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MUMBAI – Nuvama Wealth Management has received in-principle approval from the Securities and Exchange Board of India (SEBI) to launch its own mutual fund business.
In a regulatory filing, the company confirmed that SEBI, via a letter dated October 1, 2025, granted it approval to act as the sponsor for the proposed Nuvama Mutual Fund.
Next Steps for Nuvama
With the in-principle approval now secured, Nuvama Mutual Fund will proceed with preparations to establish and launch its operations in two key areas:
- Mutual Fund (MF) Business: Setting up the core mutual fund schemes.
- Specialized Investment Fund (SIF) Business: Establishing specialized investment vehicles.
The company noted that the final approval for the registration of the mutual fund will be granted by SEBI only after Nuvama fulfills all the requirements stipulated by the regulator.
The move marks a significant expansion for Nuvama Wealth Management into the broader asset management landscape.
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