IPO-bound MobiKwik turns unicorn as employees exercise ESOP option

In July, Mobikwik, backed by Sequoia Capital and Bajaj Finance, filed for an IPO of up to Rs 1,900 crore with the markets regulator the Securities and Exchange Board of India.

Notably, MobiKwik’s IPO filing had come days ahead of its larger rival Paytm whose IPO size stands at Rs 16,600 crore.

MobiKwik is the latest startup to turn unicorn this year taking the total unicorn tally to 32 compared to just 11 in the whole of last year.

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