Merchants Experience Account Freezing Following Significant Financial Losses for MobiKwik - Information On The Incident
In a significant development, fintech firm MobiKwik has frozen over 2,000 merchant bank accounts due to unauthorised payment settlements worth approximately Rs 40 crore. This decision has led to a notable financial impact, including impairment losses and a non-cash charge recorded by Lesaka Technologies related to MobiKwik.
The freeze, which occurred on September 19, 2025, has resulted in increased net losses for the company. Lesaka had to restate financial results and withdrew FY2026 revenue guidance due to these issues, indicating investor concerns and potential volatility in MobiKwik's share price.
The impacted parties are MobiKwik's merchant bank accounts, and the reason for the unauthorised payment settlements remains unspecified. This event has raised questions about MobiKwik's current financial status, although the details are not yet available.
Meanwhile, those interested in MobiKwik's share price can find the latest updates on ET Now. The company, known for providing Business News, Stock Markets, IPO Companies News, and Breaking News Events, is a reliable source for such information.
Elsewhere, TCS and Vodafone Idea have inked a 5-year deal, but the reason for this partnership is not specified. In other market news, Citi has hiked the share price target for Samvardhana Motherson, giving it a SELL rating, but the reasons for this decision are also not detailed.
In a separate development, the credit date for the NSDL dividend 2025 is after Diwali, and there is a potential opportunity of Rs 50 dividend per share. The record date for this dividend is next Monday. A list of 123 stocks going ex-date today with dividends, splits, and rights issues is available.
The report was authored by ET Now Digital on September 19, 2025. Stay tuned for more updates on these and other market-related news.
Read also:
- Quantum Computing Market in the Automotive Sector Forecast to Expand to $6,462.13 Million by 2034
- List of 2025's Billionaire Video Game Moguls Ranked by Fortune
- VinFast Accelerates Globally, Leveraging Vingroup's Technological and Financial Foundation
- Transformation of Decarbonization Objectives in the Iron Ore Pellets Sector
