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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 posted losses to the tune of ₹83.81 crore for the FY23.</li><li>It’s a completely fresh issue with no offer for sale component.</li><li>The issue proceeds will be used to fund growth, tech, capex and general corporate purposes. </li></ul>Fintech One <keyword id="20054770" type="General" weightage="20" keywordseo="mobikwik" source="keywords">Mobikwik</keyword> Systems has filed a Draft Red Herring Prospectus (DRHP) with SEBI to raise ₹700 crore for its initial public offering (<keyword id="19898327" type="General" weightage="20" keywordseo="ipo" source="keywords">IPO</keyword>). For the fiscal 2022–23, the company’s revenue from operations has increased to ₹539.47 crore against ₹526.56 crore for fiscal 2021–22. Loss for the year decreased by 34.6% from ₹128.16 crore in fiscal 2022 to ₹83.81 crore in fiscal 2023. For the six months ended September 30, 2023, revenue from operations stood at ₹381.09 crore and profit after tax stood at ₹9.48 crore. The IPO has a face value of ₹2 is entirely a fresh issue of equity shares with no offer for sale component. The company, in consultation with the book-running lead managers, may consider a further issue of specified securities including private placement, preferential allotment, rights issue, or any other method aggregating to ₹140 crore as ‘Pre-IPO placement’. If such placement is completed, the fresh issue size will be reduced. Fresh issue to fund growth The proceeds from the fresh issue, to the extent of ₹250 crore will be used for funding growth in the financial services business, ₹135 crore for funding growth in the payment services business, ₹135 crore for investment in data, ML and AI and product and technology, ₹70.28 crore for capital expenditure for the payment devices business, and general corporate purposes. The issue is being made through the book-building process, wherein not less than 75% of the issue shall be available for allocation on a proportionate basis to qualified institutional buyers, not more than 15% of the issue shall be available for allocation to non-institutional investors, and not more than 10% of the issue shall be available for allocation to retail individual bidders. Established by Bipin Preet Singh and Upasana Taku, the fintech caters to businesses and merchants. It has extensive payments and financial services like online checkout, Kwik QR scan and pay, MobiKwik Vibe (Soundbox), MobiKwik <keyword id="20076789" type="General" weightage="20" keywordseo="edc-machine" source="keywords">EDC Machine</keyword>, and Merchant Cash Advance. Its subsidiary <keyword id="20076790" type="General" weightage="20" keywordseo="zaakpay" source="keywords">Zaakpay</keyword> operates a B2B payment gateway for e-commerce businesses and has received RBI approval for its Payment Aggregator (PA) business. MobiKwik provides consumers access to various payment options and financial products in digital credit, investments, and insurance has acquired approximately 18.29 million new users every year, between Fiscal 2021 and September 30, 2023. As of September 30, 2023, the company has amassed 146.94 million registered users and enabled 3.81 million merchants to conduct online and offline payments. Its Payment GMV has grown annually by 32.33%, while MobiKwik ZIP GMV (Disbursements) surged by 354.86% from Fiscal 2021 to Fiscal 2023. As per RedSeer, the company's commitment to growth through cost-effective, technology-driven innovations is evident in its array of scaled products and its ability to maintain one of the lowest employee cost-to-revenue ratios among digital financial service platforms in Fiscal 2023. SBI Capital Markets and DAM Capital Advisors are the book-running lead managers for the IPO, and Link Intime India Private is the registrar of the offer. The equity shares are proposed to be listed on the BSE and NSE.

