Fintech firm One MobiKwik Systems Ltd announced on Monday (February 23) that its wholly-owned subsidiary Mobikwik Securities Broking Private Ltd (MSBPL) has received approval from the Bombay Stock Exchange (BSE) to commence its stock broking business. According to reports from CNBC TV18, the BSE has enabled MSBPL on its platform with effect from February 24, 2026. This development marks a crucial step in MobiKwik's transformation from a digital payments company into a diversified fintech platform offering a wider array of financial services. The approval signifies the culmination of key regulatory requirements for the subsidiary to operationalize its stock broking business.
The BSE approval follows the grant of stock broking registration to MSBPL by the Securities & Exchange Board of India (SEBI) in July 2025, as reported by CNBC TV18. With this regulatory clearance, MSBPL is now authorised to carry out broking operations on the BSE, including buying, selling, dealing, clearing, and settlement of equity trades. The subsidiary was incorporated in March 2025 specifically to enter the securities broking business, positioning MobiKwik to directly compete in the retail stock investment space. This strategic move leverages the company's extensive existing user base to drive customer acquisition in this new vertical, complementing its existing payment and credit offerings.
MSBPL will enter a competitive landscape dominated by established digital brokers including Groww (known for its user-friendly interface and millennial appeal), Zerodha (India's largest broker by active clients), Angel One (hybrid model offering research and advisory), and Upstox (technology-driven platform with competitive pricing). The India Digital Brokerage and Trading Apps Market was valued at approximately ₹1,200 billion as of October 2025, driven by technology adoption and surge in retail investor participation. The broader India Securities Brokerage Market was estimated at USD 4.25 billion in 2025 and projected to reach USD 6.21 billion by 2030, growing at a CAGR of 7.89%.
Upasana Taku, Executive Director, co-founder and CFO, MobiKwik, stated that the approval by BSE to commence their stock broking business is a pivotal step in MobiKwik's evolution into a scaled financial services platform, according to CNBC TV18. Taku emphasized that India has witnessed incredible growth in retail investor participation, and the platform can help demystify investing for users taking their first steps into the markets. She added that the company will continue to responsibly serve the financial needs of Bharat and build products that genuinely improve financial inclusion. The leadership has articulated a vision to build a full-stack fintech platform to enhance financial inclusion for a vast segment of the Indian population.
Shares of One MobiKwik Systems Ltd ended at ₹201.05, down by ₹8.40, or 4.01%, on the BSE, as reported by CNBC TV18. The stock price decline occurred despite the positive regulatory development for the company's subsidiary's expansion into stock broking services. Shareholders can anticipate the company's entry into a new revenue stream within the financial services ecosystem, with potential cross-selling initiatives between MobiKwik's payment/lending products and its new broking services.
