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<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.

Mobikwik aims to become the first payments startup to list on Indian bourses

Digital payment company <keyword id="143842" type="UNKNOWN" weightage="20" keywordseo="Mobikwik">MobiKwik</keyword> today said its customers will be able to pay <keyword id="89728" type="UNKNOWN" weightage="20" keywordseo="Toll-tax">toll tax</keyword> at 391 toll plazas using the mobile wallet. 
 After receiving the approval from National Highways Authority of India (<keyword id="49448" type="ORGANIZATION" weightage="20" keywordseo="nhai">NHAI</keyword>), Mobikwik's wallet service will soon be live at 391 toll plazas in India, it said in a statement. 
 
The company has received an approval from NHAI to enable commuters across all toll plazas in the country pay cashless through its mobile wallet to avoid traffic congestion due to cash crunch, it added. 
 
"Commuters across the country can soon pay cashless at all toll plazas using their MobiKwik wallet. We have taken this step in the wake of demonetisation to avoid congestion at highways, owing to the ill effects of cash crunch," MobiKwik co-founder Bipin Preet Singh said. 
 
Post scrapping of old Rs 500 and Rs 1,000 notes on November 8, NHAI has announced no charge at all toll plazas till December 2, 2016. 
 
However, the scarcity of physical cash is expected to impact the smooth traffic at tolls after this date, given that masses are still struggling to get cash. 
 
To solve this issue, MobiKwik has been roped in to digitise toll plazas in India, the company said. 
 
At the toll plazas, users will have to open the MobiKwik app on their phone and scan the QR code on the toll plaza. After entering the amount communicated by the toll operator and the vehicle number, they can press 'pay' to complete the transaction. 
 MobiKwik has about 40 million users and is accepted at 2.5 lakh merchants, including IRCTC, <keyword id="6357823" type="COMPANY" weightage="20" keywordseo="Big-Bazaar">Big Bazaar</keyword>, OYO Rooms, Zomato, Grofers and Big Basket. 
 Founded in 2009, its investors include <keyword id="270604" type="ENTERTAINMENT" weightage="20" keywordseo="Sequoia">Sequoia</keyword> Capital, American Express, Tree Line Asia, MediaTek, Net1, GMO Payment Gateway and Cisco Investments.

You will soon be able to pay toll tax using Mobikwik Wallet

<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><keyword id="70669" type="ORGANIZATION" weightage="20" keywordseo="Indian-Railway-Catering-and-Tourism-Corporation">Indian Railway Catering and Tourism Corporation</keyword> (<keyword id="65866" type="COMPANY" weightage="20" keywordseo="IRCTC">IRCTC</keyword>) shares have zoomed 216% since its listing in October 2019.</li><li>Analysts expect the stock to gain more in the months ahead as people travel more, with more vaccinations and fewer infections.</li><li>Its recent tie-ups with tech platforms and new bottling plants are expected to boost revenue growth</li><li>Check out the latest news and updates on Business Insider.</li></ul>Indian Railway Catering and Tourism Corporation (IRCTC) shares have zoomed 216% since its listing in October 2019. Now, the ₹40,000 crore ($5.7 billion) company, which has a monopoly in ticket bookings and catering for the Indian Railways, plans to split the stock. A stock split is the process of reducing the price, in turn, giving the existing shareholders more shares in the company. If you have 1,000 shares worth ₹100 each, and the stock split is 10:1, you will have 10,000 shares worth ₹10 each. It makes it more affordable for small investors to buy and sell shares. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></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;">Period </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;">Gains in IRCTC share price </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;">1 week </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% </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;">1 month </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;">21% </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;">This year so far </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;">73% </td></tr></tbody><tbody></tbody></table> The next question would be what led to the outperformance and rapid uptick in the stock? Investors expect that the economy will open up, people will travel more, as the vaccinations pick up pace and the pandemic peters out. The recovery is already visible in its earnings of the last four quarters. In its report in July 2021, broking firm Anand Rathi said the shares could worth ₹2,850 apiece in the next one year. <div type="image" title="IRCTC chart" height="900" width="1200" msid="84967721" hostid="261"></div> IRCTC is a central public sector enterprise operating in 4 segments, namely internet ticketing, catering, packaged drinking water and travel &amp; tourism. Aside from being the preferred portal for booking tickets, its subsidiary Rail Neer already accounts for nearly one in every two bottles of water sold in any railway station in India. It plans to commission four new bottling plants this year and that would mean more supply to meet the demand as it revives. Recently, in e-catering, the company has partnered with private tech platforms like travel portal Ixigo and payments startup MobiKwik to name a few. “Going forward, management expects to reach the pre COVID level very soon after the resumption of Tejas Express, increase in convenience revenue to 25%, capacity expansion of Rail Neer and the impact of price hike announced in catering will play out by then,” the Anand Rathi report said. SEE ALSO: <a href="https://www.businessinsider.in/business/news/exclusive-indias-largest-zinc-miner-is-eyeing-a-share-of-the-bangladesh-economic-boom/articleshow/84963388.cms">India's largest zinc miner Hindustan Zinc is eyeing a share of the Bangladesh economic boom </a> <a href="https://www.businessinsider.in/stock-market/news/zomato-indigo-paints-bectors-food-ujjivan-small-finance-bank-and-other-hot-stocks-that-have-lost-steam-since-listing/articleshow/84964352.cms">Zomato, Indigo paints, bectors food, Ujjivan small finance bank and another hot stocks that have lost steam since listing</a>

