FPIs Line Up For MobiKwik, Raise Acquires Stratzy & More

Foreign Investors Line Up For MobiKwik

MobiKwik is witnessing a dramatic reshuffle of its cap table. Domestic AIFs trimmed their exposure in the March quarter, while foreign backers aggressively increased their bets. So, why is the MobiKwik stock seeing a major reset in its ownership?

The Domestic Retreat: Indian AIFs cumulatively slashed their shareholding in the company by 50% to 5.61 Lakh shares at the end of March 2026. This came as two of the five local AIFs, many of which entered during the IPO’s anchor round, exited over the past three months. The selloff could likely be linked to these early backers locking in gains (the stock is up 14% in the past month despite heavy volatility). 

FPIs Step In: Foreign portfolio investors, meanwhile, signalled renewed conviction. Global funds boosted their collective stake in the fintech company by 33% to 33.42 Lakh shares at the end of Q4 FY26. FPIs seem to have either maintained or expanded their positions, seemingly betting on the company’s ability to scale its bottom line. 

Retail Stays Strong: Retail investors still form the biggest block on the cap table, holding about 36% of the company, though they also pared some exposure (3.31 Lakh shares or 1.34% decline) during the quarter. Promoter holding remained stable at 24.63%, while corporate bodies such as Bajaj Finance, Times Internet and SI Investments also kept their positions intact.

Profit Changes The Lens: The ownership reshuffle comes after MobiKwik turned profitable in Q3 FY26, posting a consolidated net profit of ₹4 Cr, while revenue rose 7.2% YoY to ₹288.9 Cr. The company also received BSE approval in February to begin stock broking through its subsidiary, adding another growth lever just as investors reassess its trajectory.

So, while domestic investors line up for its new-age tech peers like Zomato and Paytm, why are foreign funds forming a beeline for MobiKwik? Let’s find out… 

From The Editor’s Desk

Raise Financial Acquires Stratzy

• The fintech unicorn has acquired the algo-trading platform in a cash-and-stock deal for an undisclosed amount. Post the acquisition, Stratzy’s leadership and other team members will continue to operate independently. 
• The acquisition will enable Raise Financial Services to introduce a managed and curated algo investing layer for Dhan users. Meanwhile, Stratzy plans to scale its platform by expanding its algorithmic strategies and strengthening execution infrastructure.
• Founded in 2021, Raise Financial Services operates stock broking app Dhan, upskilling platform Upsurge.club and new-age media startup Filter Coffee. It became a unicorn in October last year after raising $120 Mn in its Series B round at a valuation of $1.2 Bn. 

Lawyered Bags $2.5 Mn

• The legal tech startup has raised around ₹23 Cr in its Pre-Series A round co-led by Rainmatter and Turbostart to scale its platform, strengthen product offerings and accelerate user acquisition.
• Founded in 2018, Lawyered’s AI-powered platform helps users avail on-road legal advisory and resolve traffic challans. It also offers legal risk management services for mobility businesses. It also claims to have a network of 80K lawyers under its belt.
• At the heart of all this is India’s growing AI market, which is projected to cross $126 Bn by 2030, with a cumulative GDP impact of $1.7 Tn by 2035

India’s Top Foreign Investors

• Foreign investors are doubling down on India’s new-age tech ecosystem. In 2025, FPIs invested ₹26,508 Cr in IPO anchor rounds, up over 40% growth from the previous year.
• Several global names have been active in the anchor rounds of India’s new-age tech IPOs, including the likes of Goldman Sachs, Franklin Templeton, Fidelity, BlackRock and GIC.
• Industry watchers underline three structural factors driving global investor interest in India’s startup IPOs – digital economy demonstrating profitability at scale, S&P’s upgrade of India’s credit rating and a reliable exit visibility for overseas investors.

PrimeInvestor Bags ₹19.5 Cr

• The wealthtech startup has raised around $2.1 Mn in its seed round from Zerodha’s investment arm Rainmatter Capital to scale its recently launched portfolio management service (PMS) and expand its product offerings.
• Founded in 2019, PrimeInvestor offers subscription-driven financial research and investment advisory services for retail investors. Going forward, it plans to evolve into a comprehensive wealth management platform.
• PrimeInvestor is vying for a piece of the homegrown market, which currently has nearly 2.1 Lakh PMS customers. The number is expected to cross 15 Lakh in the next five years.

Brokerages Upbeat On Groww

• Following its upbeat Q4 results, several brokerages gave positive calls on the listed fintech major. While Citi gave a ‘buy’ call with a price target (TP) of ₹230, UBS stayed ‘neutral’  with a TP of ₹210. 
• The brokerages attributed the positive outlook to the unicorn’s strong revenue growth, improving margins, healthy operating leverage, continued scaling of products like MTF, market share gains and cost discipline.
• On the back of the thumbs up from brokerages, the stock ended yesterday’s trading session 8.96% higher at ₹214.05 apiece on the BSE. The stock also hit an all-time high of ₹216.70 earlier in the day.

Inc42 Markets

Inc42 Startup Spotlight

How Bonkers Is Making Streetwear Fashionable

When streetwear was booming globally around 2020, India still lacked homegrown brands that could make oversized fashion feel relevant, affordable and consistent. Bonkers Corner spotted the gap early and built a digitally-native label that now wants to become a retail powerhouse.

From Factory To Fashion: Founded in 2020, Bonkers started with women-led oversized tees, and then expanded into a unisex portfolio. The brand now offers 12,000 SKUs across oversized apparel, joggers, hoodies, gym wear and sweatshirts. Licensed collaborations with names like Disney, Smiley, Tokidoki and Hot Wheels add a fandom layer to the mix.

Design, Control & Scale: A big part of Bonkers’ edge is its in-house manufacturing and tight cost discipline. The company runs three manufacturing sites and keeps sourcing, printing, stitching and embroidery under its own control, which the company says helps reduce inefficiencies and dead stock. That model has supported the brand’s profitability from the outset and helped the company keep a lean structure.

The Retail Bet: The D2C brand entered offline retail in 2023 and now says 40% of its business comes from stores. Following a Shark Tank India appearance and a $15 Mn Series A this year, Bonkers plans to open 100 outlets, invest in a green manufacturing plant in Maharashtra’s Murbad and deepen its denim push.

So, can Bonkers Corner turn early streetwear hype into a durable fashion empire?

Infographic Of The Day

India’s ₹71,000 Cr pet care market is no longer just about kibble. We mapped the entire 2026 ecosystem, from fresh food D2C brands to luxury grooming. Here is all about it…

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