MobiKwik Post-IPO: The Path to Becoming a Fintech Giant | The IPO List

MobiKwik’s listing in late 2024 was a turning point for the company after years of waiting for the right market conditions. Since then, the fintech player has shifted its focus from simple "wallet" services to a full-stack financial platform offering credit, insurance, and investment products. This transition is essential for survival in a market dominated by PhonePe and Google Pay.\n\nThe company’s unique "ZIP" (Buy Now Pay Later) product has been the primary engine of its recent revenue growth. By leveraging data from its millions of wallet users, MobiKwik has managed to keep its credit loss rates lower than the industry average. This data-driven approach is what investors are currently valuing, as pure payment businesses continue to struggle with monetization.\n\nFor 2026, the key metric for MobiKwik will be its "Active Loan Book" size. As the company expands into Merchant Cash Advances and personal loans, its margins are expected to improve significantly. However, the regulatory environment for fintech in India remains strict. Any changes in RBI guidelines regarding digital lending or capital adequacy could impact the stock’s performance.\n\nMarket sentiment toward the stock is currently "Neutral to Bullish." After a period of post-listing consolidation, the stock has started making higher highs, supported by improving quarterly PAT. The upcoming earnings call in January 2026 is expected to provide more clarity on their AI-driven credit underwriting models.\n\nInvestors who bought into the IPO should consider holding, as the company is just beginning to unlock its "Super App" potential. For new investors, any dips in the price could serve as a good entry point to participate in the high-growth Indian digital credit market. MobiKwik’s lean operating model gives it an advantage over larger, more bloated competitors.