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Paytm's dream of an 'overvaluation' has led to problems for others. The disappointed listing has caused a significant correction in the valuation of other fintech startups as well.
Mobikwik, which was looking to open its IPO in November, could delay it to the next financial year, as reported by Economic Times.
The report said that the company finds it difficult to get institutional investors and moreover, its valuation has seen a dip of 30-40%. This as Paytm's listing has created a lot of skepticism around the fintech business in India.
A report by The Morning Context said that two investors who had committed to investing in Mobikwik's public issue have pulled out. These two investors are Nomura and Eastspring Investments.
Paytm has eroded Rs 50,000 crore in its valuation in just two trading sessions after listing. Ironically, the listing was aimed at raising Rs 18,000 crore.

Paytm's listing creates havoc for fintechs; Mobikwik delays IPO

Paytm's beleaguered listing caused Mobikwik's investors backing off. IPO delyed to next financial year as the valuation dropped by 30-40% as per reports. 

Mobikwik IPO delayed

Mobikwik's valuation has seen a dip of 30-40% after&nbsp;Paytm's&nbsp;debut disappointment

Paytm's&nbsp; debut disappointment is spreading to the rest of the fintech&nbsp;startup ecosystem looking to step into Dalal&nbsp;Street.&nbsp;&nbsp;Mobikwik, which was looking to open its IPO&nbsp;in November, could delay it to the next financial year, as reported by Economic Times.
The report said that the company finds it difficult to get institutional investors and moreover, its valuation has seen a dip of 30-40%. This as&nbsp;Paytm's&nbsp;listing has created a lot of skepticism around the fintech&nbsp;business in India.
A report by The Morning Context said that two investors who had committed to investing in Mobikwik's&nbsp;public issue have pulled out. These two investors are Nomura&nbsp;and Eastspring&nbsp;Investments.
Paytm&nbsp;has eroded Rs 50,000 crore&nbsp;in its valuation in&nbsp;just two trading sessions after listing. Ironically,&nbsp;the listing was aimed at raising Rs 18,000 crore.
Also read/watch:<a href="https://www.editorji.com/business-news/markets/paytm-lacks-focus-and-direction-expect-more-downside-says-macquarie-1637566259446" target="_blank">&nbsp;Paytm lacks focus and direction, expect more downside says Macquarie</a>

Online payments platform Mobikwik&nbsp;has filed its draft prospectus with SEBI&nbsp;to raise Rs 1,900 crore&nbsp;via an initial public offering.
ALSO WATCH:&nbsp;Paytm IPO: Here comes the giant fintech offering of Rs 16,600 crore for Dalal Street
The IPO&nbsp;will include Rs 1,500 crore&nbsp;of fresh issues and Rs 400 crore&nbsp;of the secondary share sales.
One MobiKwik Systems Limited was last valued at $700 million when it raised $20 million last month from Abu Dhabi Investment Authority (ADIA). Now, it could seek a valuation of around $1 billion from the offering, reported Bloomberg.
ALSO WATCH:&nbsp;You can now pre-book IPO via Paytm Money, just in time for the Zomato order
The company's&nbsp;financials&nbsp;worsened as its consolidated losses were Rs 111 crore&nbsp;for the FY21 as compared to Rs 99.9 crore&nbsp;in the previous financial year.
ALSO WATCH:&nbsp;Startup Digest: Latest from Pharmeasy, MobiKwik IPO, DoSelect Powerplay

Mobikwik IPO: DRHP filed to raise Rs 1,900 crore

Online payments platform Mobikwik&nbsp;has filed its draft prospectus with SEBI&nbsp;to raise Rs 1,900 crore&nbsp;via an initial public offering.

Mobikwik could seek a valuation of around $1 billion from the offering

Online payments platform Mobikwik&nbsp;has filed its draft prospectus with SEBI&nbsp;to raise Rs 1,900 crore&nbsp;via an initial public offering.
ALSO WATCH:&nbsp;<a href="https://www.edtr.ai/9tvk" target="_blank">Paytm IPO: Here comes the giant fintech offering of Rs 16,600 crore for Dalal Street</a>
The IPO&nbsp;will include Rs 1,500 crore&nbsp;of fresh issues and Rs 400 crore&nbsp;of the secondary share sales.
One MobiKwik Systems Limited was last valued at $700 million when it raised $20 million last month from Abu Dhabi Investment Authority (ADIA). Now, it could seek a valuation of around $1 billion from the offering, reported Bloomberg.
ALSO WATCH:&nbsp;<a href="https://www.edtr.ai/9tvv" target="_blank">You can now pre-book IPO via Paytm Money, just in time for the Zomato order</a>
The company's&nbsp;financials&nbsp;worsened as its consolidated losses were Rs 111 crore&nbsp;for the FY21 as compared to Rs 99.9 crore&nbsp;in the previous financial year.
ALSO WATCH:&nbsp;<a href="https://www.edtr.ai/9tw2" target="_blank">Startup Digest: Latest from Pharmeasy, MobiKwik IPO, DoSelect Powerplay</a>

A group of cyber security researchers on Twitter have alleged that Mobikwik suffered a data breach that leaked users' information, while the company denies any breach.

Hackers claim 3.5 million users compromised in Mobikwik data breach, company denies

Hackers claim 3.5 million users compromised in Mobikwik data breach, company denies
A group of cyber security researchers on Twitter, including the well-known hacker who goes by Elliot Alderson, have claimed that 3.5 million users of the payment app Mobikwik have had their private information leaked in a data breach.
The leak purportedly includes personal information like names and phone numbers, along with soft copies of KYC documents like PAN cards and Aadhaar cards. The documents allegedly add up to 8.2TB of data and are available on the dark web.
Mobikwik, however, has said in a statement that they have thoroughly investigated the allegations and not found any security lapses, and that user data is safe and secure.
Hackers claim Mobikwik's 3.5 million users compromised in data breach Personal information like names, phone numbers leaked KYC documents like PAN, Aadhaar cards leaked Leaked documents add up to 8.2TB of data on dark web Mobikwik denies security breach in statement

A group of cyber security researchers on Twitter, including the well-known hacker who goes by Elliot Alderson, have claimed that 3.5 million users of the payment app Mobikwik have had their private information leaked in a data breach.
The leak purportedly includes personal information like names and phone numbers, along with soft copies of KYC documents like PAN cards and Aadhaar cards. The documents allegedly add up to 8.2TB of data and are available on the dark web.
Mobikwik, however, has said in a statement that they have thoroughly investigated the allegations and not found any security lapses, and that user data is safe and secure.

mobikwik

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