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SEBI has given its final approval to Samir Arora's PMS firm Helios Capital to start mutual fund business in India, announced Samir Arora on Twitter. The name of the new entity is Helios Mutual Fund.
In a tweet, Samir said, “I am very happy to announce that SEBI has granted approval to Helios Mutual Fund. We need your wishes and support to make this new venture a success.”
The company received in-principal approval in 2022. Other companies in the queue to launch MF business soon are Zerodha Broking and Old Bridge Capital.
In addition, there are at least 3 companies - Unifi, Alpha and Wizemarkets whose applications for a mutual fund licence is under consideration.
