MobiKwik Gets Some Cash from ADIA
Posted on 06/09/2021
Digital payments platform MobiKwik is a Gurugram-based company. MobiKwik’s board of directors approved the allotment of 83,165 Series G preference shares and one equity share at the price share of Rs 17,916 per share to Abu Dhabi Investment Authority (ADIA) to raise Rs 149 crore or $20 million, according to regulatory filings.
SWFI estimates the ADIA picked up a 2.78% stake in company MobiKwik, which hopes to go public in September 2021.
MobiKwik rival Paytm also plans to go public in 2021.