One MobiKwik Systems Limited has filed its Monitoring Agency Report for the quarter ended March 31, 2026, with the stock exchanges on May 12, 2026, in compliance with Regulation 32(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Regulation 41(4) of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The report has been prepared by CARE Ratings Limited, which serves as the Monitoring Agency for the company's Initial Public Offer. The IPO, which raised Rs. 572 crore through issuance of equity shares, was open for subscription from December 11, 2024 to December 13, 2024. The report confirms that all utilisation of proceeds has been in accordance with the disclosures made in the Offer Document, with no material deviations observed.

IPO Issue and Monitoring Overview

The report covers One MobiKwik Systems Limited, a company in the Financial Services sector, with promoters including Bipin Preet Singh, Upasana Rupkrishan Taku, Koshur Family Trust, and Narinder Singh Family Trust. CARE Ratings Limited, acting as the Monitoring Agency, has confirmed that there is no deviation from the objects of the issue and that the means of finance for the disclosed objects remain unchanged. The Monitoring Agency's report is based on a Chartered Accountant certificate from M/s V P G S & Co Chartered Accountants dated April 16, 2026, along with management certificates, bank statements, expense invoices, and Fixed Deposit receipts.

IPO Proceeds Utilisation — Progress in Objects

As of the end of Q4 FY2026, the company had cumulatively utilised Rs. 384.39 crore out of the total IPO proceeds of Rs. 572.00 crore, leaving Rs. 187.61 crore unutilised. The following table summarises the utilisation progress across all objects:

During Q4 FY2026, the company utilised Rs. 17.17 crore towards providing FLDG to lending partners under Object 1, Rs. 15.97 crore towards employee payments in data, engineering, and product departments under Object 3, Rs. 2.86 crore for purchase of payment devices including Soundbox and Electronic Data Capture (EDC) machines under Object 4, and Rs. 0.67 crore towards IPO-related expenses such as brokerage fees for SBI Caps and ASBA. No funds were deployed under Object 2 (payment services business) or General Corporate Purpose during the quarter.

Delays in Implementation

The Monitoring Agency has noted delays in the utilisation of funds for Objects 1 and 3, both of which were originally required to be utilised by FY2026 as per the Offer Document. The delay in these objects is described as "Not Ascertainable" in terms of the number of days or months. Additionally, a six-month delay was recorded for General Corporate Purpose (GCP) utilisation, which was required to be completed by FY2025 but was ultimately completed by FY2026. The GCP delay involved Rs. 3.23 crore, which constitutes less than 5% of the total utilised amount. The company's management has confirmed that unutilised funds for Objects 1 and 3 will be carried forward post receipt of appropriate approvals.

The Monitoring Agency has also flagged that the company reported losses of Rs. 66.49 crore in 9MFY26 owing to changes in the industry and regulatory landscape, though in Q3FY26, the company reported a PAT of Rs. 4.05 crore on a consolidated level.

Deployment of Unutilised Proceeds

The remaining unutilised balance of Rs. 187.61 crore as on March 31, 2026 is deployed as follows:

The fixed deposits of Rs. 195.70 crore are spread across multiple scheduled commercial banks including HDFC Bank Ltd, IDFC, and Kotak Bank, with maturities ranging from April 2026 to March 2027 and returns on investment ranging from 4.75% to 6.65%.

General Corporate Purpose Utilisation

The amount earmarked for General Corporate Purpose (GCP) in the Offer Document has been fully utilised till Q2FY26, with no further deployment in Q4FY26. The Monitoring Agency noted that the utilisation towards GCP was required to be completed by FY25 but was completed by FY2026, reflecting a delay of six months. Management has further indicated its intent to reallocate surplus funds from IPO-related expenses towards GCP in FY27, subject to receipt of appropriate approvals. The report has been made available on the company's website and the submission was signed by Ankita Sharma, Company Secretary and Compliance Officer.

one mobikwik systems has outlined an ambitious strategic direction, with its Co-Managing Director announcing plans to expand the company's core business and develop four new growth areas over the next two years. The announcement reflects a structured approach to scaling operations, balancing strengthening of existing capabilities with targeted diversification.

Strategic Roadmap Announced

The Co-MD's declaration centers on a two-pronged strategy: deepening the company's presence in its core business while simultaneously identifying and building out four distinct new growth areas. The two-year timeline underscores a near-to-medium-term focus on execution and expansion.

Key Highlights

• The Co-MD has formally declared intent to grow the company's core business operations.
• Four new growth areas are identified for development as part of the strategic plan.
• The execution horizon spans the next two years.
• The announcement signals a structured, multi-segment approach to business scaling.

The strategic plan, as declared by the Co-MD, positions One MobiKwik Systems for a period of focused expansion. While specific financial targets and details of the four new growth areas were not disclosed in the announcement, the dual-track strategy of core business strengthening alongside new area development reflects a deliberate and phased approach to growth.