Emkay Global & Abira Securities apply for MF license
Emkay Global Financial Services and brokerage house Abira Securities have become the latest entities to approach capital markets regulator Sebi for a mutual fund license.
The two firms have joined the list of seven entities, which are awaiting Sebi’s approval to enter into the mutual fund space. At present, the mutual fund industry has 43 players who together manage assets of Rs 37.75 lakh crore. A flurry of applications for a mutual fund license was seen after the market regulator allowed fintech firms to enter the space.
Bajaj Finserv Limited, Zerodha Broking Limited and Frontline Capital Services Limited have already received Sebi’s in-principle approval during August-October 2021 and the approval for final registration is pending.
Emkay Global Financial Services Limited and Abira Securities Limited filed their applications with the Sebi on March 3 and March 24 respectively, an update with the regulator’s website showed.
Emkay Global Financial Services offers services in areas like institutional equity, portfolio management services, wealth management, investment banking and global investing. Abira Securities is a Kolkata-based stock broking house.
Applications of as many as seven companies : Phonepe, Wizemarkets Analytics Pvt Ltd, Unifi Capital, Alchemy Capital Management, Helios Capital Management PTE Ltd, Old Bridge Capital Management and Angel One are under consideration as of June end.
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