Promoters of MobiKwik will sell their stake for Rs 190 crore
MobiKwik last month raised $20 million from an investment authority in Abu Dhabi. In this deal, the valuation of the company was considered to be $ 700 million. MobiKwik’s total income declined by 18 per cent to Rs 302 crore in the financial year ended March 31, 2021. At the same time, the loss of the company declined by 12 percent to Rs 111 crore. Other investors in MobiKwik are Sequoia Capital India, Bajaj Finance, Amex, Tree Line and Cisco. The promoters of the company Bipin and Upasana will sell their stake worth Rs 190 crore, while Sequoia will sell stake for Rs 95 crore and Bajaj Finance for Rs 69 crore.
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Jan Small Finance Bank is giving highest interest on savings account
Jana Small Finance Bank, which pays the highest interest on savings account compared to many government, private and small finance banks, is also going to bring its IPO soon. Its interest is so high that the interest available on fixed deposits of many banks is also less than this. Under the IPO, fresh issues worth Rs 700 crore will be issued. At the same time, there is a proposal to sell 92,53,659 shares from the existing shareholders. The IPO is expected to raise Rs 1,100 crore. The bank had applied for IPO in April 2021, on which approval has been received from SEBI.