Mobikwik IPO is not happening in last quarter of FY22

Indian payment service provider Mobikwik will not be heading for its initial public offering (IPO) in the January to March quarter due to unstable market conditions arising globally.

Mobikwik had received Securities and Exchange Board of India’s (SEBI) approval for its IPO in November 2021. The company had previously also emphasised that they are ready to go for public listing with stronger financials, however, the company would be jumping into the public market once the conditions are favourable. It is important to note that a company can go for an IPO within 12 months of receiving SEBI’s approval. In this case, Mobikwik has the opportunity to hit the public market by November 2022.