MobiKwik, one of India’s largest mobile wallets and Buy Now Pay Later (BNPL) players, is looking to get listed as soon as possible in the next year, Upasana Taku, co-founder and COO of the company, said on Monday. Taku said the company is awaiting the final audit numbers and will go public soon after that.

"Bravado in entering the market does not make sense," said Taku in an interview with CNBC-TV18. "We have to be smart before going public, especially after building a company for 12 years," she said.

Taku said the company is capital sufficient and has seen 100 percent revenue growth in the last few years with the business being close to profitability now.

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Talking about FY21 business, she said the numbers did not demonstrate the company's full potential due to COVID-19.

"Want to show a clear path to financial performance in April-December numbers," said Taku.

According to Taku, the growth opportunity in payments and 'Buy Now, Pay Later' business is immense.

"Paytm and MobiKwik are very different despite starting as wallet companies," said Taku.

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Multiple sources recently told CNBC-TV18 that the Gurugram-based fintech start-up was deferring its plans to go public by a few months amid concerns over investors’ interest and skepticism about its business model.

The company had filed its papers for a Rs 1,900 crore initial public offering (IPO) in July. This included a fresh issue of shares worth Rs 1,500 crore and an offer for sale (OFS) of shares worth Rs 400 crore. Market regulator SEBI had subsequently approved the IPO plans on October 7.

One of the sources said that Paytm’s disappointing listing and continued underperformance had played a key role in the decision to defer the IPO plans.

First Published:Dec 6, 2021 1:03 PM IST