Mobikwik replans market debut with plans of raising ₹700 crore

<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 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> has elevated its Senior Vice President of <keyword id="6359540" type="PERSON" weightage="20" keywordseo="payments">Payments</keyword> Chandan Joshi to be the third co-founder.</li><li>Joshi’s elevation to co-founder aims at improving the financial performance of the startup and getting the company in shape for an Initial Public Offering (<keyword id="6354763" type="UNKNOWN" weightage="20" keywordseo="ipo">IPO</keyword>) in 2022.</li><li>As the lockdown began in March, the startup said it recorded huge numbers with net revenue of ₹38 crore for the month. </li></ul>Indian digital payments platform Mobikwik has elevated its Senior Vice President of Payments Chandan Joshi to be the third co-founder. With this, Joshi joins the original founding team of Upasana Taku and Bipin Preet Singh. Joshi, who joined Mobikwik right after demonetisation, has earlier worked as a financial trader in global markets with Credit Suisse in London &amp; Hong Kong. Interestingly, Joshi’s elevation to co-founder is aimed at improving the financial performance of the startup and getting the company in shape for an Initial Public Offering (IPO) in 2022. While the company continues to remain in the red, its finances have significantly improved as it prepares for an eventual listing. Mobikwik: Financial snapshot <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></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;">Year </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;">Revenue </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;">EBITDA loss </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;">FY20 </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;">₹ 379 crore </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;">₹8.5 crore </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;">FY19 </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;">₹162 crore </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;">₹98 crore </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;">FY18 </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;">₹86 crore </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;">₹199 crore </td></tr></tbody></table> As the lockdown began in March, the startup said it recorded huge numbers with a net revenue of ₹38 crore for the month. Currently, digital payments drives 75% of its business. Some of Mobikwik’s clients for payment gateway <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></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;">Uber </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;">IRCTC </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;">Dream11 </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;">Zomato </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;">Grofers </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;">Delhivery </td></tr></tbody></table> However, it’s not going to be an easy path. Mobikwik faces tough competition in the payments sector from leaders like Google Pay, Paytm, Razorpay, PhonePe and others. The entry of WhatsApp Pay will be another challenge for the 11-year old startup. In its recently released annual report, Mobikwik had said it has 120 million users and 3 million retailers on its platform. So far, the startup has raised over $100 million in investments from the likes of Sequoia Capital, Bajaj Finance, American Express and Net1. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/airmeet-indias-alternative-to-zoom-raises-12-million-from-sequoia/articleshow/78126391.cms">‘Had to say no to investors now,’ says the founder of Airmeet, India's alternative to Zoom, after raising $12 million from Sequoia</a> <a href="https://www.businessinsider.in/tech/apps/news/tencent-joins-alibaba-and-bytedance-in-making-singapore-its-new-headquarters-after-india-ban-and-tensions-in-the-us/articleshow/78125459.cms">Tencent joins Alibaba and Bytedance in making Singapore its new headquarters after India ban and tensions in the US</a>

Mobikwik gets a new co-founder – the startup is getting IPO ready for 2022

New Delhi, Jul 15 () Digital payments company MobiKwik on Wednesday said its net revenue has surged 134 per cent to Rs 379 crore in FY20, and exuded confidence of hitting profitability this fiscal. MobiKwik, which competes against companies like Paytm and Flipkart-owned PhonePe, had clocked a net revenue (primarily income from transactions and income share from financial products) of Rs 162 crore in FY19. "This is the third consecutive year where we have demonstrated higher than 100 per cent growth. Our cash loss has reduced 91 per cent, last year on a revenue of Rs 162 crore, we had lost in cash Rs 98 crore, versus this year's revenue of Rs 379 crore, we have lost only Rs 9 crore in cash," MobiKwik co-founder and COO Upasana Taku told . She added that the actual loss is Rs 45 crore but much of that was paid in stocks, and therefore the cash burnt was Rs 9 crore. Taku said the company is focussing on a profitable growth strategy and has executed on it in the right manner that has helped drive 159 per cent rise in consumer payments (wallet) net revenue to Rs 230 crore and a 216 per cent jump in fintech net revenue to Rs 91 crore. She explained that MobiKwik's wallets business - which has 120 million users - had recorded net revenue of Rs 89 crore in the previous fiscal. User incentives in FY20 grew only 30 per cent, indicating that cost of acquiring and retaining users was low and the company is generating higher spends per user, she added. MobiKwik's merchant-facing payment gateway business (via its subsidiary Zaakpay) registered net revenue of Rs 190 crore in FY20, compared to Rs 101 crore in FY19 on a standalone basis. MobiKwik, which has about 325 employees, operates in three segments -- consumer payments, fintech (includes credit, mutual funds, etc), and payment gateway. In FY20, consumer payments accounted for 63 per cent of the net revenue, followed by fintech (25 per cent) and payment gateway (13 per cent). "March 2020 was a stellar month for us, our lifetime best month and we clocked a revenue of Rs 38 crore but we lost only Rs 8 lakh. So, we were set on an amazing peak and had COVID not happened, we would have already done the same or higher run rate," she said. MobiKwik expects recovery across segments by early September and is confident of showing growth and hitting profits in FY21, Taku noted. Founded in 2009 by Bipin Preet Singh and Upasana Taku, MobiKwik has raised over USD 100 million in funding from investors like Sequoia Capital, Bajaj Finance, American Express and Net1. "We are the only independent, large digital payments platform in India that is neither owned nor controlled by a large foreign company...teams (founders and employees own 45 per cent stake. It is a big achievement just to compete in this hyper-competitive market against players with deep pockets," Taku said. She emphasised that MobiKwik is focussed on building out the company and delivering value to shareholders. "On the back of Rs 26 crores raised in early 2019, we have delivered Rs 203 crore in incremental net revenue in FY2020, which is a capital efficiency of 8x," Taku said. SR BAL BAL BAL

