New Delhi, August 18, 2026: Fintech firm One MobiKwik Systems on Tuesday announced the completion of the transfer of its digital lending business to its wholly-owned subsidiary, MobiKwik Distribution Services Private Limited (MDSPL). The company also appointed Manish Pathania, formerly with Bajaj Markets, as the Chief Business Officer (CBO) of MDSPL to lead the vertical.
The transfer of the Lending Service Provider (LSP) business, which includes the migration of associated employees, was executed on a "slump sale" basis.
According to a regulatory filing, the consideration for the sale will be discharged through the issuance of Non-Convertible Debentures (NCDs) by MDSPL to the parent company, based on the book value of assets and liabilities as of August 18, 2026.
RBI Requirement Drives Transfer
The move follows a requirement set by the Reserve Bank of India (RBI). In April 2026, the apex bank had approved the Group’s NBFC application on the condition that the LSP business be migrated to a separate wholly-owned subsidiary before the issuance of the Certificate of Registration (CoR).
Following shareholder approval on July 2, MobiKwik infused Rs 60.85 crore as equity into MDSPL.
"The completion of the digital lending business transfer is an important milestone in MobiKwik’s lending journey. Consolidating the business and team under MDSPL… gives us a dedicated structure to take this business forward. The transition also supports our broader journey towards building a more integrated and regulated lending platform," MobiKwik MD and CEO Bipin Preet Singh said.
Lending Growth Targets
The company expects to achieve quarterly disbursals of over Rs 1,000 crore in the coming quarters, driven by AI-led growth initiatives and new lender partnerships.
Newly appointed CBO Manish Pathania brings nearly 20 years of experience in digital lending, business development, and strategic planning, having previously worked at Bajaj Markets, GE Money, and HDB Financial Services.
User Base And Financial Performance
MobiKwik currently serves about 19.3 crore registered users and 50.2 lakh merchants. The company’s digital wallet holds a 19 per cent market share by gross transaction value as of June 2026.
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The company reported a consolidated profit of Rs 7.6 crore in the April-June quarter, against a net loss of Rs 41.92 crore in the year-ago period. MobiKwik's revenue from operations grew 3.7 per cent to Rs 281.48 crore during the first quarter of FY27, up from Rs 271.36 crore in Q1 FY26.
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