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New Delhi, Unicorn Fintech firm <keyword id="143842" type="General" weightage="20" keywordseo="MobiKwik" source="Orion">MobiKwik</keyword> on Tuesday reported its first ever consolidated profit at Rs 3 crore in the first quarter ended June 30, a senior company official said. MobiKwik Co-Founder and COO Upasana Taku told PTI that MobiKwik has become the first fintech firm to post consolidated profit and expects to maintain the momentum throughout the year. "We have registered an adjusted Earnings before interest, taxes, depreciation, and amortization (EBITDA) of Rs 13.6 crore which is 181 per cent increase on a year-on-year basis. "This is the second consecutive quarter when we have posted positive EBITDA and the first quarter when we have posted consolidated profit after tax of Rs 3 crore. We expect to continue the growth momentum and achieve full-year profitability," Taku said. Taku said that she expects other startups also to turn profitable as it will give a boost to the investment environment in the country and sentiments of investors. She said that MobiKwik has been growing consistently without cash burn and margins have been improving quarter over quarter. "Our revenues grew to Rs 177 crores in the quarter, which is 68 per cent higher compared to corresponding quarter last fiscal and contribution margin rose by 108 per cent to Rs 73.9 crore," Taku said. In the March 2023 quarter, MobiKwik had posted revenue of Rs 160 crore and recorded an adjusted EBITDA of Rs 3 crore. "In FY 2022-23, we achieved all the major goals we set for MobiKwik the previous year. First quarter has been a good start to the fiscal year. Our numbers are positive in all parameters, be it adjusted EBITDA, EBITDA or PBT (profit before tax). We expect to deliver over 80 per cent topline growth for this fiscal year," Taku said. Peak XV backed MobiKwik ended the financial year 2022-23 with Rs 560 crore in revenue and became profitable from the fourth quarter of the financial year 2022-23, and its contribution margin rose to Rs 169.5 crore as compared to Rs 42 crores in FY 2021-22, nearly 304 per cent Y-o-Y growth. She said that the company gets about half of the business from payments services which is mainly payment made from wallet service and the rest of the half from distribution of financial services comprising buy-now-pay-later, consumer loans etc. The company at present has over 14 crore registered user base and around 40 lakh merchant partners.

