Mobikwik IPO GMP, Price,Review, Date & Important detail 2021

Mobikwik is a fintech firm that is among of India’s leading mobile wallets and Buy Now Pay Later (BNPL) providers. By mixing the ease of regular mobile payments with the advantages of BNPL, they want to meet the unmet credit requirements of the rapidly expanding online paying consumers. Mobikwik IPO will hit the market in September 2021.

About Mobikwik

They began business as a mobile wallet in 2009, formed by Bipin Preet Singh and Upasana Taku to facilitate digital payments simple for their consumers.

Bill payments, online shopping, food delivery, fuel pumps, major retail chains, pharmacies, kirana shops, and more utilize cases have subsequently been added to our list.

Peer-to-peer payments via universal payment interface (“UPI”), MobiKwik Wallet, and MobiKwik Wallet to bank payments are also possible on their platform.

Zaakpay

In 2012, they launched their payment gateway subsidiary Zaakpay to further strengthen their value proposition to their online businesses.

Zaakpay allows online businesses and mobile apps to accept payments from their customers using a variety of methods, such as debit cards, credit cards, mobile wallets, UPI, and net banking.

MobiKwik Zip

MobiKwik Zip, Theirflagship BNPL solution, was introduced in May 2019 with a target on the Indian middle-class audience to allow them to initiate payments for everyday use cases.

MobiKwik Zip aims to provide this underserved Indian people their first taste of credit.

Mission

They are a technology-first business that uses big data analytics and deep data science (especially machine learning) to satisfy their platform’s customers and merchants.

Their goal is to provide inda with a world-class payment and credit solution!

Competitive Advantage and Business Model

The capacity to (1) cross-sell; (2) use data science and technology; and (3) efficiently manage risk are three of their main competitive advantages, according to them.

BNPL’s consumer payments business is the cornerstone of the company. It serves as the top of the channel for acquiring new users that come to their site to make everyday payments.

With MobiScore, the data provided by these users via their transactions is used to analyse risk and underwrite BNPL.

Their merchant network also assists BNPL in increasing user interaction and cross-selling their payment gateway (Zaakpay).

Growth strategy

Their BNPL section benefits from their client payments section (MobiKwik Wallet), which includes brand memory, a huge current KYC user base, massive data to assess customer creditworthiness, and a significant merchant ecosystem.

They think they have a solid foundation to expand the BNPL company in a scalable and successful way as an outcome of the essential building pieces being in place.

In Fiscals 2020 and 2021, they were profitable at the BNPL division results level (i.e. revenue minus direct costs).

Mobikwik IPO

Mobikwik, headquartered in Gurugram has submitted Draft Red Herring Prospectus(DRHP) to Securities and Exchange Board of India(SEBI) for initial public offering (IPO) of INR 1900 crore on 12 July, 2021.

They planned to collect INR 1900 cr via its initial public offering (IPO). There is a fresh issue of 1500 cr. and offer for sale is around 400 Cr. Value Equity Shares mentioned in the drhp of the company.

They are now waiting for approval from Securities and Exchange Board of India(SEBI) to float the initial public offering (IPO) in the market.

Originally published at https://profitmust.com on July 13, 2021.