Latest news with #MSBPL
Business Standard
a day ago
- Business
- Business Standard
Mobikwik Securities Broking receives SEBI approval to commence stock broking biz
Mobikwik Securities Broking (MSBPL), a wholly-owned subsidiary of One MobiKwik Systems (MobiKwik), has received regulatory approval from the Securities and Exchange Board of India (SEBI) to act as a Stock Broker / Clearing Member. The certificate of registration was issued by SEBI on 01 July 2025, enabling MSBPL to carry on the activities of buying, selling, dealing, clearing and settlement of equity trades. Since its inception, MobiKwik has transformed from a digital payments company into a diverse fintech platform. The Company operates a consumer payments business at scale with an extensive network of over 176.4 million users and 4.6 million merchants. Its credit distribution business is expanding rapidly, while its wealth distribution vertical is building traction through a diverse product portfolio, including Fixed Deposits (FDs), Mutual Funds (MFs), Systematic Investment Plans (SIPs), Digital Gold, and This license strategically positions MobiKwik to accelerate growth in its wealth distribution vertical and broaden its offerings throughout the capital markets ecosystem, reinforcing its transformation into a comprehensive fintech platform.
&w=3840&q=100)
Business Standard
a day ago
- Business
- Business Standard
MobiKwik's subsidiary receives Sebi approval to act as stock broker
MobiKwik Securities Broking (MSBPL), a wholly-owned subsidiary of fintech firm MobiKwik, on Thursday said the company received regulatory approval from the Securities and Exchange Board of India (SEBI) to act as a stock broker and clearing member. The firm said SEBI issued the certification of registration to the firm on 1 July. This now allows MSBPL to conduct activities such as buying, selling, dealing, clearing and settlement of equity trades. 'This licence strategically positions MobiKwik to accelerate growth in its wealth distribution vertical and broaden its offerings throughout the capital markets ecosystem, reinforcing its transformation into a comprehensive fintech platform,' the company said in a release. The Ministry of Corporate Affairs had approved the incorporation of the securities broking arm of the firm in March. The company had said that it plans to become a member of various stock and commodity exchanges in the country and abroad. "The stock broking licence marks a significant milestone for us as we enter the Indian equity markets... With this, we move a step closer to our goal of building a full-stack fintech platform that eases the adoption of digital financial services for the untapped populace of Bharat,' said Bipin Preet Singh, co-founder, managing director (MD) and chief executive officer (CEO), MobiKwik. Earlier in April, Zaak ePayment Services Private Limited (Zaakpay) received a Certificate of Authorisation from the Reserve Bank of India (RBI) to operate as an online payment aggregator.
Business Upturn
a day ago
- Business
- Business Upturn
MobiKwik's subsidiary gets SEBI nod to operate as stock broker and clearing member
One MobiKwik Systems Limited announced that its wholly-owned subsidiary, Mobikwik Securities Broking Private Limited (MSBPL), has received a Certificate of Registration from the Securities and Exchange Board of India (SEBI) to operate as a stock broker and clearing member. This approval, granted under the SEBI (Stock Brokers) Regulations, 1992, authorizes MSBPL to undertake activities such as buying, selling, and dealing in securities, as well as clearing and settlement of trades. It also opens doors for the company to explore additional services permitted by stock exchanges and clearing corporations. Advertisement The certificate is effective from July 1, 2025, and notably, it does not carry an expiry date, signaling a long-term green light from the market regulator. There have been no instances of suspension, withdrawal, or penalties associated with this license. Bipin Preet Singh, Co-founder, MD & CEO, MobiKwik, stated, 'The stock broking license marks a significant milestone for us as we enter the Indian equity markets. India has witnessed incredible growth in retail investor participation, and we believe our platform can help demystify investing for users taking their first steps into the markets. With this, we move a step closer to our goal of building a full-stack fintech platform that eases the adoption of digital financial services for the untapped populace of Bharat.'