MobiKwik posts first ever consolidated profit in Jun quarter 2023-24

<ul><li>The company plans to use the fresh funding for marketing purposes, hiring people and acquiring new businesses.</li><li>The fintech startup had raised $20 million last year, at a valuation of $700-$750 million.</li><li>A company can go for an IPO within 12 months of receiving SEBI’s approval, which <keyword id="143842" type="General" weightage="20" keywordseo="mobikwik" source="Orion">Mobikwik</keyword> got last November.</li></ul>Gurugram-based Mobikwik is in talks to raise $100 million as there has been a delay in its initial public offering (IPO) plans, the digital payments company’s founder and CEO Upasna Taku said. Taku, in a conversation with <a href="https://www.bloomberg.com/news/articles/2022-06-08/mobikwik-seeks-to-raise-100-million-after-deferring-planned-ipo">Bloomberg</a>, revealed that the company plans to use the fresh funding for marketing purposes, hiring people and acquiring new businesses. The company has not yet decided the valuation for the current funding round, she said. The fintech startup had raised $20 million from Abu Dhabi Investment Authority (ADIA) in June last year, at a valuation of $700-$750 million. So far, the payment service has raised $176 million in funding, according to business insights platform <a href="https://www.crunchbase.com/organization/mobikwik">Crunchbase</a>. The company counts American Express, Bajaj Finance, Cisco System, Sequoia Capital and Treeline Asia as investors, who will also be selling a part of their shareholdings in the IPO. The company intends to raise ₹1,900 crore through this IPO. Taku confirmed that the company still plans to launch an IPO but at a more opportune time. In a previous conversation with Business Insider, Taku mentioned that the company still has till <a href="https://www.businessinsider.in/business/startups/news/mobikwik-ipo-is-not-happening-this-quarter/articleshow/89891819.cms">November 2022 to head for an IPO</a> as they received Securities and Exchange Board of India’s (SEBI) approval in November last year. A company can go for an IPO within 12 months of receiving SEBI’s approval. <cmsannotation type="cmsannotation" annotationid="Unstable markets and lacklustre IPOs make Mobikwik jittery" comment="subhead" text="Unstable markets and lacklustre IPOs make Mobikwik jittery">Unstable markets and lacklustre IPOs make Mobikwik jittery</cmsannotation> Taku said the company is waiting for stable market conditions to go public. “As you can see, they [markets] are fairly up and down and unstable. And not just in India but even globally. Now thanks to the <a href="https://www.businessinsider.in/politics/world/news/trump-warns-of-a-potential-world-war-as-a-result-of-russia-ukraine-conflict/articleshow/89878873.cms">Ukraine-Russia war cry</a>, I think, aur he hone wala hai [the instability is likely to extend]. I don’t think it will be possible for any tech companies to IPO anytime soon, definitely not in the next couple of months,” <a href="https://www.businessinsider.in/business/startups/news/mobikwik-ipo-is-not-happening-this-quarter/articleshow/89891819.cms">Taku told Business Insider </a>in February 2022. However, an IPO is still on the cards, and Mobikwik is ready, she added. “But it is definitely a target for us to get to the public markets. We have the SEBI approval, our numbers even for the December quarter are fantastic. We are ready. Business performance is strong, SEBI approval is there. But the markets are not ready so we have to make sure that we continue building the platform and wait for the right time,” she added. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/business/ecommerce/news/flipkart-has-lived-up-to-expectations-so-far-says-walmart-ceo-confirms-ipo-plans/articleshow/92096890.cms">Flipkart has ‘lived up to expectations so far’, says Walmart CEO, confirms IPO plans</a> <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-has-lived-up-to-expectations-so-far-says-walmart-ceo-confirms-ipo-plans/articleshow/92096890.cms"></a><a href="https://www.businessinsider.in/business/startups/news/pepper-content-raises-14-million-to-enter-the-us-market/articleshow/92084581.cms">INTERVIEW: Pepper Content skip the traditional Middle East route, heads directly for the US market</a> <a href="https://www.businessinsider.in/business/ecommerce/news/after-amazon-flipkart-reliance-and-tata-neu-indias-133-billion-ecommerce-market-may-be-too-little-for-a-fifth-player/articleshow/92062540.cms">After Amazon, Flipkart, Reliance and Tata Neu, India's $133 billion ecommerce market may be too little for a fifth player</a>

Mobikwik looks to raise $100 million as it delays IPO plans, founder says the ‘markets are not ready’

Paytm, PolicyBazaar, MobiKwik, Nykaa and more — Ten most awaited IPOs in the coming months

<ul><li><keyword id="3163762" type="PERSON" weightage="20" keywordseo="SonyLIV">SonyLIV</keyword> has roped in over 50 advertisers for India’s tour of Sri Lanka comprising three ODIs and three T20s.</li><li>Some of the brands it has onboarded includes Apple, HUL, Amazon, JSW, TVS, Tata Motors, <keyword id="26280" type="COMPANY" weightage="20" keywordseo="amul">Amul</keyword>, <keyword id="11673053" type="UNKNOWN" weightage="20" keywordseo="dafanews">Dafanews</keyword>, <keyword id="6416838" type="PERSON" weightage="20" keywordseo="coindcx">CoinDCX</keyword>, <keyword id="143842" type="COMPANY" weightage="20" keywordseo="Mobikwik">Mobikwik</keyword>, <keyword id="4306161" type="PERSON" weightage="20" keywordseo="Cars24">Cars24</keyword>, Medibuddy, Bridgestone, Acko General Insurance &amp; GoDigit amongst others.</li></ul>SonyLIV has announced that it has roped in over 50 advertisers including brands like Apple, HUL, Amazon, JSW, TVS, Tata Motors, Amul, Dafanews, CoinDCX, Mobikwik, Cars24, Medibuddy, Bridgestone, Acko General Insurance &amp; GoDigit amongst others for India’s tour of Sri Lanka comprising three ODIs and three T20s that began on July 18 and will go on till July 29. The series can be viewed live across 6 different languages including Hindi, English, Tamil, Telugu, Malayalam, and Bengali only on SonyLIV. With the increasing viewership coupled with the love for cricket amongst fans, SonyLIV has also locked sponsorship deals with some of the most prominent brands like Vimal, Betway, WazirX, and Swiggy. The platform is also set to provide comprehensive coverage of the Tokyo Olympics 2020 from July 23. Ranjana Mangla, Sr. VP &amp; Head of Ad Revenue, SonyLIV said, "We are elated to witness an overwhelming response from our advertising partners for all our sporting events that air on SonyLIV. Following the success of Euro 2020, we have managed to onboard more than 50 advertisers and multiple sponsors for India’s tour to Sri Lanka. Like always, we are committed to providing the best viewing experience for all global sporting events on the platform."

