Mobikwik is not heading for its IPO in this quarter

Indian payment service provider Mobikwik will not seek an initial public offering (IPO) in this quarter due to volatile market conditions around the world. The co-founder of Mobikwik, Upasana Taku has said that the market is fairly unstable and not just in India but also globally. She further said that this situation is likely to extend due to the Ukraine-Russia war cry. She pointed out that it will not be possible for any tech company to hold its IPO in the next couple of months. 

Mobikwik received an IPO approval from the Securities and Exchange Board of India (SEBI)  in November 2021. The company had previously emphasized that it was ready to publish with a stronger treasury but will publish it when conditions are met. The company plans to raise Rs 1,900 crore with this IPO.

In addition to Mobikwik, other Indian tech companies such as hospitality giant OYO, logistics giant Delhivery, and e-commerce giant Snapdeal are planning to launch their IPO this year. However, these companies have not yet received an IPO SEBI approval.