Mumbai, March 26 -- According to the company, 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 subsidiary will also act as a stock and commodity broker by acquiring membership with various stock and commodity exchanges, both in India and internationally.

The initial paid-up share capital for MSBPL is Rs 1 lakh. The company plans to infuse an additional Rs 2 crore in one or more tranches to support the subsidiary's growth.

The parent company, One Mobikwik Systems, will hold a 100% stake in the newly incorporated entity. The Ministry of Corporate Affairs, Central Processing Centre granted approval for the incorporatio...