SUMMARY
Mobikwik gets BSE approval: Mobikwik has received BSE approval to start its stock broking business through MSBPL, enabling full-scale equity trading operations. The company also reported a ₹4 crore profit in Q3 FY26, reversing a loss of ₹55.2 crore last year. Despite financial improvement, the Mobikwik share price remains down, falling 12% YTD. The stockbroking launch is expected to strengthen Mobikwik’s presence in India’s digital financial ecosystem.
In a major development for India’s fintech industry, Mobikwik has officially secured approval from the Bombay Stock Exchange (BSE) to launch its stock broking operations. The green signal comes at a time when the company is witnessing a financial turnaround, strong operational improvements, and increasing participation from digital investors across the country.
For investors and users of Mobikwik, this new step opens the door to a more integrated digital financial ecosystem, combining payments, credit, and now—stock market investing.
BSE Approves Mobikwik’s Entry into Stock Broking
Mobikwik’s subsidiary, MobiKwik Systems Broking Pvt. Ltd. (MSBPL), has received BSE activation as of February 24, 2026. This means the company can now legally operate as a stock broker on the exchange.
What This Approval Allows Mobikwik to Do
The company is now permitted to begin:
- Buying and selling of equity shares
- Clearing and settlement of trades
- Brokerage services for retail investors
- Equity dealing operations on BSE
This approval comes after the company received its SEBI stockbroking licence in July 2025. Together, these permissions complete the compliance framework required for full-scale broking services.
Why This Is Big for Retail Investors: Mobikwik Gets BSE Approval
India has seen a massive rise in retail investor participation, especially through mobile apps. With Mobikwik’s entry:
- More users will have access to simple and affordable investing tools
- Mobikwik can cross-sell financial products to its existing wallet and BNPL users
- Competition will likely bring better pricing and lower brokerage fees
Leadership Reaction
Upasana Taku, Co-founder & CFO, expressed:
“The BSE approval is a pivotal step in Mobikwik’s evolution into a scaled financial services platform. We want to demystify investing and help first-time market participants across Bharat.”
Her statement underscores the company’s long-term strategy — capturing India’s next 100 million investors.
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Mobikwik Q3 Results 2026: Turnaround After Years of Losses
Mobikwik’s financial performance in Q3 FY26 shows a remarkable recovery. The company moved from deep losses to profitability, supported by disciplined cost management and improved operating metrics.
Mobikwik Q3 FY26 Highlights (Table)
| Metric | Q3 FY26 | Q3 FY25 | Change |
|---|---|---|---|
| Net Profit | ₹4 crore | -₹55.2 crore | Major turnaround |
| Revenue | ₹289 crore | ₹269.4 crore | +7.4% YoY |
| EBITDA | ₹6.8 crore | -₹47.6 crore | Positive shift |
| EBITDA Margin | 2.4% | Negative last year | Improved |
Key Takeaways from Q3 Results
- Profit after several loss-making quarters
- Revenue growth despite competitive fintech market
- EBITDA moved from heavy loss to positive territory
- Improved cost efficiency and strong user engagement
Management’s View on Profitability
According to Taku:
“We achieved profitability in H2 FY26 as committed. Our strategy of thoughtful scaling and operational discipline is working.”
This messaging reinforces investor confidence in the company’s long-term financial stability.
How Stock Broking Expansion Fits Into Mobikwik’s Strategy
Mobikwik already provides a wide suite of services:
- Digital wallet
- UPI payments
- Buy Now Pay Later (BNPL)
- Personal loans
- Insurance products
- Payment gateway solutions
Adding stock broking creates a one-stop financial ecosystem, allowing users to:
- Pay
- Save
- Borrow
- Invest — all within one app
This vertical integration mirrors global fintech models, giving Mobikwik a competitive advantage against established players like Zerodha, Groww, and Paytm Money.
Mobikwik Share Price Trend: Stock Still in Red Despite Positive News
Even with operational improvements, the Mobikwik share price has been under pressure in the equity market.
Mobikwik Share Price Performance Overview
| Time Period | Change |
|---|---|
| Past 5 sessions | -5% |
| Past 6 months | -11% |
| YTD 2026 | -12.11% |
| Last 1 year | -35% |
| Since December 2024 listing | -58.56% |
Read Also: IBM Stock Crashes 13.2% After Anthropic’s Claude Code Update: Biggest One-Day Fall Since 2000
Why Is the Stock Falling Despite Profitability?
Several reasons contribute:
- Market-wide volatility
- Investor caution around fintech stocks
- High competition in digital financial services
- Concerns around long-term sustainable profitability
However, analysts believe the BSE stock broking approval could serve as a positive trigger for long-term valuation.
Impact on the Indian Fintech Landscape
Mobikwik’s move marks another milestone for India’s fast-growing fintech sector.
Key impacts include:
- More competition in discount broking
- Better pricing and service innovation for retail investors
- Greater digital adoption in Tier-2 and Tier-3 markets
- Potential boost in financial inclusion, aligning with India’s digital economy goals
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