About five months after starting its NBFC business, MobiKwik’s board approved an investment of INR 9.99 crore in its NBFC unit, Mobikwik Financial Services Pvt Ltd (MFSPL). The investment will be made in one or more parts by October 10.
MobiKwik said the money will help grow its NBFC operations, including leasing and hire-purchase deals for things like machinery, equipment, vehicles, ships, aircraft, factories, and real estate.
MobiKwik started its NBFC subsidiary on April 23 with an initial capital of ₹1 lakh. However, it has not applied for an NBFC licence, and it’s not clear if MFSPL is currently a licensed NBFC.
Before starting its own NBFC, MobiKwik worked with banks and other NBFCs to provide loans and credit cards.
By having its own NBFC, the company now gets more control over lending, a new source of revenue from interest income, and greater opportunities to cross-sell other products.
Last month, the Abu Dhabi Investment Authority (ADIA) sold its entire 2.1% stake in One MobiKwik Systems for INR 39.21 crore at an average price of ₹238.45 per share. The major buyers were BofA Securities Europe and SI Investments, who together picked up 9 lakh shares (1.15% stake) for INR 22.12 crore at prices between ₹243.61 and ₹248.42 per share.
In Q1 FY26, MobiKwik’s net loss jumped over six times to INR 41.9 crore, compared to ₹6.6 crore in the same quarter last year.
The company’s operating revenue dropped 20.7% year-on-year to INR 271.3 crore. The main reason was a sharp slowdown in its financial services business, where revenue fell by 65% YoY, from INR 170.7 crore to INR 58.3 crore.
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