Latest news with #BipinPreetSingh
&w=3840&q=100)
Business Standard
04-07-2025
- Business
- Business Standard
One MobiKwik share price rises 2% on Sebi nod to operate as stock broker
One MobiKwik share price: One MobiKwik share price rose as much as 1.94 per cent to hit an intraday high of 252 per share on the last trading day of the week, i.e. Friday, July 4, 2025. At 9:35 AM, One MobiKwik shares continued to trade higher, up 0.73 per cent at 249 per share. In comparison, BSE Sensex was trading flat at 83,242.44 levels. Why did One MobiKwik share price rise today? Shares of One MobiKwik rose after its wholly-owned subsidiary, Mobikwik Securities Broking Private Limited (MSBPL), secured regulatory approval from the Securities and Exchange Board of India (Sebi) to operate as a Stock Broker and Clearing Member. Sebi granted the certificate of registration on July 1, 2025, allowing MSBPL to engage in equity trading, clearing, and settlement activities. Bipin Preet Singh, co-founder, MD and CEO, One MobiKwik, said, "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.' The development marks a strategic step in MobiKwik's evolution from a digital payments firm into a full-stack fintech platform. The company now caters to over 176.4 million users and 4.6 million merchants, with growing verticals in credit and wealth distribution. Its wealth offerings include Mutual Funds, SIPs, FDs, Digital Gold, and This is MobiKwik Group's second major regulatory milestone this quarter. In April, its subsidiary Zaak ePayment Services received RBI authorisation to operate as an Online Payment Aggregator. The Sebi approval is expected to accelerate MobiKwik's expansion into capital markets and strengthen its position as a comprehensive fintech player. About One MobiKwik One MobiKwik Systems Ltd. is among India's leading digital financial services platforms, offering a comprehensive suite of payment and financial products for both consumers and merchants. Founded in 2009 by Bipin Preet Singh and Upasana Taku, MobiKwik has grown to serve over 176.4 million registered users and 4.6 million merchants. The company's core offerings include the MobiKwik Wallet, UPI, Pocket UPI, and Zaakpay, its integrated payment gateway. Beyond payments, MobiKwik has expanded into financial services, providing credit solutions such as ZIP and ZIP EMI, as well as savings and investment products like Fixed Deposits, Mutual Funds, Digital Gold, and Insurance offerings are also available on its platform, reinforcing MobiKwik's position as a diversified fintech player.
&w=3840&q=100)
Business Standard
03-07-2025
- 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
03-07-2025
- 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.'
Time of India
03-07-2025
- Business
- Time of India
MobiKwik arm gets Sebi nod to operate as stock broker
One MobiKwik Systems broking arm, Mobikwik Securities Broking Private Limited (MSBPL), has received regulatory approval from the Securities and Exchange Board of India ( Sebi ) to act as a stockbroker/clearing member. One MobiKwik Systems wholly-owned subsidiary will now be able to carry on the activities of buying, selling, dealing, clearing and settlement of equity trades. In an exchange filing on Thursday, Mobikwik Securities said that it received Sebi's certificate of registration on Tuesday, July 1. The announcement positively triggered the stock price as One MobiKwik Systems shares jumped nearly 4% to hit the day's high of Rs 250.80 on the NSE. Aslo read: Rs 9,300 crore stake! NSE IPO to unlock massive value for billionaire Radhakishan Damani Live Events Since its inception, MobiKwik has transformed from a digital payments company into a diverse fintech platform. The company operates a consumer payments business with a network of over 17.64 crore users and 46 lakh merchants. The company filing claimed that 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 Commenting on the development, MobiKwik's Co-founder, MD & CEO Bipin Preet Singh said that the license will strategically position MobiKwik to accelerate growth in its wealth distribution vertical and broaden its offerings throughout the capital markets ecosystem. This will reinforce its transformation into a comprehensive fintech platform, he added. This marks MobiKwik Group's second certificate during the current quarter. 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. ETMarkets WhatsApp channel )
Time of India
13-06-2025
- Business
- Time of India
Centre's no MDR stance derails fintech's UPI monetisation plans
Live Events The Ministry of Finance's clarification that there was no plan to reintroduce the merchant discount rate (MDR) on payments done via Unified Payments Interface has dampened the monetisation plans that payment firms had around the popular payment of listed payment firms fell Thursday, a day after the ministry said speculations about the return of the fee for processing UPI payments were 'completely false, baseless and misleading'. One 97 Communications , which runs the payment platform Paytm , closed 6.8% lower at Rs 895.15 on the BSE. One Mobikwik Systems, which operates the Mobikwik application, ended 2.6% down at Rs 274.15.'It will be business as usual since we have been operating without MDR for a few years now. But there was hope in the industry that MDR would be brought back at least for big-ticket transactions; now that is gone,' the chief executive of a major payment processor said on the condition of anonymity.A senior banker who leads the payments function at a private sector lender pointed out that once the government has got the merchant ecosystem used to free digital payments, bringing back the system was always going to be a the last two months, the industry circle was abuzz with conversations around the government seriously considering bringing back MDR, but only for large purchases.'Obviously, we do not know much, and we will not like to predict how the government is looking at it, but we definitely see talks of MDR coming on UPI,' Paytm chief executive Vijay Shekhar Sharma said during the company's FY25 analyst call. He said it could help in building monetisation opportunities from the core payments business for firms like insiders also pointed out that fintech firms have been encouraging customers to move to instruments like mobile wallets or prepaid payment instruments (PPIs) and credit cards, which are MDR generating instruments.'MDR on PPI-UPI, something that is already in motion from the RBI and it is under discussion in the payments ecosystem across multiple industry players and should go live soon. From our perspective, it will definitely bring a new source of revenue, which today we are not getting,' Mobikwik cofounder Bipin Preet Singh said during the FY25 analyst listed firms were talking about projected revenue opportunities, the ministry clarification on MDR could have an impact on fintech IPOs lined up for the coming reported on May 19 that PhonePe gets 95% of its revenue from digital payments and UPI payments is a core aspect of that business. The company is in the process of filing for an IPO in the second half of the current year. Merchant payments company Pine Labs, which is set to file its draft IPO papers this month, gets a significant share of payments via UPI. For Razorpay, another company planning to go public by 2026, UPI accounts for a significant chunk of business.'We have seen almost all forms of innovation and new investments stop in the core payments business. There was hope in the industry that some of it would come back, but it seems that is also gone,' said the founder of another payments firm.
