MobiKwik shares surged over 15% to hit a 52-week high of ₹241, following the company's announcement of RBI approval for its NBFC licence, with shares trading 14.02% higher at ₹230.26 as of 1:35 pm on April 27. According to Economic Times, the stock exchange filing marked a significant milestone in the Group's journey to deepen its financial services offerings. Upasana Taku, Executive Director, Co-founder & CFO, highlighted that the application approval in under four months represents an endorsement of the Group's credibility and is grateful to RBI for reposing faith in them. Following the announcement, shares closed at ₹224.80 on the BSE, compared with the previous close of ₹202.55, as reported by Outlook Business. The market appears to be treating the RBI approval as more than a routine licence, viewing it as a growth trigger for MobiKwik's next phase of expansion.
MobiKwik Systems Ltd has secured approval from the Reserve Bank of India for a non-banking financial company (NBFC) licence, marking a significant regulatory milestone for the listed fintech company. As per the company's stock exchange filing, the licence will operate under wholly owned subsidiary MobiKwik Financial Services Private Limited (MFSPL), enabling the company to launch its lending arm through direct origination and underwriting. CEO Bipin Preet Singh stated that the NBFC licence is designed to make the business more efficient and improve margins, with most of MobiKwik's financial services revenue currently coming from lending activities. According to Economic Times, the NBFC licence will allow the fintech firm to strengthen its full-stack financial services offering, improve lending margins and accelerate the launch of new products. The move marks a significant step in MobiKwik's transition from a payments-focused platform to a broader financial services player.
According to the company's filing, the NBFC licence will enable the launch of a new lending division - MobiKwik Financial Services Private Limited (MFSPL), which will help expand regulated lending capabilities, design innovative credit products, and serve a broader base of consumers and merchants with greater efficiency and control. The company currently operates with a user base of approximately 186 million and serves 4.79 million merchants across various products as of April 2026, primarily focusing on tier two and three cities in India. Ankur Jaipuria, Co-founder & CFO, emphasized that the NBFC approval validates their vision of building a digital-first, responsible lending platform for India's underserved borrowers, with the real work beginning now. MobiKwik plans to offer both secured and unsecured credit products to consumers and MSMEs, with a focus on underserved segments across Tier II and Tier III markets. The company aims to leverage its tech stack, AI/ML capabilities, and large user base of over 186 million to deliver personalised financial products.
As reported by Economic Times, the in-house NBFC would enable faster go-to-market for both secured and unsecured lending products, while also supporting access to more sustainable capital through co-lending partnerships. The company emphasized that this regulatory approval comes as Indian fintechs increasingly seek regulated structures, moving away from distribution-only models after years of tighter RBI scrutiny on digital lending and unsecured consumer credit. The NBFC licence will allow MobiKwik to originate and underwrite loans directly, moving beyond its existing model of partnering with third-party lenders. This is expected to improve margins, enable faster go-to-market for new products, and strengthen control over credit underwriting and risk management. Operations will begin after the company receives a certificate of registration from the RBI and fulfils the necessary regulatory conditions. If MobiKwik can successfully cross-sell loans, merchant credit or other financial products to even a portion of its existing base of 186 million registered users and 4.79 million merchants, the opportunity could become meaningful.
The regulatory approval comes amid broader industry developments, including the RBI's cancellation of Paytm Payments Bank's licence on Friday, more than two years after regulatory orders brought its operations to a halt. According to Mint, this development is expected to push competitors like Paytm to pursue NBFC licences as well. MobiKwik joins the likes of IndiaGold, Flipkart, Newtap, Lendingkart, KrazyBee and Capital Float, among others, that hold NBFC licences and operate as regulated lenders with greater control over their credit businesses. The move represents a shift in the Indian fintech landscape, where tighter RBI rules between 2021 and 2025 on digital lending, first-loss default guarantees, and data governance had previously curbed growth and raised compliance costs for the sector. The regulatory approval provides a pivotal step in MobiKwik Group's evolution into a scaled financial services platform, as highlighted by Economic Times, with the approval providing a regulatory framework to deepen its credit offerings and strengthen its full-stack financial services offering.
