The challenges for the leading fintech company in India, MobiKwik-known for digital wallet services-have arrived post its IPO in December 2024. Its share price fell by more than 4% lately and is now sitting at INR 441. This is from a 52-week high of INR 698.30. So that raises a red flag on the aspect of financial health. Dipping growth of active users, acute competition from existing giants such as Paytm, and operational stress factors have accounted for this declivity. Nevertheless, the fintech industry remains significant in Indian geography, although operational inefficiency coupled with higher engagement is need for MobiKwik before they fall and incur financial deficits long term, though.