Crime Today News
One MobiKwik Systems on Wednesday said that it has incorporated MobiKwik Securities Broking Pvt Ltd (MSBPL), that will cater to stock broking and derivatives trading business. The Ministry of Corporate Affairs, Central Processing Centre, approved the incorporation of MSBPL as a wholly owned subsidiary of MobiKwik on March 3, it said in a notice to the exchanges.
The primary objective of MSBPL is to engage in the business of dealing in shares, stocks, securities, debt instruments, commodities, currencies, and their derivatives. The company also intends to act as a stock and commodity broker by acquiring membership in various stock and commodity exchanges in India and abroad.
“The initial paid-up share capital of MSBPL is ₹1 lakh. The company plans to infuse an additional ₹2 crore in one or more tranches to support the venture,” MobiKwik said in its exchange filing.
Shares of One MobiKwik Systems closed 4.36 per cent lower at ₹303.80 on the BSE.
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