In today’s top payments news around the world, One MobiKwik Systems Pvt is said to be getting close to an initial public offering (IPO) in Mumbai, India, while SoftBank Group is reportedly in talks to back API Holdings. Plus, the OECD says the post-pandemic recovery has to focus on jobs.
One MobiKwik Systems Pvt is reportedly getting nearer to an IPO in Mumbai, India, that could bring in approximately $300 million. MobiKwik, an Indian digital wallet and payments upstart, intends to file a draft prospectus with the Indian securities watchdog “as soon as the next few days,” according to unnamed sources in a Bloomberg report. The firm could aim for a valuation of approximately $1 billion from the public offering.
SoftBank Group is reportedly in discussions to invest in API Holdings, which is the parent company to PharmEasy, the largest digital drugstore chain in India. SoftBank’s expected investment is estimated to range from $150 million to $200 million and would add to API’s newest funding round. Talks between API and SoftBank are continuing and a financial decision has not been reached to proceed with the funding, according to the unnamed sources.
Employment levels are still lower than prior to the pandemic’s start in most OECD nations, as per a new report from the entity, which says that jobs must be the focus for economic and social recovery globally. “It will be very important to get policy settings right to encourage business investment and job creation, as well as to drive the necessary upskilling, re-skilling and skills matching required to ensure everyone has the best possible opportunity to participate and benefit from the recovery,” OECD Secretary-General Mathias Cormannsaid in a release.