Sequoia-backed Indian payments firm Mobikwik files for $255m IPO

Sequoia-backed Indian payments firm Mobikwik files for $255m IPO

visual from the company website

Digital payments firm Mobikwik, backed by Sequoia Capital and India’s Bajaj Finance, filed for an initial public offering (IPO) worth up to Rs 1,900 crore ($255 million) with the markets regulator on Monday.

The IPO includes the issue of new shares worth 15 billion rupees and an offer for sale of shares worth up to 4 billion rupees, diluting the stakes of its two founders and current investors, which also include American Express, Cisco and Treeline Asia.

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