Sequoia-Backed MobiKwik Said to Pick Banks for $84 Million IPO

One Mobikwik Systems Ltd. has selected banks for its initial public offering in Mumbai that could raise about $84 million, according to people familiar with the matter.

The Gurugram-based fintech firm is working with DAM Capital Advisors Ltd. and SBI Capital Markets Ltd. for preparations of its listing, the people said, asking not to be identified as the information is private. The company is aiming to file an initial prospectus as soon as next month and a share sale could happen in 2024, they said.

Deliberations are ongoing and details including fundraising size and timeline could still change, the people ...