Mobikwik gets SEBI nod to launch stockbroking operations

Fintech company Mobikwik has received regulatory approval from SEBI to operate as a stockbroker and clearing member through its wholly owned subsidiary, Mobikwik Securities Broking Private Limited (MSBPL).

The SEBI clearance, granted under the Stock Broker Regulations, 1992, enables MSBPL to buy, sell, and manage securities transactions on behalf of clients, as well as conduct clearing and settlement operations. The subsidiary may also take up other exchange-approved functions.

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MSBPL was incorporated in March 2025, marking Mobikwik’s formal foray into the capital markets space. With this move, the company enters a competitive segment led by groww, zerodha, AngelOne, Upstox, and ICICI Direct—where Groww currently holds the largest active user base.

Bipin Preet Singh, Co-founder, MD & CEO of MobiKwik, expressed his enthusiasm about this development: “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."

This expansion underscores Mobikwik’s broader strategy to diversify beyond digital payments. Alongside after launching MSBPL, the company recently launched a non banking financial company (NBFC) and secured RBI approval for its subsidiary Zaakpay to operate as a payment aggregator.