MobiKwik to Buy 3.39% Stake in B2B Infra Platform Blostem for Rs 10.49 Mn

22 Feb 2025 CW Team

Fintech firm MobiKwik has announced the acquisition of a 3.39 per cent stake in business-to-business (B2B) banking infrastructure platform Blostem for Rs 10.49 million. Following the completion of this deal, MobiKwik's total shareholding in Blostem is projected to increase to 6.79 per cent.

The investment is part of a share subscription and shareholders' agreement signed between MobiKwik and Blostem in March. Under this agreement, MobiKwik committed to investing Rs 30 million in two tranches to acquire equity in the B2B platform. The first tranche of Rs 10.5 million was disbursed in March, securing a 3.4 per cent stake in Blostem's fully diluted paid-up capital.

Blostem, established in 2021, focuses on fixed deposit (FD) aggregation as its primary service. The company has formed partnerships with multiple banks and non-banking financial companies (NBFCs) to facilitate its operations. For the financial year ending March 2024, Blostem reported revenue of Rs 3.76 million.

In October 2023, MobiKwik introduced an FD product on its mobile application in collaboration with financial services firms. The initiative included partnerships with Reserve Bank of India (RBI)-regulated Small Finance Banks and NBFCs such as Suryoday Small Finance Bank and Bajaj Finance, alongside technology service provider Blostem.

MobiKwik reported a consolidated loss of Rs 550.2 million in the third quarter of the financial year 2025 (Q3FY25), following a profit of Rs 50.27 million during the same period the previous year. On a sequential basis, the company had posted a loss of Rs 30.59 million in Q2FY24. Revenue from operations increased by 17.7 per cent, rising from Rs 2.28 billion in Q3FY24 to Rs 2.69 billion in Q3FY25, but experienced a sequential decline of 7.3 per cent.

News source: Business Standard

Image Source: Image generated by ChatGPT

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..