In last 6 months, the company claims to have seen tenfold growth in its monthly revenues. Kikibix plans to use the funds to launch more products categories, build a team and enter more distribution channels across the country
The IPO comprises a fresh issue of shares worth 12.5 billion rupees ($152.1 million) and an offer for sale of 109.4 million shares, according to draft prospectus
Former Executive Director of the Reserve Bank of India Eugene Karthak joins as an Independent Board Director and S Vishvanathan who joins as Advisor, led the State Bank of India as the Managing Director and as Director on the Central Board
The card, which can be used in both virtual and physical forms, is seamlessly integrated within the Qubehealth mobile app and offers a fully digital onboarding process, UPI P2M payments, and cashback rewards, among other advanced features