MobiKwik seeks nod to vary IPO objects, extend timeline

One MobiKwik Systems Limited has initiated a postal ballot process to seek shareholder approval for a proposed variation in the objects and terms of utilization of its Initial Public Offering (IPO) proceeds, along with an extension of the time limit for utilising these funds. The company submitted the necessary disclosures, including Form PAS-1, to the stock exchanges on June 03, 2026, in compliance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the Companies Act, 2013.

The notices regarding the postal ballot, remote e-voting, and the public notice for the variation of objects were published in newspapers on June 03, 2026. The publications appeared in the Financial Express (All India editions) and Jansatta (Delhi and NCR edition). Ankita Sharma, the Company Secretary and Compliance Officer, signed the submission to the exchanges.

The proposal involves revising the allocation of funds raised during the IPO. The company intends to reallocate capital across several specific objects, including funding working capital requirements, supporting data and artificial intelligence initiatives, and covering general corporate expenses. The variation also addresses the extension of the timeline for deploying these funds, ensuring the company can utilize the proceeds as per the revised schedule.

Details of IPO Proceeds Variation

Object Clause	Original Amount (₹ crore)	Revised Amount (₹ crore)	Amount Utilized (₹ crore)	Amount Unutilized (₹ crore)	Change (₹ crore)	Remarks
Funding working capital requirements	65.00	65.00	65.00	0.00	0.00	-
Data and AI initiatives	0.00	50.00	0.00	50.00	50.00	Extension in timeline up to FY27
General corporate expenses	0.00	50.00	0.00	50.00	50.00	Extension in timeline up to FY27
Total from Net Proceeds	65.00	165.00	65.00	100.00	100.00	-
Total from Gross Proceeds	65.00	165.00	65.00	100.00	0.00	-

The revised allocation includes ₹50 crore for data and AI initiatives and ₹50 crore for general corporate expenses, both of which were not part of the original object allocation. The company has fully utilized the original allocation of ₹65 crore towards working capital requirements. The extension of the utilization timeline for the new objects is proposed up to FY27.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.05%	-3.46%	-9.73%	-15.63%	-28.63%	-63.19%

One MobiKwik Systems Limited has informed the stock exchanges that its officials will participate in a non-deal roadshow on June 3 and June 4, 2026. The disclosure was made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The meetings will be conducted in physical mode in Mumbai. The schedule includes one-to-one and group meetings with analysts and investors. The company clarified that discussions during the event will be strictly based on publicly available information.

Meeting Schedule

Day and Date	Event & Organizer	Mode	Nature of Meeting	Venue
Wednesday, June 03, 2026 & Thursday, June 04, 2026	Non-Deal Roadshow	Physical	One-to-One and Group Meetings	Mumbai

One MobiKwik Systems Limited stated that the dates of the meeting are subject to change due to exigencies on the part of the hosts or the company. Furthermore, the entity emphasized that no unpublished price-sensitive information is proposed to be shared during the aforesaid meet.

The information regarding this schedule has been disclosed on the company's official website. The communication was signed by Ankita Sharma, Company Secretary and Compliance Officer.