Mobikwik Unlisted Share

Timeline of Mobikwik Unlisted Share

2008 : Mobikwik was incorporated

2009 : Mobikwik Started payment wallet operations

2010 : Incorporation of Zaak epayments services for payment gateway

2015 : Launched MobiKwik wallet as a payment option for organized and un-organized retail stores

2019 : Launched BNPL and received authorisation to operate as Bharat Bill Payment Operating Unit

2020 : Launched MobiKwik Blue American Express Card in partnership with American Express

2022 : Mobikwik entered into partnership with VISA to launch a prepaid card

Key Stats at a glance

Management

Bipin Preet Singh - Founder & CEO

·  BTech from IIT Delhi

·  Ex-Intel, Ex-Nvidia, Ex-Freescale Semiconductors

Upasana Taku – Co-founder & COO

·  BTech from NIT Jalandhar & MSc from Stanford University

·  Ex-HSBC, Ex-PayPal

Mobikwik total addressable market

MobiKwik primarily caters to diverse set of middle-income consumers which is categorized into three subsegments. Beyond this, MobiKwik extends its reach to an additional 200 million customers who have the potential to become relevant and bankable customers. This multifaceted approach positions MobiKwik as a comprehensive financial services provider, offering tailored solutions to diverse segments of the Indian adult population.

Product Portfolio

Mobikwik provides access to various payment use cases as well as financial products in the Digital Credit, investments, and insurance verticals.

Payment Services Products:

·Recharge and bill payments

·Payments at online e-commerce merchant, organised retail and fuel pumps

·Transferring money to any other phone number, contact, UPI ID or bank account

Digital Credit products:

·MobiKwik ZIP: Pay-later product with a 30-day interest free credit line

·ZIP EMI: Personal loan that is required to be repaid in instalments.

Investment Products:

·Lens: Personal financial management

·Xtra: Alternative Investment product

·Distribution of Mutual funds and Digital Gold

Other Services:

·Online checkout for e-commerce merchant

·Scan and pay with Kwik QRs

·MobiKwik Vibe (Soundbox)

·MobiKwik EDC Machine

·Merchant Cash Advance

Funding details of Mobikwik Unlisted Share

MobiKwik has raised a total funding of $269M over 22 rounds.

Financial Insights

                                                    (All figures in crores)

Total Income increased by 3% primarily due to an increase in revenue from operations from financial services in Fiscal 2023, which was partially offset by a decrease in revenue from operations from payment services. EBITDA margins and PAT margins also improved significantly.

Revenue Split

     (All Figures in crores)

·  Mobikwik experienced overall growth in total income, driven by a significant increase in revenue from financial services.

·  Mobikwik witnessed a growth of 191% in financial services due to increased focus on distribution of financial services (primarily through MobiKwik ZIP and ZIP EMI products)

·  The decline in revenue from payment services was primarily on account of modes of payments skewing towards lower payment processing cost modes, as well as the suspension of their payment gateway business in FY-23.

·  Other income also saw a substantial increase due to higher interest income from bank deposits.

Key Performance Indicators

Growth in user base

Payment Services Business

Mobikwik had 139.89 million registered users on the platform, as of FY-23 which grew to 146.94 million registered Users as of September 30, 2023.

BNPL Split

Among digital BNPL disbursals, MobiKwik was one of the largest players in the market for FY-23. MobiKwik disbursed ₹4,102 crores worth of BNPL loans in Fiscal FY-23 and has around 9-10% of market share in overall digital BNPL space.

Peer Comparison

                                                                                                        (All figures in crores)

Share Price Journey of Mobikwik Unlisted Share

Following the company's IPO filing in July 2021, MobiKwik shares were first offered on the unlisted market at a price of ₹875 per share. Post that the share price made a high of ₹1320 in October 2021. The market's ambivalent feelings towards new-age enterprises caused Mobikwik to abandon its IPO ambitions. As a result, the stock price of the company has corrected by over 80%, reaching a low of ₹299 in January 2023. Mobikwik filed for an IPO once again in January 2024, and the share price increased to ₹675 in that month alone.

Mobikwik Unlisted Share IPO Plans

In July 2021, Mobikwik filed for a Rs 1,900-crore IPO but the plans were shelved following mixed market sentiments for new-age companies back then. After scrapping its IPO plan in July 2021, MobiKwik has again filed papers for an initial share sale to raise up to ₹700 crore in January, 2024. The issue size is reduced by 63% from earlier in the current prospectus to Rs 700 crore and no existing investors will sell their shares under the latest IPO plans.

Annual Report 2021-22

Annual Report 2020-21

Standalone Annual Report 2022-23

Consolidate Annual Report 2022-23