MobiKwik is set to enter the stock broking and derivatives trading business through its newly incorporated subsidiary, MobiKwik Securities Broking Pvt Ltd (MSBPL), the company said in a regulatory filing.
The Ministry of Corporate Affairs, Central Processing Centre, approved the incorporation of MSBPL as a wholly owned subsidiary of MobiKwik on March 3, 2025.
The primary objective of MSBPL is to engage in the business of dealing in shares, stocks, securities, debt instruments, commodities, currencies, and their derivatives. The company also intends to act as a stock and commodity broker by acquiring membership in various stock and commodity exchanges in India and abroad.
"The initial paid-up share capital of MSBPL is Rs 1 lakh. The company plans to infuse an additional Rs 2 crore in one or more tranches to support the venture,” MobiKwik said in its exchange filing.
Shares of One MobiKwik Systems were under selling pressure on Wednesday, declining 3.32 percent to Rs 307.2 on the NSE.
MobiKwik made a strong market debut on December 18, 2024, listing at a premium of nearly 60 per cent after a robust response to its three-day IPO.
Fintech firm One MobiKwik Systems Ltd stock listed at Rs 440 per share on the NSE, a significant premium of 57.71 percent against the issue price of Rs 279.
One Mobikwik Systems Limited is a platform business at its core, that has a two-sided payments network, consisting of consumers and merchants.
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