MobiKwik's subsidiary gets SEBI nod to operate as 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.'
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business of Fashion
38 minutes ago
- Business of Fashion
Prada Eyes ‘Made in India' Collaboration After Sandal Scandal
Prada is looking to collaborate with 'artisanal footwear' makers in India in a partnership, it said on Friday, two weeks after the Italian luxury group triggered a controversy by debuting ethnic sandals resembling 12th-century Indian ones. After viral photos from a Milan fashion show drew criticism from Indian artisans who make the sandals - named after the historic city of Kolhapur in Maharashtra state - Prada was forced late last month to acknowledge that its new open-toe footwear was inspired by ancient Indian designs. The furore even saw sales of Indian sandals boom, with sellers and artisans seeing the controversy as a way to promote the heritage craft by tapping into nationalist pride. Prada said in a statement to Reuters that it held talks remotely on Friday with the Maharashtra Chamber of Commerce, which represents 3,000 Kolhapuri sandal artisans, and discussed potential opportunities for future collaboration. 'The next step will be for Prada's supply chain team to meet a range of artisanal footwear manufacturers,' the company said. The Maharashtra Chamber of Commerce said that Lorenzo Bertelli, son of Prada's owners and head of its corporate social responsibility, joined the talks on Friday. The chamber of commerce said that during the talks Prada said it aimed to launch a limited-edition 'Made in India' Kolhapuri-inspired collection of sandals in partnership with Indian artisans. India's luxury market is small but growing, with the rich splurging on designer fashion, top end sports cars and pricey watches. Prada does not have any retail stores in India, and its products are usually reserved for the super rich who shop overseas. The sandal scandal left the social media abuzz for days with criticism and sarcastic memes, with Indian politicians, artisans and the Maharashtra Chamber of Commerce demanding due credit to Indian heritage. By Dhwani Pandya, Elisa Anzolin, Abinaya Vijayaraghavan; Editors: Aditya Kalra, Susan Fenton Learn more: After Prada 'Sandal Scandal,' Indian Sellers Tap Nationalist Pride to Boost Sales Sales are surging for the 'Kolhapuri' sandals that garnered global attention after Prada sparked a controversy by showing a similar design on the runway without crediting its origin.
Associated Press
an hour ago
- Associated Press
Ascentage Pharma Announces Proposed Top-Up Placement
ROCKVILLE, Md. and SUZHOU, China, July 14, 2025 (GLOBE NEWSWIRE) -- Ascentage Pharma Group International Inc. (NASDAQ: AAPG; HKEX: 6855) ('Ascentage' or the 'Company'), a global biopharmaceutical company dedicated to addressing unmet medical needs in cancers, announced that Dajun Yang Dynasty Trust, an affiliate of the Company's Chief Executive Officer, Dajun Yang, M.D., Ph.D. (the 'Vendor'), proposes to offer ordinary shares, par value US$0.0001 per share, of the Company (the 'Placement Shares') in an offshore transaction outside the United States to non-U.S. persons in reliance on Regulation S under the Securities Act of 1933, as amended (the 'Securities Act'), subject to market conditions and other factors (the 'Offshore Placement'). At the time of the closing of the Offshore Placement, the Vendor would subscribe for, and the Company would issue to the Vendor new ordinary shares of the Company (the 'Replacement Shares') at the same number as the number of the Placement Shares offered in the Offshore Placement and at the same price per share as the price per share for the Placement Shares. The closing of the transaction involving the issuance of the Replacement Shares will be subject to customary closing conditions and take place after the closing of the Offshore Placement. In connection with the Offshore Placement, the representatives in the Company's U.S. initial public offering in January 2025 waived a lock-up restriction with respect to the Placement Shares held by the Vendor. The Company intends to use the net proceeds resulting from the Offshore Placement, followed by the issuance of the Replacement Shares (the 'Offering Proceeds') for commercialization efforts, including expanding coverage and improving patient access, global clinical development to advance the core pipeline candidates of the Company, as well as infrastructure and working capital to strengthen global operations. The Placement Shares have not been and will not be registered under the Securities Act or any state securities laws nor does the Offshore Placement require registration in Hong Kong or elsewhere. They may not be offered or sold in the United States or to U.S. persons (as defined in Regulation S under the Securities Act) except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. They will not be offered to any members of the 'public' (within the meaning of the Companies (Winding Up and Miscellaneous Provisions) Ordinance, Chapter 32 of the Laws of Hong Kong). This press release shall not constitute an offer to sell or a solicitation of an offer to purchase any securities, in the United States, Hong Kong, or elsewhere, and shall not constitute an offer, solicitation or sale of the securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. This press release contains information about the pending Offshore Placement, and there can be no assurance that the Offshore Placement will be completed. About Ascentage Pharma Group International, Inc. Ascentage Pharma Group International, Inc. (NASDAQ: AAPG; HKEX: 6855) ('Ascentage Pharma' or the 'Company') is a global biopharmaceutical company dedicated to addressing unmet medical needs in cancers. The company has built a rich pipeline of innovative drug