Divestment22 May 2026, 01:57 pm
One Mobikwik: LSP Business Sale to Subsidiary Approved
AI Summary
One Mobikwik Systems Ltd's board approved the sale and transfer of its Lending Services Provider (LSP) business to MobiKwik Distribution Services Private Limited, a wholly-owned subsidiary, on a slump sale basis. The board also approved altering the object clause in the Memorandum of Association to include operating as a Payment Aggregator, subject to shareholder approval, to comply with RBI regulations. Additionally, the board approved a variation in the utilization of IPO proceeds and extended the time limits for their utilization. The LSP business contributed ₹2,613.75 million, representing 22.70% of the company's revenue for FY 2025-2026.
Key Highlights
- LSP business sale to MobiKwik Distribution Services Private Limited approved.
- Object clause alteration approved to include Payment Aggregator activity.
- LSP business contributed 22.70% to FY26 revenue, worth ₹2,613.75 million.
- Sale consideration via Non-Convertible Debentures based on book value of assets.
- Completion of sale expected by the end of Q2 FY 2026-27, subject to shareholder approval.
Price Impact
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