The Securities and Exchange Board of India (SEBI) has approved Mobikwik, a fintech firm, to operate as a stockbroker and clearing member through its wholly owned subsidiary, Mobikwik Securities Broking Private Limited.
Key Highlights
- Mobikwik Securities receives SEBI nod to operate as a stockbroker and clearing member from July 1.
- Mobikwik shares rose ~4% intraday on NSE after the announcement, boosting its fintech diversification strategy.
The regulatory clearance, granted under SEBI's Stock Broker Regulations of 1992, enables the company to buy, sell, and deal in securities on behalf of clients, as well as clear and settle trades. MSBPL may also conduct other exchange-approved activities.
Mobikwik incorporated MSBPL in March 2025, marking its official entry into the capital markets ecosystem. With this move, the company enters a crowded stock broking market dominated by platforms like Groww, Zerodha, AngelOne, Upstox, and ICICI Direct. Groww currently dominates the sector in terms of active users, followed by Zerodha and AngelOne.
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The development reflects Mobikwik's ongoing efforts to expand beyond payments into other financial services. Soon after launching MSBPL, the company established a wholly owned NBFC subsidiary, while another subsidiary, Zaakpay, was granted RBI approval to operate as a payment aggregator.
