Divestment22 May 2026, 01:52 pm
One Mobikwik: Sells LSP Business to Subsidiary
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 (MDSPL), 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. 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 (22.70%) to the company's revenue and had a net worth of ₹952.21 million (16.94%) as of March 31, 2026.
Key Highlights
- One Mobikwik to sell LSP business to its subsidiary MDSPL via slump sale.
- LSP business contributed 22.70% to revenue and 16.94% to net worth in FY26.
- Board approves amending MOA to include Payment Aggregator operations.
- Company to seek shareholder approval for LSP sale and MOA amendment.
- IPO proceeds utilization terms to be varied with extended timelines.
Price Impact
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