The digital wallet developer’s $255m IPO would allow Cisco, GMO, American Express, Bajaj Finance, MediaTek, Net1 and New Delhi Television to exit.

MobiKwik, an India-based online payments service that counts several corporates among its investors, filed yesterday for a Rs 19bn ($255m) initial public offering on the Securities and Exchange Board of India.

The offering will involve the company issuing approximately $201m of new shares while its existing shareholders will sell up to $54m.

Founded in 2009, MobiKwik provides an e-wallet that enables users to conduct online and offline peer-to-peer and consumer-to-business transactions. It covers payments in areas including utility bills,…

Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.