiKwik?
MobiKwik has managed to raise funds from a few of the biggest firms and individuals out there. These investors include:
| Investor | Investment Amount (₹ Cr) | Stake (%) |
| Sequoia Capital | 300 | 15% |
| American Express | 200 | 10% |
| Bajaj Finance | 400 | 20% |
| Tree Line Asia | 150 | 7% |
These funds raised have hugely enhanced the valuation of MobiKwik and have also assisted the company in the requisite capital for scaling up its business.
Conclusion
MobiKwik has come a long way as a digital payment service provider, which simply goes on to show the company’s dedication towards providing impressive solutions and putting customers first. As much as the company has several challenges such as being able to become profitable and sustain competition, its plan of concentrating on digital lending, AI solutions and expansion abroad will ensure growth for the company. Having the support of investors and getting the necessary approvals from the RBI, MobiKwik continues to be one of the most important players in the fintech industry in India.
