Gurugram | July 3, 2025 — In a major step towards broadening its financial services play, fintech player Mobikwik has secured a green light from the Securities and Exchange Board of India (SEBI) to operate as a stockbroker and clearing member. This approval has been granted to its newly launched subsidiary, Mobikwik Securities Broking Private Limited (MSBPL).
With this regulatory nod under SEBI’s Stock Broker Regulations, 1992, Mobikwik can now facilitate buying, selling, and dealing in securities for its clients. Additionally, MSBPL is authorized to handle clearing and settlement of trades, along with other activities permitted by the exchanges.
The move marks Mobikwik’s official entry into India’s bustling capital markets space, with the company having incorporated MSBPL just a few months ago, in March 2025. This puts Mobikwik in direct competition with leading online broking platforms like Groww, Zerodha, AngelOne, Upstox, and ICICI Direct — with Groww currently holding the top spot in terms of active users.
Speaking on the development, industry observers noted that this expansion reflects Mobikwik’s ongoing evolution from a pure-play digital payments company to a more holistic fintech ecosystem.
In recent months, the company has made a series of bold moves to strengthen its financial services portfolio. It has launched a non-banking financial company (NBFC) to focus on credit, and its payments arm Zaakpay also received approval from the Reserve Bank of India (RBI) to operate as a payment aggregator.
By tapping into stock broking and capital markets, Mobikwik is aiming to offer a more comprehensive suite of financial tools to its growing user base — a strategy that aligns with the broader trend of super apps consolidating payments, investing, credit, and insurance under one digital roof.
With competition heating up, all eyes will be on how Mobikwik leverages its tech-first approach to carve out a space in the already crowded — but rapidly growing — online investing landscape.
-by Bhumika Rawat, Section Editor
