One Mobikwik Systems announced that it has incorporated a wholly owned subsidiary (WOS), Mobikwik Securities Broking (MSBPL), to operate in the securities broking business.
According to the company, the primary objective of MSBPL is to engage in the business of dealing in shares, stocks, securities, debt instruments, commodities, currencies, and their derivatives. The subsidiary will also act as a stock and commodity broker by acquiring membership with various stock and commodity exchanges, both in India and internationally.The initial paid-up share capital for MSBPL is Rs 1 lakh. The company plans to infuse an additional Rs 2 crore in one or more tranches to support the subsidiary's growth.
The parent company, One Mobikwik Systems, will hold a 100% stake in the newly incorporated entity. The Ministry of Corporate Affairs, Central Processing Centre granted approval for the incorporation of Mobikwik Securities Broking on 03 March 2025.
MSBPL, a wholly owned subsidiary, will fall within the purview of related party transactions.
One MobiKwik Systems (MobiKwik) is Indias largest digital wallet that offers a wide range of payments.
Also Read
 "Prince Harry")
 "Randhir Jaiswal")
 "Tejas")
 "Adani Group")
 "SBI, State Bank Of India")
The company reported consolidated net loss of Rs 55.28 crore in Q3 FY25 as compared with net profit of Rs 5.27 crore posted in Q3 FY24. However, revenue from operations jumped 17.7% YoY to Rs 269.48 crore in the quarter ended 31 December 2024.
The scrip dropped 4.14% to settle at Rs 304.50 on the BSE.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