MobiKwik net revenue more than doubles to Rs 379 cr in FY20; eyes profits this fiscal

<ul class="teaser-list"><li>A report released by consultancy EY predicts Australian university revenue will decline by a further $6 billion in the years leading to 2030.</li><li>It suggests that to survive, the higher education sector will need to abandon international revenue altogether and focus on offering specialised courses to Australian students.</li><li>The pandemic had “exposed the over-reliance on on-campus learning and international students in <keyword id="6355478" type="UNKNOWN" weightage="20" keywordseo="australia">Australia</keyword>’s higher education system,” head of education at EY Catherine Friday said.</li></ul>Australia’s university sector may never return to its peak pre-2019 levels, a new study has found. New research by consultancy EY predicts the Australian university sector will have to abandon its current funding model based on Commonwealth subsidies and international student revenue, as it faces revenue losses that could decline by a further $5 billion to hit $6 billion by 2030. It also found this could force universities to shed around 50% of non-research staff, along with threatening some institutions with closure or merger. The report, <a href="https://www.ey.com/en_au/government-public-sector/the-peak-of-higher-education" target="_blank">The Peak of Higher Education</a>, is based on interviews with 32 senior figures in Australian and <keyword id="22501" type="COUNTRY" weightage="20" keywordseo="New-Zealand">New Zealand</keyword> institutions and suggests that international student enrolments will never return to 2019 levels. It also predicts that on-campus learning will play a diminishing role in most student’s education, even after the current restrictions on in-person lectures and tutorials are lifted. Catherine Friday, EY’s global head of education, said the pandemic had “exposed the over-reliance on on-campus learning and international students in Australia’s higher education system”. “There is so much financial strain in the sector right now and such uncertainty about ongoing income and revenue streams that it’s reasonable to suspect that there might be university closures or some sort of merger activity in the market,” Friday said. The EY researcher said the report’s models for a sustainable future for the sector urged universities to become more “homogenous” and offer similar courses while competing for students. This was because reduced revenue caused by the loss of international students would force institutions to cut back on courses and specialise in specific fields of learning. “For some universities it might mean they will reduce the number of broad generalist degrees that they currently offer,” Friday said. “Everyone trying to do everything is simply unaffordable.” Since the pandemic gutted higher education last year, the country’s university sector has held out hope that at least some students would return in 2021. Since December 2019, there has been a more than 5% decline in enrolments and a 23.2% decline in new students, according to government figures. But with the majority of Australia now under lockdown, including all of <keyword id="61477" type="CITY" weightage="20" keywordseo="NSW">NSW</keyword> until what could be the end of October, it is now highly unlikely international students will be able to reenter the country to study at Australian institutions. Universities Australia has estimated the sector has lost 17,000 jobs since the start of the pandemic, and <keyword id="212104" type="ORGANIZATION" weightage="20" keywordseo="Victoria-University">Victoria University</keyword> think tank <keyword id="11866273" type="UNKNOWN" weightage="20" keywordseo="mitchell-institute">Mitchell Institute</keyword> has released modelling suggesting the university sector faces cumulative losses of up to $19 billion over three years due to international border closures. Mitchell Institute education policy fellow Peter Hurley told the Sydney Morning Herald that the <keyword id="16874" type="PERSON" weightage="20" keywordseo="Morrison">Morrison</keyword> government’s recent changes to the funding formula for university places would force universities to reconsider the range of courses they offer. “There is going to be a real plateau in the amount of money that universities are receiving from government for students, so there is just less room to grow in that respect,” Hurley said. However he said it was unlikely any universities would close or merge in the forseeable future. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/with-pharmeasy-mobikwik-and-ixigo-all-set-to-hit-the-public-market-orios-plans-to-go-deeper-into-pre-ipo-bets/articleshow/85359703.cms">With PharmEasy, MobiKwik and ixigo all set to hit the public market, Orios plans to go deeper into pre-IPO bets</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/personal-finance/news/6-habits-of-successful-investors-that-will-take-you-a-long-way-in-wealth-creation/articleshow/85359445.cms">6 habits of successful investors that will take you a long way in wealth creation</a>

