MobiKwik is preparing for its IPO, but potential investors should be cautious due to allegations of unethical practices. The company is accused of retroactively locking investor funds in its Xtra P2P lending scheme and blaming RBI guidelines. Over ₹7,000 crore remains stuck, with unclear repayment timelines, causing distress for investors. It is crucial to consider the risk of investing in a company that changes terms without consent.
Despite the potential listing gain due to the recent Paytm run-up, MobiKwik’s IPO plans are overshadowed by these accusations. With only a 57 crore retail quota and uncertainty surrounding the company’s practices, thorough research is necessary before investing. Prioritize transparency and investor trust, as MobiKwik reportedly falls short on essential quality investing criteria.
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