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MobiKwik , an Amerind financial services startup , has ignore the size of its project IPO for thethird clock time , setting a toll band of ₹ 265 to ₹ 279 ( $ 3.1 to $ 3.3 ) that value it at $ 250 million — down crisply from its last private valuation of $ 924 million in 2021 .
The Gurugram - based fintech , stake by Peak XV and ADIA , is attempt to raise about $ 69 million in the IPO , well below the$255 million it ab initio targeted back in 2021 . The initial public offering open on December 11 , and the livestock will start trading on December 18 .
The 15 - yr - old startup manoeuvre one of the most wide used mobile billfold apps in India . But it has fight to maintain relevance after a government - endorse communications protocol , UPI , learn broader adoption . The ship’s company has raise more than $ 268 million to engagement .
MobiKwik says it will use the proceeds from the IPO to fund its growth and to invest in AI . The startup serves 161 million users and 4.26 million merchants .
