MobiKwik Enters Stock Broking Business

Key Updates • Subsidiary MSBPL received BSE approval to commence stock broking from Feb 24, 2026 • SEBI had granted stock broking registration in July 2025 • Authorized to execute equity buying, selling, dealing, clearing & settlement on BSE • Strategic expansion into financial services to simplify investing for retail users Business Snapshot • Founded in 2009 • 186.6+ million registered users • 4.79 million merchants • 18% market share in PPI wallet GTV (as of Dec 2025) Why It Matters Entering stock broking strengthens MobiKwik’s fintech ecosystem and enhances cross-selling opportunities across payments and investments. Learning Outcome Platform companies expanding into adjacent financial services can improve customer lifetime value and revenue diversification. Investors should assess regulatory approvals, ecosystem strength, and monetization potential.