/
•
•
Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
Two large investors have pulled their commitment on investing in MobiKwik’s public issue, putting a spanner in the company’s listing plans.
Two investors who’d committed to investing in MobiKwik’s public issue have pulled out, according to two people directly aware of the development. The two investors are Eastspring Investments and Nomura. This is bad news for the digital payments company and puts a spanner in its long-in-the-works IPO plans.
While we could not independently verify why the investors pulled out, one of the two people cited above said that investors aren’t hot on the company’s ability to compete and grow in the crowded fintech space. Plus, the fairly expensive valuation.
“The valuation has already dropped to $950 million post from $1.2 …
A local fintech deal to consolidate operations, feedback on Saudi Arabia’s proposed IPO rules, and Ras Al Khaimah’s casino economy.
The kingdom is moving to tighten the rules around public listings, algorithmic trading, trading in foreign securities and company disclosures—all in an effort to chase transparency.
The newly announced levy on UPI payments undermines the very foundation of using digital payments for stock market investing. Brokers are in a tizzy.
