MobiKwik gets SEBI nod to operate as stockbroker
What's the story
Digital payment network MobiKwik is expanding its services by entering the stock broking space. The company's wholly-owned subsidiary, MobiKwik Securities Broking Private Limited (MSBPL), has received approval from the Securities and Exchange Board of India (SEBI) to operate as a Stock Broker/Clearing Member. The certificate of registration was issued on July 1, 2025, allowing MSBPL to buy, sell, deal in, clear and settle equity trades.
Market response
Shares of MobiKwik surged 2.5% following the news
Following the news of its new venture, MobiKwik's shares rose by 2.53% to close at ₹247.8 apiece. The company's 52-week high and low remain at ₹698 and ₹227, respectively. Bipin Preet Singh, co-founder and CEO of MobiKwik, expressed his excitement over the development saying it marks a major milestone for them as they enter Indian equity markets.
Business growth
MobiKwik has over 176 million users
MobiKwik, which started as a digital wallet platform, now has over 176 million users and 4.6 million merchants. The company's financial product offerings include mutual funds, fixed deposits (FDs), systematic investment plans (SIPs), and digital gold, among others. The new stock broking license is part of MobiKwik's strategy to accelerate its push into the wealth distribution space and strengthen its fintech footprint.