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Org Chart: The People With Power At IPO-Bound MobiKwik
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Ahead Of IPO MobiKwik Converts Into A Public Entity
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Indian fintech firm MobiKwik hires advisers to set ball rolling on IPO
Currently almost 30,000 tickets are booked daily through the IRCTC android app. Photo: Indranil Bhoumik/Mint
February 23, 2021
In line with its plans to go public in 2022, fintech firm MobiKwik has appointed investment banks ICICI Securities and IIFL, besides a few law firms, to kickstart the work on the draft red herring prospectus, two people in the know said, seeking anonymity.
MobiKwik is also in talks with a few more investment banks to bring them on board to manage the initial public offering (IPO), said one of the two people cited above. “They will go for a domestic IPO.”
Inactive Mobikwik users face maintenance charge
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Inactive Mobikwik users face maintenance charge
Digbijay Mishra / TNN / Feb 23, 2021, 10:25 IST
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(Representative image)
BENGALURU: E-wallet Mobikwik is going to charge consumers anywhere between Rs 100 and Rs 140 as “wallet maintenance charge” from inactive users, a first in the Indian market.
The levy will kick in if users don’t reactivate the wallet after a seven-day notice period. The new policy was rolled out on Sunday evening and stands effective immediately.
While this update has already triggered some criticism among users, Mobikwik executives said it will refund the money if a user reactivates the wallet even after the maintenance fee has been debited and does a transaction.
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