One Mobikwik Systems Approves Alterations to MOA and Slump Sale of LSP Business
One Mobikwik Systems Limited, the payment technology company, announced significant corporate decisions following its Board meeting on May 22, 2026. The Board considered and approved several major actions, including an alteration to the company’s Memorandum of Association (MOA), the slump sale of its Lending Services Provider (LSP) business, and variations concerning the utilization of Initial Public Offering (IPO) proceeds.The Board approved the amendment to the object clause of the MOA to incorporate the activity of operating as a Payment Aggregator. This change is tied to the company’s efforts to obtain a Certificate of Authorisation to operate as a Payment Aggregator - Physical Point of Sale under RBI Master Directions.
Slump Sale of Lending Services Provider Business
The most material corporate action approved was the sale and transfer of the Company's Lending Services Provider (LSP) business. This financial services division will be moved through a slump sale basis to MobiKwik Distribution Services Private Limited (MDSPL), a wholly owned subsidiary of One Mobikwik Systems Limited.The Company stated that the rationale for this slump sale is that it is a pre-condition required by the Board’s subsidiary, Mobikwik Financial Services Private Limited, to obtain a Certificate of Registration (COR) for NBFC Business from the RBI.
The transaction, which is being conducted via a Business Transfer Agreement (BTA), is expected to be completed by the end of the second quarter of Fiscal Year 2026 - 27, subject to customary conditions.
The financial details pertaining to the LSP business and the transaction are detailed below:
| Detail | Value/Status | Key Metric |
|---|---|---|
| LSP Business Revenue (FY 2025-2026) | INR 2,613.75 million | Represents 22.70% of the Company's standalone Revenue. |
| LSP Business Net-worth (as on March 31, 2026) | INR 952.21 million | Represents 16.94% of the Company's standalone Net-worth. |
| Buyer of LSP Business | MobiKwik Distribution Services Private Limited (MDSPL) | MDSPL is a wholly owned subsidiary of the Company. |
| Consideration Basis | Issuance of Non-Convertible Debentures by MDSPL | Based on the book value of assets and liabilities (INR 952.21 million) as on March 31, 2026. |
| Expected Disposal Completion | End of the second quarter of FY 2026 - 27 | Subject to prior shareholder consent and BTA terms. |
One Mobikwik Systems noted that the consideration for the proposed transfer is based on the book value, ensuring the transaction remains at arm's length, despite MDSPL being a related party.
The Board also approved considerations related to the variation in the objects and terms of utilization, and the extension of time limits for the use of Initial Public Offering (IPO) proceeds. Details concerning these matters are set to be shared when the Notice of Postal Ballot is issued.
MOBIKWIK Stock Price Movement
Shares of One Mobikwik Systems Limited are edging higher to ₹195.12 as of 2:06 PM today, rallying 1.08% in live trading. The gain is supported by strong market interest, highlighted by 1.79 million shares being traded in the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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