digital payment platform MobiKwik Approval was received from the capital markets regulator, Securities and Exchange Board of India (Securities and Exchange Board of India) on Friday. Self), for its Rs 1,900 crore ($255 million) first public offer (IPO), sources told ETTech.

Sources indicated that MobiKwik is expected to launch its IPO before Diwali and is likely to fetch a valuation of $1 billion.

The Gurugram-based company joins a growing list of consumer internet firms, including Paytm, Nykaa and PolicyBazaar, that are eyeing stock market debuts this year. food delivery platform
Zomato launches IPO boom Among Indian consumer startups when it made a stellar debut in the Indian public markets.

The MobiKwik draft IPO document shows that around Rs 1,500 crore will be raised through primary share sale, while the rest will be a secondary transaction where existing investors will sell stake.

by the firm established in 2009 Bipin Preet Singh And Upasana Taku, Sequoia Capital India, Bajaj Finance, American Express, Cisco and Abu Dhabi Investment Authority as its investors.

According to DRHP, Singh and Taku plan to sell shares worth over Rs 191 crore in the secondary sale.

company that was
$700 million worth In its last funding round in April, eyeing a $1 billion valuation in its public market listing,
ET reported in July.