One MobiKwik Systems share price rallied over 16% on Monday, 27 April, after it announced the Reserve Bank of India’s (RBI) approval to launch a non-banking finance company (NBFC).
The stock opened at ₹205.15 apiece today, as compared to the previous close of ₹202.22 on Friday last week, and hit the day’s high of ₹241.90 on the BSE. The sharp spike likely reflects investor optimism about potential new revenue streams and growth opportunities.
Mobikwik gets RBI approval for NBFC
In an exchange filing this afternoon, Mobikwik said that the NBFC licence will facilitate the launch of a new lending arm, MobiKwik Financial Services Private Limited (MFSPL), a wholly owned subsidiary.
This move will strengthen the company’s regulated lending capabilities, enable the creation of innovative credit products, and allow it to cater to a wider base of consumers and merchants with improved efficiency and control, according to the filing.
The development is in line with the Group’s long-term vision of building a full-stack fintech platform offering accessible, responsible, and technology-driven financial solutions.
The NBFC framework will enable MobiKwik to harness its technological strengths, including AI and ML models, along with its extensive user base, to offer tailored financial products that meet varied consumer needs, the company said
While the primary focus will be on Tier 2 and Tier 3 cities, the services will be expanded nationwide, tapping into India’s broad geographic potential. This approach aims to promote financial inclusion in underserved regions, enhancing access to credit and boosting the adoption of financial services, it added.
“The NBFC application approval is a pivotal step in MobiKwik Group’s evolution into a scaled financial services platform. We are especially happy that the application has been approved in under four months, which is an endorsement of the credibility of the Group, and we are grateful to the RBI for reposing its faith in us. This gives us the regulatory framework to deepen our credit offerings while maintaining strong governance and risk discipline. We will continue to responsibly serve the credit needs of Bharat and build products that genuinely improve financial inclusion,” said Upasana Taku, Executive Director, Co-founder & CFO at MobiKwik.
Mobikwik share price trend
Mobikwik share price has remained positive in the near term despite weakness in the Indian stock market. The stock has delivered returns of up to 18% in a week and 40% in a month.
The stock, which got listed in December 2024, has given over 3% gains in terms of year-to-date (YTD) basis; however, it has declined 10.29% in a year.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