SonyLIV on-boards over 50 advertisers for India’s tour of Sri Lanka

<ul><li>The new changes will affect companies like <keyword id="6357120" type="DEFINITION" weightage="20" keywordseo="paytm">Paytm</keyword>, <keyword id="6357886" type="UNKNOWN" weightage="20" keywordseo="phonepe">PhonePe</keyword>, <keyword id="143842" type="COMPANY" weightage="20" keywordseo="Mobikwik">Mobikwik</keyword>, and <keyword id="2750705" type="PERSON" weightage="20" keywordseo="Google-Pay">Google Pay</keyword> among others.</li><li>These mobile wallet operators had certain leeway with <keyword id="167905" type="COMPANY" weightage="20" keywordseo="KYC">KYC</keyword> whereas banks had to meet full KYC requirements.</li><li>To cushion the need for new compliance, the <keyword id="30067" type="COMPANY" weightage="20" keywordseo="RBI">RBI</keyword> has also doubled the amount of money that can be stored in these wallets to ₹2 lakh.</li><li>The RBI had earlier in October 2018 announced that KYC and interoperability will be voluntary for PPIs.</li><li>Check out the latest news and updates on <a href="https://www.businessinsider.in/">Business Insider</a>.</li></ul><keyword id="6354335" type="COMPANY" weightage="20" keywordseo="reserve-bank-of-india">Reserve Bank of India</keyword> governor Shaktikanta Das today said that prepaid mobile wallet operators like Paytm, PhonePe, Mobikwik, and Google Pay among others will also need to implement full KYC (Know Your Customer) process soon. KYC guidelines are mandatory mobile companies and financial services companies to identify and verify their customers, which is done at the time of opening an account and repeated at regular intervals. Currently, <keyword id="6368227" type="UNKNOWN" weightage="20" keywordseo="Mobile-Wallets">mobile wallets</keyword> had some leeway, whereas similar products issued by banks had to meet all the KYC norms. The RBI had earlier in October 2018 announced that KYC and interoperability will be voluntary for prepaid payment instruments (PPIs) such as cards, wallets etc. This has been made mandatory now. “As migration towards interoperability has not been significant, it is now proposed to make interoperability mandatory for full payment acceptance infrastructure. To incentivise migration of PPIs to full KYC it is proposed to increase the current outstanding balance from ₹1 lakh to ₹2 lakh,” said Das. The apex bank’s statement said that the move was being brought in ‘to promote optimal utilisation of payment instruments, and given the constraint of scarce acceptance infrastructure (like PoS devices, ATMs, QR codes, bill-payment touch points, etc.)’. The new KYC norms for mobile wallets will not kick off immediately. The central bank said that detailed instructions for the same would be released soon. Additionally, the RBI has also put forth another benefit for non-bank PPIs. "As a confidence-boosting measure, it is proposed to allow the facility of cash withdrawal, subject to a limit, for full-KYC PPIs of non-bank PPI issuers as well," said the statement from RBI. With this, wallets like that of Paytm, Mobikwik can be used to withdraw cash from ATMs. Earlier, banking PPIs like Yono app from SBI had this facility.

You need to do full KYC for mobile wallets too – but you can store twice the amount of money

