PremiumFinancial services company Emkay Global and brokerage Abira Securities are the latest entities to apply for licenses from the Securities and Exchange Board of India (Sebi) to run mutual funds
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NEW DELHI : Financial services company Emkay Global and brokerage Abira Securities are the latest entities to apply for licenses from the Securities and Exchange Board of India (Sebi) to run mutual funds.
Founded 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, depository and research.
Established in 2012, Abira Securities is a Kolkata-based stock broking house.
According to the market regulator’s website, Emkay Global filed for the licence on 3 March this year and Abira Securities on 24 March, joining seven other companies awaiting approvals.
Flipkart-backed PhonePe Pvt. Ltd also filed for the licence on 31 December.
Applications were also submitted by Deepak Shenoy’s Capitalmind, Samir 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. Further, Angel One Ltd and Unifi Capital Pvt. Ltd have also applied for licenses.
Notably, Bajaj Finserv, Zerodha Broking and Frontline Capital Services have already received in-principle approvals from Sebi to operate mutual fund business.