Australia’s university sector could lose another $6 billion in revenue over the next decade, according to a new report

<ul><li>Relentless FII selling, initiation of a war between two countries and high inflation has sucked out investors’ risk appetite leading to people selling stocks across the globe in a panic.</li><li>All this has spoiled the market’s mood and their ability to put in fresh money even for their favourite initial public offering (IPOs).</li><li>More than 10 companies in India are in line to launch their public issues anytime soon.</li></ul>The Indian equity markets are witnessing one of the biggest crashes in history as Russia declares a war on Ukraine. Indian markets, on Thursday, wiped out $177 billion of investors' money as Sensex tumbled nearly 5%. All because Russian President Vladimir Putin announced a military operation in Ukraine despite the US and western countries insisting on imposing sanctions and indicating not to invade. Initiation of a war between the two countries seems to have sucked out investors’ risk appetite leading to people selling stocks across the globe in a panic. The Russia-Ukraine crisis added to the already reeling market worrying over high inflation and expectations of aggressive interest rate hike by the US Fed, which triggered losses in Indian markets as foreign institutional investors (FII) continued to scoop out their money from here for five straight months. All this has spoiled the market’s mood and risk appetite of investors to put in fresh money even for their favourite initial public offering (IPOs). It is true that the companies are delaying their IPO launches because of the weak market environment and the wave would only return if markets get a bit better, as per Ajay Saraf, head of investment banking and institutional equities at ICICI Securities. Here are some of the IPOs expected to come out soon <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;">Expected IPO size </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;">Life Insurance Corporation (LIC) </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;">₹70,000 crore </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;">OYO Rooms </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;">₹7,000 crore + shares by promoters </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;">Droom </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;">₹2,000 crore + shares by promoters </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;">Delhivery </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;">₹5,000 crore + shares by promoters </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;">PharmEasy </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;">₹6,250 crore </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;">MobiKwik </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;">₹1,900 crore </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;">Ixigo </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;">₹1,600 crore </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;">Go Airlines </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;">₹3,600 crore </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;">Arohan Financial </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;">₹1,800 crore </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;">Penna Cement </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;">₹1,550 crore </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;">Utkarsh Small Finance Bank </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;">₹1,350 crore </td></tr></tbody></table>(Source: Angel One) Analysts believe that many IPOs are getting delayed because of following reasons -- geopolitical risk of <keyword id="9594427" type="General" weightage="20" keywordseo="russia-ukraine-war" source="Orion">Russia Ukraine war</keyword> looming, frequent selling by FIIs and weak market conditions and the upcoming mammoth IPP from LIC. Companies fear that IPOs won’t get a good response and remain undersubscribed, which may also lead to weak listing gains. “Companies that have filed for IPOs are delaying their procedures due to the upcoming massive LIC IPO. The timelines for LIC IPO have been informed well in advance and it is advised that companies avoid clashing with timings of LIC IPO, as it will create weak liquidity for other IPOs. Some managements have indicated they will be delaying their issues and waiting for the LIC IPO to get over, by not delaying there are chances that IPOs may be undersubscribed and give out weak listing gains,” said Manoj Dalmia, founder and director at Proficient Equities. So far in 2022, only three IPOs have been listed in India’s exchanges out of which two of them opened on a weak note. Further, it is noticeable that companies are in a wait-and-watch zone for market sentiment to get a bit better before they launch their IPOs. “The weak market sentiment has deferred listing of companies whose valuation may need to be reconsidered against the backdrop of sharp corrections in some recently listed stocks which were overvalued,” said Neha Khanna, director at ValPro. Vijay Chandok, managing director and chief executive at ICICI Securities believes that crude oil trajectory also will be a key factor to watch out for, going ahead. “We don’t expect major sanctions which may drive [a] big spike in crude, equally harming Europe and US, or even in terms of aggressive rate hike leading to slower economic growth. We, thus, believe that market stabilisation is likely in the short term,” said Chandok. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/what-is-the-role-of-nato-in-the-russia-ukraine-conflict/articleshow/89802216.cms">EXPLAINED: The role of NATO in the Russia-Ukraine conflict</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/investment/news/russia-ukraine-conflict-wipes-over-200-billion-from-crypto-markets-cardano-avalanche-and-polkadot-worst-hit/articleshow/89804413.cms">Russia-Ukraine conflict wipes over $200 billion from crypto markets — Cardano, Avalanche, and Polkadot worst hit</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/taiwan-seems-jittery-amidst-the-russia-ukraine-conflictheres-why/articleshow/89796361.cms">Taiwan seems jittery amidst the Russia-Ukraine conflict—Here’s why</a>

