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Mobikwik converts into public entity
July 13, 2021
MobiKwik is equipping to open up to the world in the coming months and liable to record its Draft Red Herring plan or DRHP not long from now. Moving toward that path, its board has passed a unique goal to support the conversion of MobiKwik’s holding entity to a public entity from a private limited firm.
The recently shaped entity is called One Mobikwik Systems Limited.
Further, MobiKwik has passed another uncommon goal to issue bonus shares to its current equity investors in the proportion of 3:1, regulatory filings show. This basically implies that the organization is assigning 3 value shares for one equity share held.
Mobikwik has given and allocated 156,17,940 value offers to its 67 value investors and its co-founders Bipin Preet Singh and Upasana Taku are the biggest benefeciaries of this reward issue as they have been assigned 87,30,930 and 61,80,900 completely paid value shares individually.
The bonus shares gave to the co-founders constitutes 95.47% of the total bonus issue.
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