Fintech company Mobikwik has received permission from SEBI (India’s market regulator) to work as a stockbroker.
This approval was given to its fully owned company called Mobikwik Securities Broking Private Limited (MSBPL), which will also act as a clearing member.
SEBI granted approval under the Securities and Exchange Board of India (SEBI) Regulations, 1992. This allows MSBPL to help customers buy and sell stocks and manage their trading transactions.
MSBPL can also handle the clearing and settlement of trades and may take on other approved jobs by the stock exchange.
MSBPL was set up in March 2025, marking Mobikwik’s official entry into the stock market business.
With this step, MobiKwik joins a competitive space with big players like Groww, Zerodha, AngelOne, Upstox, and ICICI Direct, where Groww currently has the highest number of active users.
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 move shows Mobikwik’s plan to grow beyond just digital payments and enter new financial services.
Along with starting MSBPL, Mobikwik also launched a non-banking financial company (NBFC) and got approval from the RBI for its other company, Zaakpay, to work as a payment aggregator.
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