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SEBI has given in-principal approval to Samir Arora's PMS firm Helios Capital to start mutual fund business in India, shows SEBI website.
An in-principle approval is a partial approval that allows the firm to start the process of setting up an AMC. The launch of products can only happen after SEBI gives its final go-ahead.
With this, Helios is the first firm to get an in-principle nod from the regulator this year. In 2021, three companies — Bajaj Finserv, Zerodha Broking and Frontline Capital Services — had received the partial approval from SEBI and are yet to get the final go-ahead.
In addition, there are at least 8 companies whose applications for a mutual fund licence is under consideration. Emkay Global, Abira Securities, Phonepe and Angel One are some of the names.