₹10,000 invested in IRCTC shares on listing is worth more than ₹38,000 today ⁠— the record could get even better

<ul><li>Policybazaar, Sigachi Industries and SJS Enterprises are all set to open their IPOs next week.</li><li>All three IPOs will open on November 1 and close on November 3.</li><li>Overall, the three companies are looking to raise about ₹6,634 crore in three days of bidding process.</li></ul>Initial public offerings (IPOs) season is back with a bang as three companies are set to open their bidding process for public listing. Policybazaar, Sigachi Industries and SJS Enterprises are looking to altogether raise ₹6,634 crore in the first week of November. All three IPOs will open on November 1 and close on November 3. At the same time, the beauty and fashion ecommerce company Nykaa worth ₹5,352 crore issue size is opening its <keyword id="6354763" type="General" weightage="20" keywordseo="ipo" source="Orion">IPO</keyword> tomorrow, October 28, which will close on November 3. Meanwhile, investors are awaiting announcement on IPO dates of fintech players Paytm, MobiKwik and edible oil maker Adani Wilmar, which may also open in November. PolicyBazaar PB Fintech, the parent company of online fintech marketplaces PolicyBazaar and PaisaBazaar, is coming with an IPO next week. The issue size of the IPO is ₹5,709 crore consisting of a fresh issue of ₹3,759 crore and an offer for sale of ₹1,959 crore by its existing shareholders PB Fintech has built two of the largest platforms for insurance and lending products through PolicyBazaar and PaisaBazaar. PolicyBazaar is one among a slew of tech IPOs to hit the Indian exchanges this year. It is also one of the country’s top fintech startups ⁠— the other one being Paytm ⁠— going for a public issue soon. 95% of PolicyBazaar’s revenue comes from commissions from insurance companies on selling policies. Sigachi Industries The Hyderabad-based manufacturer of cellulose-based excipients, Sigachi Industries, is looking to raise ₹125.43 crore by selling 76.95 lakh shares. The company is engaged in the manufacturing of microcrystalline cellulose, the polymer that is widely used for finished dosages in the pharmaceutical industry. It operates through three manufacturing units in Hyderabad and Jhagadia, Dahej located in Gujarat. The proceeds from the issue will be used for expansion of production facilities of MCC at Dahej and Jhagadia in Gujarat. SJS Enterprises SJS Enterprises, one of the leading players in the Indian decorative aesthetics products industry, will also open its IPO alongside PolicyBazaar and Sigachi Industries on November 1. The IPO consists of a pure offer for sale of ₹710 crore by Evergraph Holdings Pte and ₹90 crore by KA Joseph. Currently, Evergraph Holdings and KA Joseph hold 77.86% and 20.74% stake in the company, respectively. It also manufactures a wide range of aesthetics products that cater to the requirements of the commercial vehicles, medical devices, farm equipment and sanitary ware industries. The company's manufacturing facilities are located in Bengaluru and Pune. IPO details of all three companies are the same: <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Issue details </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;"> </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO open date </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">November 1 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO close date </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">November 3 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Allotment date </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">November 10 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Initiation of refunds </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">November 11 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Credit of shares to demat account </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">November 12 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO listing date </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">November 15 </td></tr></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/hot-stocks-like-irctc-indiamart-infoedge-corrected-up-to-10-from-their-recent-peaks/slidelist/87306665.cms">Hot stocks like IRCTC, IndiaMART, Infoedge corrected up to 10% from their recent peaks</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/nykaa-ipo-stock-brokers-recommend-to-invest/articleshow/87303946.cms">Looking to invest in Nykaa’s IPO? Here’s what analysts are saying</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/how-you-can-pre-apply-to-upcoming-ipos-of-nykaa-policybazaar-paytm/articleshow/87302366.cms">Here’s how you can pre-apply to upcoming IPOs of Nykaa, PolicyBazaar and Paytm</a>

You Searched For "mobikwik irctc" and got 5 results

Mobikwik aims to become the first payments startup to list on Indian bourses

Sanchita Dash

You will soon be able to pay toll tax using Mobikwik Wallet

BI India Bureau

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

Sanchita Dash

₹10,000 invested in IRCTC shares on listing is worth more than ₹38,000 today ⁠— the record could get even better

Bhakti Makwana

IPOs worth around ₹7,000 crore to open in November first week

Bhakti Makwana

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