The stock of financial technology company MobiKwik surged up to 11 percent during early trading hours after the company announced that one of its subsidiaries received approval from the Bombay Stock Exchange (BSE) to operate as a stock broking firm.
The sharp uptick in the stock price was, however, short-lived as the scrip later eased to a gain of 2.4 percent. It was trading at Rs 206 at around 1:10 PM.
The company on Monday reported that its wholly owned subsidiary, MobiKwik Securities Broking Private Limited (MSBPL), received approval from the Bombay Stock Exchange (BSE) to commence its stock broking business.
“BSE has enabled MSBPL on its platform with effect from February 24, 2026. The BSE nod follows the grant of stock broking registration to MSBPL by the Securities and Exchange Board of India in July 2025. With the latest approval in place, the company is now authorized to begin broking operations on the BSE. This enables MSBPL to carry on the activities of buying, selling, dealing, clearing and settlement of equity trades,” it said in a regulatory filing.
On the occasion, MobiKwik’s Executive Director, Co-founder and CFO Upasana Taku said that the platform would seek to “demystify investing for users taking their first steps into the markets.”
The stock closed at Rs 201 on Monday, but it opened 7 percent higher on Tuesday, reaching as high as Rs 226 during the day.
However, this is still significantly lower than the stock’s 52-week high of Rs 355 in March last year.
With a market capitalisation of over Rs 1,618 crore, MobiKwik’s stock is listed as One MobiKwik Systems on the bourses. The fintech company was founded by Bipin Preet Singh and Upasana Taku in 2009 as a mobile phone-based payment and digital wallet provider.
Over the last 17 years, it has grown into providing digital credit, investment options, and insurance services.
The Gurugram-based firm reported revenue of Rs 286 crore and a net profit of Rs 6.68 crore.
