Ashika Group gets SEBI nod to launch mutual fund business

By Vriti Gothi

Ashika Group has received in-principle approval from the Securities and Exchange Board of India (SEBI) to act as a sponsor and set up a mutual fund business in India, marking its proposed entry into the country’s asset management sector.

The regulatory clearance allows the Mumbai-based financial services group to move forward with establishing an Asset Management Company (AMC) and initiating the process for launching mutual fund schemes, subject to meeting SEBI’s final registration requirements and conditions.

The development comes at a time when India’s mutual fund industry continues to expand, driven by rising retail participation, growing systematic investment plan (SIP) inflows, and increased demand for professionally managed investment products. New entrants with diversified financial services backgrounds are seeking to capitalise on this growth by leveraging institutional capabilities and research-led investment frameworks.

Ashika Group’s planned foray into mutual funds builds on its existing presence across capital markets and financial services, including retail and institutional broking, investment banking, research advisory, global family office services, alternative asset management, and private equity. The proposed fund house is expected to introduce a range of investment schemes designed to cater to different investor segments, with an emphasis on research, risk management, and governance.

Pawan Jain, Chairman and Managing Director of Ashika Group, said, “We are honoured to receive SEBI’s in-principle approval, which marks an important institutional milestone for Ashika Group and reinforces our long-standing belief in building enduring, governance-led financial platforms. The launch of Ashika Mutual Fund is a natural extension of our vision to contribute meaningfully to India’s evolving asset management ecosystem.”

He added that the group views its role as a mutual fund sponsor as extending beyond returns, with a focus on research depth, prudent risk practices, and accountability aimed at delivering long-term value to investors.

Following the in-principle approval, Ashika Group will work towards completing regulatory formalities required for final registration before commencing operations.