Russia’s Ukraine invasion may give India’s upcoming IPOs some cold feet

<ul><li><keyword id="830092" type="COMPANY" weightage="20" keywordseo="Zomato">Zomato</keyword> will open its IPO between July 14-16, at a price band of ₹72-76.</li><li>The company will have a cash reserve of ₹15,000 crore post issue.</li><li>However, a few analysts believe that it’s not the right call for retail investors.</li></ul>Investor or not, people across the spectrum have been keeping an eye out for Zomato’s initial public offering (IPO) for quite a while and the time has finally come. Zomato will open its IPO on Wednesday, July 14, at a price band of ₹72-76 and it is definitely something to keep a track of. This is the biggest public issue in the Indian startup ecosystem to date, well at least till the time payments firm Paytm hits the public market with its $3 billion issue. The Gurugram-based startup, which was founded in 2008 by Deepinder Goyal and Pankaj Chhadah (exited in 2018), plans to use this capital raise for organic growth, inorganic growth and general corporate purposes. The inorganic growth will include mergers and acquisitions (M&amp;A) as well as investment in tech and customer acquisition. Zomato will have a cash level of ₹15,000 crore or close to $2 billion post-issue, the company’s chief financial officer Akshant Goyal and co-founder Gaurav Gupta said in a press conference held on July 8, 2021. Stock broking firm Ventura Securities believes that this cash pile should easily help the company sustain burn-rates for a good 7-9 years. The company’s valuation may seem optically demanding at the upper price band of ₹76, Venture Securities says. However, it has recommended subscribing to the public issue due to several reasons — evolving nature of the business, duopoly market (market with only two players), immense potential to penetrate into market, humongous untapped online opportunity in other vertices such groceries, food delivery and more, and scarcity of premium to use services. However, there have been many mixed reviews from the stockbroking firms. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Analysts </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Recommendations </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Motilal Oswal </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Investor with high risk appetite can subscribe </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">ICICI Direct </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Choice Broking </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe with caution </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Ventura Securities </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Angel Broking </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Alchemy Capital Management </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe, but allocate very small amount </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Kotak Securities </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Not Rated </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Axis Securities </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Not Rated </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">JST Investments </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Not Rated </td></tr></tbody></table> Motilal Oswal says that Zomato is placed at a sweet spot as the online food delivery market is at the cusp of evolution, but predicting the growth trajectory at this juncture is a little tricky for the next few years. Valuing such early-stage businesses on a plain vanilla financial matrix might not give the right picture and may look distorted, the brokerage adds. Deven Choksey, promoter of KRChoksey Group and MD of KRChoksey Shares and Securities, tells Business Insider that this business has a particular level of being scaled up to a larger level. “They started with the food aggregator business, then they started getting into the restaurants, then into the loyalty programme [Zomato Pro], and now they are getting into the grocery business. One after another areas [sic], which they can manage, they are getting into it. This is the beauty of this particular business. Its success is largely because they keep on reinventing themselves,” he adds. Meanwhile, Hiren Ved of Alchemy Capital Management, says, “These businesses, being in their early growth stage, keep pivoting their business models often. So valuing these businesses during and immediately after the IPO is a big challenge. Ved is the cofounder, director and CEO of Alchemy Capital Management. Apprehension and risks in <keyword id="9029084" type="UNKNOWN" weightage="20" keywordseo="zomato-IPO">Zomato IPO</keyword>, according to analysts <div type="image" title="Zomato IPO opens tomorrow — and even analysts are confused" msid="84369290" hostid="261"></div> <ol><li>Zomato has a history of net losses and anticipates increased expenses in the future.