Fintech firm One MobiKwik Systems has received approval from the Reserve Bank of India (RBI) for its NBFC licence, marking a key milestone in its transition toward becoming a full-stack financial services platform. The licence will enable the company to launch its in-house lending business through its wholly owned subsidiary MobiKwik Financial Services Private Limited (MFSPL). However, operations will begin only after receiving the Certificate of Registration (CoR) and meeting regulatory conditions. With this move, MobiKwik will be able to originate and underwrite loans directly, reducing its dependence on third-party lending partners. This is expected to improve profit margins, accelerate…
Author: Adarsh Kumar
Mobile gaming company Metasports Interactive has secured $20 million in user acquisition (UA) funding from London-based growth financing firm Metica, as it looks to scale its flagship cricket game globally. The funding will be deployed to boost marketing and user acquisition efforts for Hitwicket, the company’s multiplayer cricket game, while also supporting its international expansion strategy. Founded by Kashyap Reddy and Keerti Singh, the company claims that Hitwicket has already built a user base of over 18 million players across 109 countries. As part of the partnership, Metica will also provide its proprietary technology platform, aimed at improving in-game monetisation…
April 2026 has marked a turning point for India’s fintech ecosystem, as the Reserve Bank of India (RBI) rolled out a series of regulatory actions and enforcement measures impacting payments, wallets, cards, and lending startups. The most significant step came on April 24, when the RBI cancelled the licence of Paytm Payments Bank, citing governance and compliance lapses. The regulator has initiated steps to wind up the entity, affecting Paytm’s wallet and merchant settlement ecosystem, although the company maintains that its core business remains unaffected. In digital payments, the RBI has proposed a one-hour delay for UPI and IMPS transactions…
Early stage venture capital firm Capital-A has announced the first close of ₹160 crore for its second fund (Fund II), as it looks to expand investments in deep-tech and industrial innovation sectors. The fund is targeting a base corpus of ₹300 crore, with an additional greenshoe option of ₹100 crore, reflecting strong investor interest in early stage opportunities. The first close was primarily backed by domestic investors, including prominent individuals and family offices such as Srikar Reddy, Siddharth Bafna, Sekhar Boddu, Chamaria Group, Steel House Family Office, Avyay Jhunjhunwala, the family office of Vijayalakshmi Agarbathi Works, and the Anand Rathi…
Sun Pharmaceutical Industries has announced the acquisition of US-based Organon & Co in an all-cash deal valued at $11.75 billion, including debt, marking one of the largest outbound acquisitions by an Indian pharmaceutical company. As part of the transaction, Sun Pharma will acquire all outstanding shares of Organon at $14 per share, representing a premium of over 24% to its last closing price. Organon carried $8.6 billion in debt as of December 31, 2025. The acquisition will significantly strengthen Sun Pharma’s presence in women’s health, providing access to Organon’s portfolio of 70+ products across women’s health and general medicines, with…
Fintech firm Pine Labs has acquired a 100% stake in Shopflo Technologies, a D2C checkout platform, in a deal valued at up to ₹88 crore, according to regulatory filings. The acquisition, which will be completed within three months, is structured as an all cash transaction. Founded in 2021, Shopflo provides checkout infrastructure and ecommerce enablement tools designed to improve conversion rates for online brands. The company reported ₹14.7 crore revenue in FY25, up from ₹9.1 crore in FY24 and ₹0.63 crore in FY23, reflecting rapid growth. Pine Labs said the acquisition aligns with its strategy to build a full stack…
Japan based Sumitomo Mitsui Financial Group (SMFG) has infused ₹1,075 crore into its Indian NBFC arm, SMFG India Credit (SMICC), through a rights issue, reinforcing its long-term commitment to the Indian market. The capital infusion is aimed at strengthening the company’s balance sheet and supporting its next phase of growth, as the NBFC focuses on expanding its operations and improving efficiency. According to Ravi Narayanan, the investment will help accelerate digital transformation initiatives, enhance customer experience, and reinforce risk management and governance frameworks. SMFG India Credit has been witnessing steady growth across its business segments. As of December 31, 2025,…
Non-banking financial company Mahindra and Mahindra Financial Services reported a more than twofold rise in consolidated net profit to ₹940 crore in Q4 FY26, compared to ₹456 crore in the same quarter last year. On a standalone basis, the company’s profit after tax (PAT) grew 55% to ₹873 crore, reflecting strong operational performance. According to Managing Director and CEO Raul Rebello, the growth was driven by improved operating metrics, including controlled funding costs, which expanded the net interest margin (NIM) by 1% to 7.5%, along with 12% asset growth, a doubling of fee income, and tighter control over operating and…
The Reserve Bank of India (RBI) has cancelled the banking licence of Paytm Payments Bank Limited, effective from the close of business on April 24, 2026, marking a major regulatory action in India’s fintech sector. The decision has been taken under Section 22(4) of the Banking Regulation Act, 1949, following which the bank is prohibited from carrying out banking operations or related activities with immediate effect. The RBI stated that it will approach the High Court for the winding up of the bank. It also clarified that the entity currently has adequate liquidity to repay all depositors during the wind-up…
SBI Funds Management, India’s largest asset manager, is expected to begin formal marketing for its $1.5 billion IPO as early as next week, according to sources familiar with the matter. The company plans to allocate around 75% of the issue to domestic investors, while also exploring a pre-IPO placement of up to $350 million, as part of its fundraising strategy. SBI Funds is reportedly targeting a valuation of $13–15 billion, positioning it among the most valuable asset management firms in India. This compares with ICICI Prudential Asset Management, which currently has a market capitalisation of about $17.6 billion following its…