Indian payments firm MobiKwik turns unicorn as staffers exercise ESOPs ahead of IPO

Indian payments firm MobiKwik turns unicorn as staffers exercise ESOPs ahead of IPO

visual from the company website

MobiKwik, which earlier this week received the market regulator’s approval to float a 1,900 crore ($251 million) initial public offering (IPO), became the 32nd Indian unicorn this year after concluding a secondary transaction that valued the digital payments firm at $1 billion, a person familiar with the development said.

The transaction was led by former Blackstone India head Mathew Cyriac, who doubled down on his MobiKwik bet, buying shares at almost twice the price he had invested in the startup earlier this year, the person said, requesting anonymity.

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