</li><li>It may not be able to sustain historical growth rates going forward.</li><li>The COVID-19 pandemic, or a similar public health threat, has had an impact and could further impact the business, cash flows, and financial condition of the company.</li><li>Failing to retain existing restaurant partners, customers or delivery partners or failing to add new restaurant partners, delivery partners or customers, may have an adverse impact on the business.</li><li>It is difficult for an average investor to understand the company’s valuation in the traditional sense.</li></ol>“There would be an argument about the valuation and about the losses, but this is a new age business. It is obvious that you have to live with these kinds of arguments and you have to allow them to prosper,” Choksey notes. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/softbank-swiggy-deals-gets-cci-approval-two-days-before-zomato-ipo/articleshow/84347306.cms" data-type="tilCustomLink">SoftBank-Swiggy deal gets CCI approval, two days before Zomato IPO</a> <a href="https://www.businessinsider.in/business/startups/news/payments-firm-mobikwik-files-for-1900-crore-ipo-reportedly-to-seek-1-billion-valuation/articleshow/84347520.cms" data-type="tilCustomLink">Payments firm MobiKwik files for ₹1,900 crore IPO, reportedly to seek $1 billion valuation</a><a href="https://www.businessinsider.in/business/startups/news/softbank-swiggy-deals-gets-cci-approval-two-days-before-zomato-ipo/articleshow/84347306.cms" data-type="tilCustomLink"></a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-adds-nine-times-more-subscribers-than-airtel-in-april-2021/articleshow/84367596.cms" data-type="tilCustomLink">Reliance Jio picks up serious pace, adds nine times more subscribers than Airtel in April – Vodafone Idea continues its downward spiral</a>

Zomato IPO opens tomorrow — and even analysts are confused

<a href="http://www.businessinsider.in/searchresult.cms?query=nexus+venture+partners&amp;sortorder=effectivedate">Nexus Venture Partners</a> (NVP) has apparently given its nod for <a href="http://www.businessinsider.in/searchresult.cms?query=snapdeal&amp;sortorder=effectivedate">Snapdeal’s</a> sellout to <a href="http://www.businessinsider.in/searchresult.cms?query=flipkart&amp;sortorder=effectivedate">Flipkart</a>. Japan’s <keyword id="163404" type="COMPANY" weightage="20" keywordseo="Softbank">SoftBank</keyword>, which secured a nod from <keyword id="1500808" type="COMPANY" weightage="20" keywordseo="KALAARI">Kalaari</keyword> capital last month, got a go-ahead from NVP as well. As per various reports, the term sheet with <keyword id="6354742" type="COMPANY" weightage="100" keywordseo="Flipkart">Flipkart</keyword> could be signed soon and the due diligence for the deal would commence immediately thereafter. Sources told PTI, <keyword id="541988" type="COMPANY" weightage="100" keywordseo="SnapDeal">Snapdeal</keyword> founders would get about $25 million each, while NVP could get close to $100 million and stake in the merged/new entity. Kalaari could get about $70-80 million. <a href="http://www.businessinsider.in/searchresult.cms?query=softbank&amp;sortorder=effectivedate">SoftBank</a> yesterday said it suffered a loss of $1 billion on its investment in Snapdeal during 2016-17. SoftBank currently owns over 30% in Snapdeal, while Nexus has roughly a 10% stake and <a href="http://www.businessinsider.in/searchresult.cms?query=kalaari+capital&amp;sortorder=effectivedate">Kalaari</a> holds 8% share in the firm. The deal between Snapdeal and Flipkart, if completed, would mark the biggest acquisition in the Indian e-commerce space and change the landscape of the sector that is witnessing intense competition among players. Indian e-commerce companies have seen funding dry up over the last few months as investors are focusing extensively on profitability and rationalisation of expenses. With intense competition from deep-pocketed global rivals like <keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword>, companies like Flipkart and Snapdeal could face more heat in the coming days. There have been reports that Snapdeal's mobile wallet service Freecharge could be sold separately with players like Paytm and MobiKwik being in the fray.

