One Mobikwik Systems Limited Board Approves MOA Amendment & LSP Business Slump Sale
One Mobikwik Systems Limited's board approved amending its MOA to operate as a Payment Aggregator and the slump sale of its LSP business to subsidiary MDSPL. The LSP business generated ₹261.375 crore revenue in FY26. Sale completion is expected by Q2 FY27. This is a prerequisite for an NBFC license.
The sale of the LSP business and the MOA amendment are strategic moves that align the company with regulatory requirements for payment aggregation and NBFC operations. These changes are crucial for future business development and compliance, impacting the company's operational structure and strategic direction.
The announcement details significant corporate actions including an MOA amendment and a business sale, which are routine for regulatory compliance and strategic restructuring. While these actions are important for future growth and regulatory adherence, they do not inherently signal immediate positive or negative financial performance.
One Mobikwik Systems Limited announced on May 22, 2026, that its Board of Directors, following the recommendation of the Audit Committee, approved key business decisions during a meeting held from 11:30 AM to 1:40 PM. These approvals are subject to shareholder consent.
The first major approval is the alteration of the object clause in the Memorandum of Association (MOA). This amendment is necessary to include the activity of operating as a Payment Aggregator, a requirement for obtaining a Certificate of Authorisation under the RBI Master Directions on Payment Aggregators.
Secondly, the Board approved the sale and transfer of the company's Lending Services Provider (LSP) business, which is part of its financial services operations. This transfer will be conducted on a slump sale basis to MobiKwik Distribution Services Private Limited (MDSPL), a wholly-owned subsidiary.
The LSP business contributed INR 2,613.75 million (₹261.375 crore) in revenue for FY 2025-2026, representing 22.70% of the company's standalone revenue. Its net worth as of March 31, 2026, was INR 952.21 million (₹95.22 crore), accounting for 16.94% of the company's standalone net worth.
The slump sale agreement (BTA) is to be executed in due course. The completion of this sale is anticipated by the end of the second quarter of FY 2026-27, contingent upon shareholder approval and other customary conditions. The consideration for the sale will be discharged through the issuance of Non-Convertible Debentures by MDSPL to One Mobikwik Systems Limited, based on the book value of the LSP business's assets and liabilities as of the appointed date.
The rationale for this slump sale is to fulfill a pre-condition for MobiKwik Financial Services Private Limited (a wholly-owned subsidiary) to obtain a Certificate of Registration (COR) for NBFC Business from the RBI. The LSP business is being transferred to MDSPL to facilitate this process. It is noted that this transaction is a related-party transaction as MDSPL is a wholly-owned subsidiary, but it will be conducted at arm's length based on the book value of assets and liabilities.
Furthermore, the Board also approved variations in the objects and terms for the utilization of Initial Public Offering (IPO) proceeds, along with an extension of time limits for their utilization. The company will issue a notice for Postal Ballot to obtain shareholder approval for these matters.
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One Mobikwik Systems Limited filed this with the NSE as a statutory disclosure, categorised under other corporate actions. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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