One Mobikwik Systems Ltd.MOBIKWIK₹247.57 +2.44%

Shares of One Mobikwik Systems Ltd. surged, reaching an intraday high of ₹250.80, after its wholly-owned subsidiary, MobiKwik Securities Broking Private Limited (MSBPL), received approval from the Securities and Exchange Board of India (SEBI) to operate as a stockbroker and clearing member.

The SEBI registration, granted on July 1, allows MSBPL to undertake equity trade activities, including buying, selling, clearing, and settlement. This move bolsters MobiKwik’s growing wealth distribution vertical, which already offers products such as mutual funds, fixed deposits, SIPs, digital gold, and Lens.Ai.

MobiKwik, originally known for its digital wallet and payments ecosystem, now serves over 176.4 million users and 4.6 million merchants. The broking license is part of the company’s broader strategy to evolve into a full-stack fintech platform.

With this latest approval, MobiKwik is aiming to deepen its footprint across digital financial services and broaden its reach in the Indian capital markets ecosystem.

Note: The stock price mentioned is as of 3:30 PM.

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PhonePe Wealth Broking Private Limited is a member of NSE & BSE with SEBI Regn. No.: INZ000302639, Depository Participant of CDSL Depository with SEBI Regn. No.: IN-DP-696-2022, Research Analyst with SEBI Regn No: INH000013387, BSE RA Enlistment Number: 5887, and Mutual Fund distributor with AMFI Registration No: ARN- 187821. Member ID: BSE- 6756, NSE- 90226. 

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