Flipkart all set to buy Snapdeal

Welcome to our new Payments Insights newsletter, a morning email with the top news and analysis on the digital payments industry, produced by <a href="https://intelligence.businessinsider.com/welcome?utm_source=House&amp;utm_medium=Edit&amp;utm_term=PINSIGHTSutm_content=link&amp;utm_campaign=BIIMobile" target="_blank">BI Intelligence</a>. 
<a href="http://e.businessinsider.com/join/biipaymentsform" target="_blank">Click here to sign up for Payment Insights today, and receive it every morning in your inbox</a>.

<div class="KonaFilter image-container float_right click-to-enlarge" style="width:400px"><div class="image"><a title_source="Flickr/nateOne" title_caption="" class="zoomin" href="http://static6.businessinsider.com/image/51114c7169beddc04d000004-960/target-18.jpg"></a><a href="http://www.flickr.com/photos/nateone/3519404549/">Flickr/nateOne</a></div></div>MASSIVE FRAUD AT TARGET SPOTLIGHTS WEAKNESSES IN THE LEGACY OF PAYMENTS INDUSTRY: Yesterday Target confirmed that it had suffered a huge security breach at its stores between November 27th and December 15th (of course that span of time included Black Friday, one of the biggest offline shopping days of the year). 
The breach may have affected 40 million credit and debit cards. As Business Insider's Jim Edwards pointed out in an article yesterday, the notable fact about the work of these hackers is that they exposed credit cards used at Target stores, not at Target.com. (<a href="http://pressroom.target.com/news/target-confirms-unauthorized-access-to-payment-card-data-in-u-s-stores" target="_blank">Target</a>) 
Despite the fear that e-commerce and mobile commerce sites are most vulnerable to cyber criminals, traditional point-of-sale systems like those used at large retailers can also be hacked and are susceptible to security failures that create huge losses and frustrations for themselves, their consumers, and credit card companies.
IF IT CAN HAPPEN TO TARGET, IT CAN HAPPEN TO ANYBODY: As American Banker writes, "if Target can't protect itself from a data breach, how can any retailer hope to do so? "Target had state-of-the-art security systems and was an early adopter of EMV cards or "chip cards," which are widely used in Europe, and are more difficult to steal data from. Magnetic strip cards are a much easier target for fraudsters. "Stolen data from a magnetic-stripe card can be written to any other type of card, even a hotel room key, and used to make swiped card payments." But EMV cards face a chicken-and-egg problem. Many consumers don't have them, which in turn, is why many retailers don't adopt compatible point-of-sale systems. (<a href="http://www.americanbanker.com/issues/178_243/target-breach-sends-chills-is-any-merchant-safe-even-with-emv-1064461-1.html" target="_blank">American Banker</a>)
In other news...
Airlines are leading the way to mobile payments: Twenty-five percent of airlines now allow customers to buy tickets from mobile apps, up from 10% last year. Of the 56 global airlines surveyed, 57% said that they expected that mobile would be that technology that drove the most new revenue in the next two years. <a href="http://www.mobilecommercedaily.com/25pc-of-airlines-accept-mobile-payments-report" target="_blank">(Mobile Commerce Daily)</a>
A new report from Forrester argues that financial institutions that do not take the plunge into the world of mobile wallets are at risk of becoming irrelevant in face of new competitors like PayPal, Amazon, and Square. <a href="http://www.mobilepaymentstoday.com/article/225083/Will-non-banks-own-digital-wallets" target="_blank">(Mobile Payments Today) </a>
