FreeCharge and MobiKwik may get merged

India Infoline News Service | Mumbai | April 24, 2017 14:14 IST

Mobile wallet FreeCharge is reportedly planning to merge itself in an all-stock deal with MobiKwik, with the new merged entity likely to get an investment of $200 million from a Chinese investor who wants to invest in Indian businesses.

FreeCharge and MobiKwik may get merged
 
Mobile wallet FreeCharge is reportedly planning to merge itself in an all-stock deal with MobiKwik, with the new merged entity likely to get an investment of $200 million from a Chinese investor who wants to invest in Indian businesses. Also, some banks have shown their interest to invest in that merged entity, as reported on a national news portal.
 
Important Statistics: -
Particulars Freecharge MobiKwik
Merchants Approx. 1 million Approx. 1.4 million
Customers 50-75 million 50 million
Establishment Year 2010 2009
Founders Kunal Shah & Sandeep Tandon Bipin Preet Singh & Upasana Taku
Investors Sequoia Capital, Tandon Group, Ru-Net, Tybourne Capital Management Sequoia Capital, American Express, Tree Line Asia, MediaTek, Cisco Investments
 
If the alleged merger talks earn positive results, then MobiKwik and FreeCharge would be worth around $300 million each, and a merged entity could be valued at anything between $700 million to $1 billion, said a market analyst.

Disclaimer: The contents herein is specifically prepared by ‘Dalal Street Investment Journal’, and is for your information & personal consumption only. India Infoline Limited or Dalal Street Investment Journal do not guarantee the accuracy, correctness, completeness or reliability of information contained herein and shall not be held responsible.

 

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