candidates that includes inhibitors targeting key proteins in the apoptotic pathway, such as Bcl-2 and MDM2-p53 and next-generation kinase inhibitors. The lead asset, olverembatinib, is the first novel third-generation BCR-ABL1 inhibitor approved in China for the treatment of patients with CML in chronic phase (CML-CP) with T315I mutations, CML in accelerated phase (CML-AP) with T315I mutations, and CML-CP that is resistant or intolerant to first and second-generation TKIs. It is covered by the China National Reimbursement Drug List (NRDL). The Company is currently conducting an FDA-cleared, global registrational Phase III trial, or POLARIS-2, of olverembatinib for CML, as well as global registrational Phase III trials for patients with newly diagnosed Ph+ ALL and SDH-deficient GIST patients. The second lead asset, lisaftoclax, is a novel Bcl-2 inhibitor for the treatment of various hematologic malignancies. The NDA for the treatment of relapsed and/or refractory CLL and SLL just received approval by China's National Medical Products Administration (NMPA). The Company is currently conducting 4 global registrational Phase III trials: the GLORA study of lisaftoclax in combination with BTK inhibitors in patients with CLL/SLL previously treated with BTK inhibitors for more than 12 months with suboptimal response; the GLORA-2 study in patients with newly diagnosed CLL/SLL; the GLORA-3 study in newly diagnosed, elderly and unfit patients with AML; and the GLORA-4 study in patients with newly diagnosed higher risk MDS. Leveraging its robust R&D capabilities, Ascentage Pharma has built a portfolio of global intellectual property rights and entered into global partnerships and other relationships with numerous leading biotechnology and pharmaceutical companies, such as Takeda, AstraZeneca, Merck, Pfizer, and Innovent, in addition to research and development relationships with leading research institutions, such as Dana-Farber Cancer Institute, Mayo Clinic, National Cancer Institute and the University of Michigan. For more information, visit Forward-Looking Statements This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, contained in this press release may be forward-looking statements, including statements that express Ascentage Pharma's expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results of operations or financial condition. These forward-looking statements are subject to a number of risks and uncertainties as discussed in Ascentage Pharma's filings with the SEC, including those set forth in the sections titled 'Risk factors' and 'Special note regarding forward-looking statements and industry data' in the Form 20-F filed with the SEC on April 16, 2025, the sections headed 'Forward-looking Statements' and 'Risk Factors' in the prospectus of the Company for its Hong Kong initial public offering dated October 16, 2019, and other filings with the SEC and/or The Stock Exchange of Hong Kong Limited we made or make from time to time that may cause actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. The forward-looking statements contained in this press release do not constitute projections by the Company's management. As a result of these factors, you should not rely on these forward-looking statements as predictions of future events. The forward-looking statements contained in this press release are based on Ascentage Pharma's current expectations and beliefs concerning future developments and their potential effects and speak only as of the date of these statements. Ascentage Pharma does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless as may otherwise be required by law. Contacts Investor Relations: Hogan Wan, Head of IR and Strategy Ascentage Pharma [email protected] +86 512 85557777 Stephanie Carrington ICR Healthcare [email protected] +1 (646) 277-1282 Media Relations: Sean Leous ICR Healthcare [email protected] +1 (646) 866-4012
Business Upturn
2 hours ago
- Business Upturn
Apollo Pipes begins commercial production of uPVC Doors & Windows at Dadri facility
Apollo Pipes Limited (APL), one of India's top six piping solution providers, has officially commenced commercial production of its 'uPVC Doors & Windows' at its manufacturing facility in Dadri, Uttar Pradesh. This launch marks APL's strategic entry into the premium home improvement space, expanding its product portfolio and reinforcing its commitment to quality-driven innovation. The new line adds over 250 SKUs and offers a total capacity of 4,000 tonnes per annum. With a focus on the northern Indian market, APL aims to capture demand in the high-value uPVC segment. Backed by strong infrastructure and technical expertise, the company plans to deliver efficient, durable, and cost-effective solutions. Sameer Gupta, Chairman cum Managing Director, Apollo Pipes (APL), stated, 'This strategic investment reflects our commitment in diversifying our product portfolio and strengthening our presence in high-value segments like the window and door market, which offers higher EBITDA margins. As a result, this expansion is expected to be value accretive. With this move, APL will become one of the few manufacturers in India with capability to produce specialized windows and doors, positioning itself amongst an elite group of technologically advanced players. The new production line will allow us to introduce over 250+ SKUs, greatly enhancing our ability to serve complex and customized infrastructure needs. Supported by our well-established distribution network and strong execution capabilities, we are confident in our ability to rapidly scale up this segment.' This move positions Apollo Pipes to compete in a niche but growing category with fewer players, helping it strengthen its brand presence across the home improvement segment. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