A majority of respondents in India, Indonesia, Philippines, Vietnam, Kenya, Nigeria, and South Africa said they felt comfortable investing in Bitcoin, according to a new survey from Jana. The survey also covered Brazil and Mexico, where less than a majority felt comfortable investing in the digital currency. <a href="http://venturebeat.com/2013/12/19/this-is-what-people-in-9-emerging-markets-think-about-bitcoin-survey/" target="_blank">(Venture Beat) </a>
PayPal has completed its $800 million acquisition of Braintree. Braintree will continue as a separate service, but merchants can expect to see PayPal features within Braintee's applications in 2014. <a href="https://www.paypal-forward.com/leadership/braintree-has-officially-joined-paypal/" target="_blank">(PayPal)</a> 
HSBC has made a deal with HKT, a Hong Kong- based telecom, to offer customers a NFC mobile wallet. HSBC has reportedly made similar deals with three other Hong Kong-based telecoms as well. <a href="http://www.pccw.com/About+PCCW/Media+Center/Press+Releases/Detail?guid=385455e68c003410VgnVCM1000006a8ba8c0____&amp;language=en_US" target="_blank">(HKT)</a>
WELCOME TO PAYMENTS INSIGHTS. This is our new newsletter covering all things payments. Don't forget to <a href="http://e.businessinsider.com/join/biipaymentsform" target="_blank">sign up</a> and get it every morning in your inbox. Please email <a href="mailto:johnh@businessinsider.com">johnh@businessinsider.com</a> or BI Intelligence director <a href="mailto:mballve@businessinsider.com" target="_blank">mballve@businessinsider.com</a> with news and tips.
"We'll seek to follow the mainstream. Bitcoins are not forbidden in the U.S. and the U.K. It is out there and will continue to be out there. It just needs to be regulated." says Michael Landberg, chief legal adviser at the Financial Supervisory Authority in Denmark. <a href="http://www.paymentssource.com/news/bitcoins-spark-regulatory-crackdown-as-denmark-drafts-rules-3016370-1.html" target="_blank">(Paymentssource)</a>
MasterCard plans to expand its online payments portal, MasterPass, into Italy in early 2014. The service allows consumers to pay for goods online with a simple log in rather than filling out billing information. MasterPass is already available in North America and much of Western Europe. <a href="http://newsroom.mastercard.com/press-releases/masterpass-digital-payment-platform-launches-in-italy/" target="_blank">(MasterCard)</a>
MobiKwik an Indian mobile wallet start-up reported a million downloads. In November of last year the company had reported 100,000 downloads. <a href="http://blog.mobikwik.com/joining-the-million-club-mobikwik-android-app/" target="_blank">(MobiKwik)</a>
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You Searched For "MobiKwik loss" and got 11 results

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

PTI

Mobikwik replans market debut with plans of raising ₹700 crore

BI India Bureau

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

Sanchita Dash

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

Bhakti Makwana

Mobikwik gets a new co-founder – the startup is getting IPO ready for 2022

Sanchita Dash

MobiKwik net revenue more than doubles to Rs 379 cr in FY20; eyes profits this fiscal

PTI

Australia’s university sector could lose another $6 billion in revenue over the next decade, according to a new report

Business Insider

Russia’s Ukraine invasion may give India’s upcoming IPOs some cold feet

Bhakti Makwana

Zomato IPO opens tomorrow — and even analysts are confused

Kritti Bhalla

Flipkart all set to buy Snapdeal

BI India Bureau

Target's Data Breach Nightmare Reveals The Vulnerability Of Traditional Point-Of-Sale Systems

John Heggestuen

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