Gurugram-based digital payments company MobiKwik is planning to raise Rs. 225 Crore from Bajaj Finance Ltd.
Bajaj Finance has entered into a Subscription Agreement with One MobiKwik Systems Private Limited for the acquisition of 10 Equity shares and 271,050 compulsory convertible preference shares (CCPS). The Company has also entered into a Shareholders Agreement which would become effective on the conclusion of the above investment transaction.
Post conversion of CCPS, Bajaj Finance would hold approximately 10.83% of equity in MobiKwik on a fully diluted basis.
The conclusion of the transaction is subject to fulfillment of certain conditions in due course.
MobiKwik is India’s largest independent mobile payments network connecting 40+ million users with 2,50,000+ retailers. MobiKwik wallet also offers instant transfer of money to your friends & family with ease.
On MobiKwik, users do 25+ payments per second whereas 100+ new users sign-ups per minute. You can use the wallet at top merchants like Big Basket, Book My Show, eBay, Myntra, Grofers, IRCTC, Domino’s Pizza, Shop Clues, OYO Rooms, Lime Tray, Yatra, Via.com, PVR, Zomato, Faasos, Purplle, FirstCry, Hungama, Big Bazaar, Abhi Bus, Groupon, Jabong, Mera Events, Rummy Circle, Ticket New, Fashion & You and more. Using the MobiKwik wallet at various online and offline stores because of its ease and amazing cashbacks/ offers, will make you stop using cash and stick to wallet payments.
Mobikwik is India’s No. 1 Online Recharge site for Airtel, Vodafone, Idea, Tata Indicom, Reliance, Bsnl, Aircel, Tata Docomo. Mobikwik does not charge you over any online mobile recharges done and you can save your time, effort and money. Browse for the cheapest talk time & data plans using Mobikwik.com.