<ul><li>As the year of most IPOs in India comes to an end, another one kicks off.</li><li>The excitement for IPOs, particularly from retail investors, is likely to be a lot sober in 2022, says <keyword id="1038160" type="General" weightage="20" keywordseo="ajay-saraf" source="Orion">Ajay Saraf</keyword>, head of investment banking and institutional equities at ICICI Securities.</li><li>That would mean companies would be less confident in demanding high valuations, leaving more profit on the table for small investors in good companies.</li><li>Check out our <a href="https://www.businessinsider.in/bi-newsletter">weekly explainers</a> on the hottest topics and <a href="https://www.businessinsider.in/newsletters_signup.cms">sign up</a> if you like them</li></ul>The bull run in Indian equities that continued from mid-2020 up until late 2021 had drawn in hordes of companies, including the likes of <keyword id="830092" type="General" weightage="20" keywordseo="zomato" source="Orion">Zomato</keyword>, <keyword id="6376684" type="General" weightage="20" keywordseo="nykaa" source="Orion">Nykaa</keyword> and <keyword id="6357120" type="General" weightage="20" keywordseo="paytm" source="Orion">Paytm</keyword>, who wanted to make the best of the brimming optimism and get the best price for their shares. Millions of retail investors wanted a part of the boom in Asia’s best performing stock market, and a lot of IPOs benefited from the frenzy. That kind of unbridled enthusiasm is unlikely in 2022, according to Ajay Saraf, head of investment banking and institutional equities at ICICI Securities in an interview to Business Insider. Saraf is not alone. Srinivas Rao Ravuri, chief investment officer at PGIM India Mutual Fund also <a href="https://www.moneycontrol.com/news/business/markets/daily-voice-2022-would-be-a-challenging-year-for-investors-and-companies-planning-ipos-says-srinivas-rao-ravuri-of-pgim-india-mf-7856261.html">reportedly</a> believes that 2022 would be a challenging year for investors and companies planning IPOs. But that’s not entirely a bad thing. If the cautious mood makes good companies, who need to raise money, tone down the pricing it may leave more profit on the table for small investors. There were 63 initial public offerings (IPO) in 2021 and they raised a cumulative <a href="https://www.businessinsider.in/stock-market/news/list-of-upcoming-ipo-in-year-2022-in-india-ags-transact-adani-wilmar-prudent-corporate-advisory/slidelist/88492728.cms">₹1.18 lakh crore from investors</a> [hyperlink]. And, some of them doubled, or more, the <keyword id="1184176" type="General" weightage="20" keywordseo="ipo-investors" source="Orion">IPO investors</keyword>’ money on listing itself. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Top performing IPOs of 2020 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">% of listing gains </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Macrotech Developers </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">159% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Laxmi Organics </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">152% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Easy Trip Planners </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">151% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Barbeque Nation Hospitality </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">125% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Nureca </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">116% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">StoveKraft </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">115% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">MTAR Technologies </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">110% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Sona BLW Precision Forgings </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">102% </td></tr></tbody></table> But, 2022 is likely to be different. “My sense is 2022 could be more volatile… and the issue would be stuff like hike in global interest rates, tapering, central bank prioritising inflation over growth and increasing interest rate earlier than expected, which might make the market volatile and IPOs may not be as smooth and great as 2021,” said Saraf. Here’s an <a href="https://www.businessinsider.in/stock-market/markets/news/heres-why-the-spike-in-inflation-in-the-us-may-worry-markets-in-india/articleshow/82597218.cms">explainer</a> on why the rising inflation, and the expected hike in interest rates, in the US may affect markets in India. If the market mood is uncertain, then the companies planning IPOs are likely to be less confident in seeking high valuations. Startups like <keyword id="143842" type="General" weightage="20" keywordseo="mobikwik" source="Orion">Mobikwik</keyword> are already waiting patiently before they launch the IPO to get the best price. Founder Upasana Taku told Business Insider that she is <a href="https://www.businessinsider.in/business/startups/news/mobikwik-founder-says-they-are-not-selling-any-shares-in-the-ipo/articleshow/88392998.cms">waiting for the market conditions to improve</a> even though she has the SEBI approval to launch the IPO. Legendary investor Warren Buffet has said in the past that he has never invested in an IPO. “The idea of saying the best place in the world where I can put money is something where all the selling, and their commissions are higher, the animal spirits are rising, that’s going to be better than a thousand other things I can where there is no similar selling enthusiasm, and the desire to get the deal done and earn some commissions. That’s the best thing to buy in a single day?,” Buffett <a href="https://www.cnbc.com/video/2019/05/06/warren-buffett-on-why-hes-never-bought-an-ipo.html">asked in an interview</a> in May 2019. In 2022, the animal spirits will be lower i.e. the emotional trigger for investments will be contained and therefore the valuations may be cheaper. “Valuation will become a bit more in favour of investors and that is the trend which we will see (next year),” said Saraf. If the IPOs are priced cheaper, it is likely that the headroom for profit is higher for investors, particularly for those who invest for the longer term. While this is general wisdom, it may so happen that the excitement may be lesser for some companies and higher for others. “Consumer tech and BFSI will lead the overall IPOs in terms of sector concentration in 2022,” said Saraf. Here’s a list of IPOs expected to open in 2022 <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Description </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">AGS Transact </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Payment solution providers </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Wilmar </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fast moving consumer goods </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Prudent Corporate Advisory </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail wealth management firm </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Emcure Pharmaceuticals </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Manufacture of pharma products in areas -- gynaecology, cardiology, blood- related, oncology, respiratory, CNS &amp; HIV </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shri Bajrang Power &amp; Ispat </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Integrated steel manufacturer </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sahajanand Medical Technologies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Medical devices company </td></tr></tbody></table>Does lesser excitement for IPOs mean that loss-making startups have no hope in 2022? Saraf doesn’t think so. “I think Indian investors, given how the year 2021 was, they are willing to put money into companies who are still not breaking even or whose profitability may be few years away...and this trend will continue,” said Saraf. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/list-of-upcoming-ipo-in-year-2022-in-india-ags-transact-adani-wilmar-prudent-corporate-advisory/slidelist/88492728.cms">LIC, AGS Transact, Adani Wilmar and other IPOs coming up in early 2022</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/mobikwik-founder-says-they-are-not-selling-any-shares-in-the-ipo/articleshow/88392998.cms">Mobikwik founder says they are not selling any shares in the IPO</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/snapdeal-ipo-paper-reveals-that-it-is-going-offline/articleshow/88408081.cms">Snapdeal IPO papers reveal the e-tailer’s offline aspirations for budget fashion</a>

