Listen to this article
Choice International has received in-principle approval from SEBI to establish mutual fund business, said a company press release.
In accordance with SEBI’s approval, Choice International will set up an asset management company and a trustee company, adhering to all applicable regulations and legal requirements, said the company.
This is the third company to receive in-principle approval from SEBI this year after Jio BlackRock and Capitalmind.
Arun Poddar, CEO and Executive Director of Choice International, said, “This approval marks a significant step forward in our journey to becoming a comprehensive financial services provider. By entering the mutual fund industry, we aim to empower investors with tailored investment products and create value through disciplined and transparent fund management. We are deeply grateful for the trust SEBI has placed in us and are excited about the opportunities this presents for our stakeholders.”
The final approval for registration will be subject to the fulfilment of all requirements stipulated in the in-principle approval by SEBI.
