Brokerage firm Zerodha gets SEBI nod to foray into mutual fund business

Brokerage firm Zerodha gets SEBI nod to foray into mutual fund business

IANSUpdated: Thursday, September 02, 2021, 12:01 AM IST
article-image
Zerodha had applied for an AMC (Mutual fund) license in February last year/ Representational image |

Brokerage firm Zerodha has received in-principle approval from the SEBI to launch its asset management company.

Zerodha Founder and CEO, Nithin Kamath said in a tweet on Wednesday: "So, we just got our in-principle approval for our AMC (MF) license. I guess now comes the hard part.

The company had applied for an AMC (Mutual fund) license in February last year.

"To grow the capital market participation from the current 1.5 crores and address those who currently don't invest (Millenials), we think mutual fund as a product needs to be reimagined. So yeah, we have just applied for an AMC (Mutual fund) license," he had said in a tweet last year.

RECENT STORIES

The Impact Of AI On Psychometric Testing

The Impact Of AI On Psychometric Testing

Shapoorji Pallonji Group's Afcons Infrastructure Files Draft Red Herring Prospectus For ₹7,000 Cr...

Shapoorji Pallonji Group's Afcons Infrastructure Files Draft Red Herring Prospectus For ₹7,000 Cr...

ICICI Securities' Retail Distribution Head Quits; Exchange Filing Reveals

ICICI Securities' Retail Distribution Head Quits; Exchange Filing Reveals

Exploring The Technological Foundation Of Harambe Token

Exploring The Technological Foundation Of Harambe Token

The Entrepreneurial Journey Of Moglix’s Founder & CEO, Rahul Garg, And How He Built A...

The Entrepreneurial Journey Of Moglix’s Founder & CEO, Rahul Garg, And How He Built A...