Ashika Group Enters Mutual Fund Market with SEBI Approval

Ashika Group has received in-principle approval from SEBI to launch mutual funds, marking its entry into fund management. This step involves setting up an Asset Management Company and preparing mutual fund schemes, expanding its presence in capital markets and financial services in India.

Ashika Group announced on Wednesday that it received conditional approval from India's Securities and Exchange Board (SEBI) to introduce mutual funds.

This development permits the company to establish an Asset Management Company (AMC) and prepare mutual fund offerings, contingent on satisfying SEBI's final registration parameters, according to the group's statement.

The move into mutual funds is part of Ashika Group's broader strategy, leveraging its expertise in capital markets, financial services, and investment offerings to enhance India's asset management sector, as per Pawan Jain, Chairman & Managing Director.

(With inputs from agencies.)