Rare Indian Shares ( by Ashwani K Aggarwal ): Altius/ Sandip Ginodia Reviews Mobikwik's IPO and Unlisted Market Updates

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Today we put some light on one of the most anticipated Fintech, Mobikwik's initial public offering that is on cards, its Shareholding structure.and who might dillute their holdings in the much awaited IPO.

The company is looking to raise INR 1,900 Cr from the public market through a mix of issuing fresh share and offer for sale.
The founders of the company along with American Express, Sequoia Capital, Tree Line Asia are to dillute their holdings.
The founders, Bipin Preet Singh and Upasana Rupkrishan Taku hold a total of 34.51% stake in their startup.

Mobikwik was founded in 2009 by Bipin Preet Singh and his wife Upasana Tak, as a digital wallet but gradually forayed into a horizontal fintech platform that now offers services such as credit, insurance, and gold loans among others. The startup was last valued at $700 Mn after it raised $20 Mn (INR 150 Cr) in June this year from Abu Dhabi Investment Authority (ADIA).

As per the DRHP, Mobikwik’s revenue from operations fell by 18.7% to INR 288.5 Cr in FY21 from INR 355.6 CR in the previous year (FY20). The company posted a total income of INR 302 Cr in the March ended financial year, a drop of 18% from INR 369 Cr that was recorded in FY 20.

As per the DRHP filing, American Express will be offloading its shares up to INR 9.9 Cr, whereas Bajaj Finance will offer equity shares worth up to INR 68.9 Cr for sale. Cisco Systems and Sequoia to offload shares worth up to INR 11 Cr and INR 94 Cr respectively. Treeline Asia will offer for sale of shares worth up to INR 24 Cr. The founders will be offloading the most as Singh will be offloading shares worth INR 111 Cr whereas Taku will offer for sale worth up to INR 78 Cr.

We would love to hear what you think about the IPO or if you want to discuss on the same. We are all ears!!

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Here are some IPO and other relevant news updates for unlisted - private equity companies below -

Paytm allots stock worth Rs 189 Cr to former and existing staff before IPO

Digital payments firm Paytm has allotted equity shares to its 166 former and current employees following the exercise of ESOPs held by them.

According to Paytm’s regulatory filings, the company has allotted 10,11,582 equity shares to the employees who have submitted the application for exercising the options vested to them under ESOP Scheme 2008 and ESOP Scheme 2019.

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Reliance Retail's open offer for Just Dial shareholders to start on Sep 13

Reliance Retail Ventures Ltd's open offer for the shareholders of Just Dial to buy an additional 26 per cent stake in the company will commence on September 13 and close on September 24, according to a regulatory filing.
Earlier this month, RRVL had announced the acquisition of 40.95 per cent stake in Just Dial for Rs 3,497 crore and said it will make a public announcement for an open offer for acquiring up to 2.17 crore equity shares of Just Dial (representing 26 per cent share in the company).

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Tata Technologies ready for inorganic growth to scale up operations

Tata Technologies, an engineering services and product development IT services company, expects strong growth in the next 3-5 years as its new Bengaluru facility scales up operations, its chief executive said.

The company, 74 percent owned by Tata Motors, India’s third largest carmaker, is looking at both organic and inorganic growth prospects, its Managing Director and CEO Warren Harris told Moneycontrol.

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Thanks to PLI scheme, mobile phone exports surge 250%

24The export of mobile phones from India grew by a massive 250 per cent year-on-year in the April-June quarter of FY22, thanks to the production-linked incentive (PLI) scheme.

According to data released by the India Cellular and Electronics Association, mobile exports in the June quarter of FY22 climbed to ₹4,600 crore, a 250 per cent jump from ₹1,300 crore in the June quarter of the previous year.

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Debt reduced significantly, management working on bringing firm back on track: Coffee Day Enterprises

Coffee Day Enterprises Ltd (CDEL) said it has reduced debt "significantly" and the management is putting its best efforts to get back the company on track. According to its latest annual report, CDEL's net debt as on March 31, 2021 was Rs 1,731 crore.

"The total loan funds stood at Rs 1,779 crore which comprises of long-term borrowings of Rs 1,263 crore and short-term borrowings of Rs 516 crore," it said.

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Tata Technologies ready for inorganic growth to scale up operations

Tata Technologies, an engineering services and product development IT services company, expects strong growth in the next 3-5 years as its new Bengaluru acility scales up operations, its chief executive said.

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Further, to discuss any of the 75+ Unlisted/Pre-IPO/Startup/Rare Equity Shares we deal in, feel free to get in touch regarding the same.

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Regards,
Sandip Ginodia

Abhishek Securities©
Altius Investech P Ltd.
W: www.abhisheksecurities.com
M: +91 9830271248
E: sandip@abhisheksecurities.com

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