The IPO excitement may be softer in 2022 but that can be a good thing for investors

<ul><li><keyword id="143842" type="COMPANY" weightage="20" keywordseo="Mobikwik">Mobikwik</keyword>, a digital payments company, has said that its payment gateway business has turned profitable. </li><li>With an IPO in mind, the company is now aiming for a ₹1.4 lakh crore annual payment volume from the payment gateway business.</li><li>Earlier in July, Mobikwik had reported a funding of ₹8.67 crores. </li></ul>Mobikwik, one of India’s leading digital payments companies, has claimed that its payment gateways vertical had turned profitable since April 2019. “Our focus on building the best tech stack for our merchants is evident in the growth and success of our Payment Gateway business. Our product and user experience (UX) philosophy is to keep the user experience simple and ultra fast. Payment Gateway is one of our fastest growing verticals and will play an instrumental role in our path to profitability,” said Upasana Taku, Co-Founder, MobiKwik. With this, the payments company now aims to ₹1.4 lakh crore annual payment volume for its payment gateway business. As a payment gateway, Mobikwik finds clients in businesses like Uber, IRCTC, Dream11, Bajaj Finance, Zomato, Grofers, Blue Dart, Delhivery, Dominos, Maruti Suzuki, Hyundai, etc. “Over 94 million unique cards are saved on MobiKwik PG platform; this includes 20 million credit cards which is 50% of all credit cards issued in India,” said the company’s official statement. In July, the company had also announced a new round of funding of ₹8.67 crore from Trifecta Capital and NDTV. Its previous investors include Sequoia Capital and American Express among others. According to <a href="https://economictimes.indiatimes.com/markets/ipos/fpos/ahead-of-ipo-mobikwik-scouts-for-investor-eyes-profit-from-fy21/articleshow/69810493.cms?from=mdr">reports</a>, Mobikwik is also planning to head for an IPO in the next three years. "We are looking for an investor who will help the company go for an initial public offering (IPO) in three years," co-founder and chief executive Bipin Preet Singh told <a href="https://economictimes.indiatimes.com/markets/ipos/fpos/ahead-of-ipo-mobikwik-scouts-for-investor-eyes-profit-from-fy21/articleshow/69810493.cms?from=mdr">ET.</a> Mobikwik finds competition from the likes of Paytm, PayU and Razorpay in the payment gateway business. Paytm claims to hold over 50% of the market share and has said that it does 400 million transactions per month; is five times more than its next competitor. A report by Credit Suisse Group AG says that the Indian digital payments market will increase five-fold from the current $200 billion to $1 trillion by the year 2023. This has also resulted in many international players eyeing the Indian market like <a href="https://www.businessinsider.in/google-wallet-creator-osama-bediers-startup-poynt-will-launch-in-india-in-2019/articleshow/68145220.cms">Osama Bedier's Poynt.</a> Bedier is also credited to be the creator of the Google Wallet. In June 2019, Mobikwik had also partnered with DT One, a global B2B network for mobile recharge, giving its users the opportunity to recharge their phones in 150 countries. MobiKwik’s competitor in India, Paytm had already entered two international markets – Canada and Japan.

