Fintech powerhouse One MobiKwik Systems Ltd saw its shares surge as much as 12.6% in early trade on Tuesday, February 24, 2026. The rally was triggered by a major regulatory milestone: the company’s wholly-owned subsidiary, MobiKwik Securities Broking Private Limited (MSBPL), has received final approval from the Bombay Stock Exchange (BSE) to commence its stock broking operations. This activation, effective today, marks the formal entry of MobiKwik into India’s competitive equity trading landscape.
The BSE’s green light follows a successful SEBI registration granted to the subsidiary in July 2025. With this final clearance, MobiKwik is now authorized to facilitate the buying, selling, and dealing of equities, along with handling the critical clearing and settlement of trades. The move is a cornerstone of the company’s “Bharat-first” strategy, aimed at demystifying complex investments for millions of retail users across the country.
The stock rally isn’t just a reaction to the new license; it is supported by a significant recovery in MobiKwik’s bottom line. For the December quarter (Q3 FY26), the company reported a consolidated net profit of ₹4 crore, a sharp reversal from the ₹55.2 crore loss reported in the same period last year.
Other key financial highlights for the quarter include:
- Revenue Growth: Quarterly revenue rose 7.4% year-on-year to ₹289 crore, driven by a massive spike in UPI and credit transactions.
- Operational Profitability: The company achieved an EBITDA of ₹6.8 crore, reflecting a 2.4% margin, compared to a heavy EBITDA loss in the previous fiscal year.
- GMV Milestone: Payments Gross Merchandise Value (GMV) hit an all-time high of ₹48,100 crore, with UPI transactions growing 3.2 times YoY.
By integrating stock broking into its existing ecosystem of 186.6 million registered users and 4.79 million merchants, MobiKwik is evolving into a comprehensive “full-stack” financial services platform. The new broking arm will compete directly with established players like Zerodha and Groww, leveraging its massive existing user base to lower customer acquisition costs.
“The approval from BSE is a pivotal step in our evolution,” said Upasana Taku, Co-founder and CFO of MobiKwik. She emphasized that the platform will focus on improving financial inclusion by building products that simplify capital market access for the “untapped populace of Bharat.” This expansion into equities joins MobiKwik’s existing wealth suite, which includes mutual funds, SIPs, fixed deposits, and the AI-powered investment tool Lens.Ai.
Despite the recent intraday high of ₹227.37, the stock remains a “recovery play” for many, as it still trades below its December 2024 listing price of ₹440. However, the combination of a new revenue vertical and sustained quarterly profitability has clearly shifted market sentiment back in the company’s favor.
Key Highlights:
- Regulatory Milestone: MobiKwik’s subsidiary, MSBPL, received BSE approval to start stock broking operations effective February 24, 2026, following its 2025 SEBI registration.
- Stock Performance: Shares of One MobiKwik Systems rallied over 12% intraday, reaching a high of ₹227.37 as investors reacted to the expansion news.
- Return to Profit: The news coincides with a strong Q3 FY26 performance, where MobiKwik turned profitable with a net profit of ₹4 crore and record GMV of ₹48,100 crore.
- Full-Stack Vision: The entry into equity trading allows MobiKwik to offer a complete suite of financial products, including payments, credit, and now stock broking, to its 186 million users.