Fintech firm Mobikwik is expecting to close the current financial year with 100 per cent revenue growth, according to reports.
Mobikwik chairperson and chief operating officer Upasana Taku stated that the company will not like to hit the market when it is behaving erratically but wait for the market condition to stabilise.
The company, which posted a narrowing of loss to Rs 111.3 crore and revenue of Rs 302.25 crore in the financial year 2021, expects to double the revenue by the end of current financial year.
Upasana Taku stated that it has been doubling revenue every year since the last 4 years and has been controlling losses.
The company in its draft document for IPO mentioned that it was hit by the Covid-19 pandemic and the BNPL (Buy Now Pay Later) segment gross merchandise value decreased by 38.22 per cent to Rs 299.94 crore in 2020-21.
The company plans to raise Rs 1,500 crore from the IPO.
Upasana Taku added that the company has permission to hit the market till November 2022 and it will go for listing once the market conditions become stable.
(With inputs from PTI)
