New Delhi Financial services company Emkay Global and brokerage Abira Securities are the latest entities to apply for a license from the Securities and Exchange Board of India (SEBI) to run mutual funds.
Established in 1995, Emkay Global is a diversified financial services company dealing in wealth management, investment banking, equities and derivatives, insurance broking, portfolio management services, currency, depositories and research.
Established in 2012, Abira Securities is a Kolkata based stock broking house.
According to the market regulator’s website, Emkay Global applied for the license on March 3 this year and on March 24, Abira Securities joined seven other companies awaiting approval.
Flipkart Backed PhonePe Pvt. Ltd. had also applied for the license on December 31.
Applications were also submitted by Deepak Shenoy’s CapitalMind, Sameer Arora’s Helios Capital, Rakesh Jhunjhunwala’s Alchemy Capital and Kenneth Andrade-led Old Bridge Capital Management Pvt Ltd, which are currently being processed by SEBI. In addition, Angel One Limited and Unifi Capital Pvt. Ltd. has also applied for license.
Notably, Bajaj Finserv, Zerodha Broking and Frontline Capital Services have already received in-principle approval from SEBI to operate mutual fund business.
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