Mobikwik Securities Broking Pvt Ltd (MSBPL), a wholly owned subsidiary of One MobiKwik Systems Ltd. (MobiKwik), has received approval from the BSE Ltd to commence its stock broking business.
BSE has enabled MSBPL on its platform with effect from February 24, 2026. The approval follows the grant of stock broking registration to MSBPL by the Securities and Exchange Board of India in July 2025.
With the latest nod in place, MSBPL is now authorised to begin broking operations on the BSE platform, allowing it to undertake buying, selling, dealing, clearing and settlement of equity trades. The development marks the completion of key regulatory steps required to operationalise its stock broking business.
“The approval by BSE to commence our stock broking business on its platform is a pivotal step in MobiKwik’s evolution into a scaled financial services platform,” said MobiKwik Executive Director, Co-founder and Chief Financial Officer Upasana Taku.
“India has witnessed incredible growth in retail investor participation, and we believe our platform can help demystify investing for users taking their first steps into the markets. We will continue to responsibly serve the financial needs of Bharat and build products that genuinely improve financial inclusion,” she added.
Founded in 2009 by Bipin Preet Singh and Upasana Taku, MobiKwik operates one of India’s largest digital wallets, offering a range of payments and financial products to consumers and merchants. Its portfolio includes MobiKwik Wallet, UPI, Pocket UPI and Zaakpay (payment gateway), serving 186.6 million registered users and 4.79 million merchants.
The company has also expanded into the distribution of financial products such as ZIP EMI and merchant cash advances (MCA), along with savings and investment offerings including fixed deposits, mutual funds, digital gold and Lens.AI.
According to the RedSeer Report, as of FY23, MobiKwik had the fourth-highest user base in India by total registered users and was among the leading digital financial product and services platforms in the country. As of December 2025, it held an 18% market share of the prepaid payment instrument (PPI) wallet gross transaction value (GTV).