Archive · 18 Aug 2026
MobiKwik Completes Lending Transfer to Subsidiary MDSPL, Appoints CBO
MobiKwik is a big company in India that helps people pay with their phones and borrow money.
Recently, it moved its money-lending business into a separate company it fully owns, called MDSPL.
India's central bank, the RBI, asked MobiKwik to do this as part of getting a special banking license.
The company also hired a new leader, Manish Pathania, to run its lending business, and he has lots of experience in that area.
MobiKwik wants to lend more than 1,000 crore rupees every few months.
Earlier, the company was losing money, but now it is making a small profit, which is a good sign.
About 19.3 crore people already use MobiKwik's services.
This change helps the company follow the rules and keep growing.
MobiKwik completed the transfer of its digital lending (LSP) business to its wholly-owned subsidiary MobiKwik Distribution Services Private Limited (MDSPL) on a slump sale basis.
Manish Pathania, formerly of Bajaj Markets, was appointed Chief Business Officer (CBO) of MDSPL.
The transfer follows the RBI's April 2026 approval of the group's NBFC application, which required the LSP business to be migrated to a separate subsidiary before the Certificate of Registration is issued.
MobiKwik expects to achieve quarterly disbursals of over Rs 1,000 crore, driven by AI-led growth initiatives and new lender partnerships.
MobiKwik reported a Q1 FY27 consolidated profit of Rs 7.6 crore, versus a net loss of Rs 41.92 crore a year earlier, with revenue up 3.7% to Rs 281.48 crore.
- Who
- Fintech firm One MobiKwik Systems (MobiKwik) and its wholly-owned subsidiary MobiKwik Distribution Services Private Limited (MDSPL), with Manish Pathania appointed as MDSPL's Chief Business Officer.
- What
- MobiKwik completed the transfer of its digital lending (LSP) business to MDSPL on a slump sale basis and appointed Manish Pathania as CBO of the subsidiary.
- When
- Announced on August 18, 2026, following shareholder approval on July 2 and an RBI condition set in April 2026.
- Where
- India; the announcement was made from New Delhi.
- Why
- To meet the Reserve Bank of India's requirement for migrating the LSP business to a separate subsidiary before the Certificate of Registration for the group's NBFC application is issued, and to build a more integrated, regulated lending platform.
- Company
- One MobiKwik Systems (MobiKwik)
- Subsidiary
- MobiKwik Distribution Services Private Limited (MDSPL)
- New CBO
- Manish Pathania (formerly of Bajaj Markets)
- Transfer basis
- Slump sale; consideration via NCDs issued by MDSPL based on book value as of August 18, 2026
- Regulatory driver
- RBI condition in April 2026 NBFC approval requiring LSP migration before Certificate of Registration
- Equity infused into MDSPL
- Rs 60.85 crore
- Q1 FY27 financials
- Consolidated profit of Rs 7.6 crore (vs Rs 41.92 crore loss in Q1 FY26); revenue of Rs 281.48 crore, up 3.7%
- Business metrics
- 19.3 crore registered users; 50.2 lakh merchants; 19% wallet market share by gross transaction value as of June 2026; target of over Rs 1,000 crore quarterly disbursals