MobiKwik enters stock broking business to rival Groww, Zerodha
What's the story
MobiKwik, one of the leading players in the fintech space, is entering the world of stock broking and derivatives trading. The move will be made through its newly-formed subsidiary, MobiKwik Securities Broking Pvt Ltd (MSBPL). The formation of MSBPL was officially approved by the Ministry of Corporate Affairs's Central Processing Centre on March 3, 2025. According to a regulatory filing by MobiKwik, MSBPL is now a wholly-owned subsidiary of the company.
Strategic goals
MSBPL's business focus and expansion plans
MSBPL is strategically focused on trading in shares, stocks, securities, debt instruments, commodities, currencies, and their derivatives. The company plans to obtain memberships in various stock and commodity exchanges both domestically within India as well as internationally. With this move, the company will step into the highly competitive stock broking market, currently led by Groww, Zerodha, and AngelOne. Groww holds the top spot with the highest number of active users, followed by Zerodha, AngelOne, Upstox, and ICICI Direct.
Investment details
Financial commitment and market performance
MSBPL has an initial paid-up share capital of ₹1 lakh. MobiKwik intends to pump in another ₹2 crore into the subsidiary in one or more tranches to strengthen its operations. However, despite the expansion news, shares of the company took a hit on Wednesday, declining by 3.32% to ₹307.2 on the NSE. MobiKwik had a strong market debut on December 18, 2024, opening nearly 60% above its issue price at ₹440.