One Mobikwik Systems Ltd, formerly known as One Mobikwik Systems Private Limited, was incorporated in New Delhi on March 20, 2008, as a Private Limited Company. The company later converted into a Public Limited Company, with its name changed to One Mobikwik Systems Limited vide a fresh Certificate of Incorporation dated June 25, 2021. Its shares got listed on BSE and NSE on December 18, 2024.
OMSL operates a tech-first, application-based business that provides payments and digital financial services to consumers and merchants through its MobiKwik platform. This platform business features a two-sided payments network, connecting consumers and merchants. It has successfully acquired 161.03 million Registered Users and enabled 4.26 million Merchants to make and accept payments online and offline.
The company has built a comprehensive digital ecosystem that serves both consumers and merchants. For consumers, the MobiKwik app offers various payment options alongside financial products, including digital credit, investments, and insurance solutions. The company's product portfolio includes services such as online checkout for e-commerce merchants, "Scan and Pay" with Kwik QR, MobiKwik Vibe (a soundbox solution), the MobiKwik EDC machine, and Merchant Cash Advance.
MobiKwik offers payment services for:
- Consumers: Recharge and bill payments (mobile recharges, electricity bills, FASTags, credit card bills, etc.), online e-commerce transactions, offline merchant payments (organised retail, fuel pumps), and money transfers to any phone number, contact, UPI ID, or bank account.
- Merchants: Online checkout for e-commerce merchants to accept payments, Kwik QRs for scan-and-pay at retail partners, MobiKwik Vibe (QR-enabled payment announcement device), MobiKwik EDC Machine (point-of-sale device), and merchant cash advance credit products.
MobiKwik's innovative product lineup includes:
- Pocket UPI: Enables UPI payments through MobiKwik Wallet without linking a bank account.
- MobiKwik ZIP: A pay-later product offering a 30-day interest-free credit line.
- ZIP EMI: A personal loan repayable in instalments.
- Co-branded Credit Cards: Backed by fixed deposits.
- Lens: A personal financial management product utilising bank data.
- Xtra: A peer-to-peer lending product.
- Fixed Deposits: With RBI-registered NBFCs and banks.
- Mutual Funds and Digital Gold: Distribution services.
One Mobikwik Systems Ltd currently has a Market Capitalization of ₹1,888.78 Crore (as of July 3, 2025).
- Market Cap (as of July 3, 2025): ₹1,888.78 Crore
- 52-week High: ₹698.30
- 52-week Low: ₹227.25
- P/E Ratio: -15.54
- P/B Ratio: 11.62 (Stock trading at 3.67 times its book value based on older data)
- Revenue from Operations:
- FY22: ₹526.56 Crore
- FY23: ₹539.47 Crore
- FY24: ₹875.00 Crore
- Overall Financial Performance:
- FY24: Profit of ₹14.08 Crore on a total income of ₹875.00 Crore.
- Q1 FY25: Loss of ₹-56.04 Crore on a total income of ₹278.52 Crore.
- FY25 (partial data): Significant loss of ₹122 crore due to declining financial services, despite 203% growth in payments GMV.
- Promoter Holding: 25.2%
- Financial Health Indicators: Company has a low interest coverage ratio.
MobiKwik has strategically evolved from a payments-focused business into a multi-product platform offering comprehensive financial services. The company continuously adds new products to its digital credit, investments, and insurance verticals. By consolidating and analysing consumer financial data through advanced analytics and machine learning, MobiKwik provides personalised financial solutions tailored to individual behaviour, capabilities, and aspirations.
The company has established strategic partnerships to expand its offerings, collaborating with several leading lending partners including:
- Unity Small Finance Bank
- TVS Credit Services
- Hero Fincorp
- Poonawalla Fincorp
- SMFG India Credit (formerly Fullerton India)
- Suryoday Small Finance Bank
- Northern Arc Capital
- MyShubhLife
- Krazybee Services
- Vivriti Capital
- Transactree Technologies
MobiKwik continues to demonstrate strong growth in its user base:
- KYC-completed users (as of June 30, 2024): Over 70.88 million, primarily acquired through the MobiKwik Wallet.
- Registered users CAGR (March 31, 2022 to March 31, 2024): 12.31%, growing from 123.56 million to 155.84 million.
- Unique merchants for MobiKwik ZIP users (March 31, 2022 to March 31, 2024): Increased from 20,671 to 32,898.
- June 18, 2025: MobiKwik shares dropped over 6% following the conclusion of the mandatory six-month lock-in period for pre-IPO shareholders, making 3.8 crore shares eligible for trading. The stock has seen a significant decline from its post-listing peak.
- FY25 Performance Highlights: MobiKwik reported 203% Payments GMV growth to ₹1.16 Trillion, an EBITDA loss, ongoing AI initiatives, and Zaakpay RBI approval. The company anticipates recovery in H2 FY26, with a focus on new product launches.
The key management includes Upasana Rupkrishan Taku as Chairman and Ankita Sharma as the Company Secretary. The company's promoters are Bipin Preet Singh, Upasana Rupkrishan Taku, Koshur Family Trust, and Narinder Singh Family Trust.
One MobiKwik Systems Ltd (MOBIKWIK) operates in the Financials sector, specifically within the Payment Infrastructure sub-sector. According to its Red Herring Prospectus (RHP), One 97 Communications Limited (Paytm) is identified as its only listed peer.
India's consumer internet economy is projected to surpass USD 600 billion by FY28, driven by sectors like online retail, edtech, fintech, gaming, and travel. This expanding digital landscape presents a significant growth opportunity for digital payment platforms like MobiKwik to tap into a growing user base. The company continues to focus on expanding its digital payments ecosystem while diversifying into financial services, positioning itself as a comprehensive fintech platform in India's rapidly growing digital economy.