Heading for an IPO, Mobikwik reports a profit in its payment gateway business

<ul><li>As digital payments industry booms, the RBI is going to set up a central payments fraud information registry. </li><li>The detailed framework for the registry will be set up by October 2019. </li><li>The Indian digital payments industry has seen a boom over the years and is set to be a $6 billion industry by 2020.</li></ul>The Reserve Bank of India has said it will set up central payments fraud information registry to monitor risks in the rising digital payments segment. “At present, there is a mechanism in place for banks to report all banking frauds to the Central Fraud Monitoring Cell of the Reserve Bank. With the digital payment ecosystem making substantial progress in terms of growth of payment infrastructure as well as volume and value of digital payment transactions, fraud risk monitoring and management by the stakeholders have assumed importance,” said the statement from the RBI. The Indian digital payments is all set to swell to $6 billion by 2020, according to Nasscom. Fintech startups like <keyword id="6357120" type="DEFINITION" weightage="20" keywordseo="paytm">Paytm</keyword>, <keyword id="143842" type="COMPANY" weightage="20" keywordseo="Mobikwik">Mobikwik</keyword>, Razorpay are increasing their user base. Added to that, global giants like Amazon, Google and WhatsApp too are entering the space, making RBI’s move extremely timely. To improve consumer confidence, RBI is moving to introduce a body that will track frauds. “Payment system participants will be provided access to this registry for near-real time fraud monitoring. The aggregated fraud data will be published to educate customers on emerging risks,” said the statement from RBI. The central bank will put a detailed framework in place by October 2019. See Also: <a href="https://www.businessinsider.in/rbi-cut-interest-rates-by-35-basis-points-as-growth-sputters-and-inflation-cools/articleshow/70565859.cms">RBI cut interest rates by 35 basis points as growth sputters and inflation cools</a> <a href="https://www.businessinsider.in/sensex-and-nifty-react-little-to-rbi-decision-to-cut-interest-rate/articleshow/70566279.cms">Here's why Indian markets aren't excited by the RBI move to cut interest rates</a>

India will soon have an online fraud registry with real-time data

<ul><li>Mobikwik aims to turn profitable by 2020-21. </li><li>It has a wide client list with IRCTC, Uber, Blue Dart and Hyundai. </li><li>Mobikwik’s revenues in FY 2019 was 3.5 times higher than those in previous year, at ₹18.4 billion. </li></ul> Indian payments startup Mobikwik has ambitious plans for growth, and yet want to chart its path with profitability in sight. In July this year, its payment gateway business turned profitable but that is not their endgame. Mobikwik which has an enviable client list like IRCTC; and multinationals like Uber, Blue Dart and Hyundai. It also managed to attract startups like Zomato, Grofers, Dream 11 for its payments business. “We will double down on our fintech scaleup in 2020 to make 2020-21 our first full year of profitable growth. Once we hit this landmark milestone, we will march forward towards an IPO in 2023-24. We will aspire to become the first Indian fintech and first Indian payments - company to get listed in India,” the company said in response to queries by Business Insider India. Mobikwik’s revenues in FY 2019 was 3.5 times higher than those in previous year, at ₹18.4 billion. It chased credit growth and disbursed 350,000 fully digital loans, and its loan book now stands at $24 million. Alongside this rapid growth, it is hoping that its revenues will swell to ₹4.8 billion by the end of the current financial year. It hopes to achieve a pretax profit break-even by the end of 2019. In July, the company raised as much as ₹8.67 crore from Trifecta Capital and NDTV. Its previous investors include Sequoia Capital and American Express among others. “Over 94 million unique cards are saved on MobiKwik PG platform; this includes 20 million credit cards which is 50% of all credit cards issued in India,” the company said. It has a network of over 3 million direct merchants and over 107 million users.

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