Ashika Group gets SEBI’s in-principle nod to launch mutual fund business

Ashika Group is a multi-disciplinary financial services platform with operations across more than 20 states and a retail broking client base of over 125,000.

• Ashika Group gets SEBI nod to set up Ashika Mutual Fund
• Company to establish AMC and launch schemes after meeting SEBI requirements
• Ashika to provide diverse investments with strong research and governance

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Ashika Group on Tuesday, December 31, announced that it has received in-principle approval from the Securities and Exchange Board of India (SEBI) to act as a sponsor and set up Ashika Mutual Fund.  With the regulatory approval,  the company can move forward with the establishment of an Asset Management Company (AMC) and begin preparations for launching mutual fund schemes, subject to the fulfilment of SEBI’s final registration requirements and conditions. Details of the same have not been announced yet.

According to a release from the group, Ashika’s entry into the mutual fund space builds on its nearly three decades of experience across capital markets and financial services, including retail and institutional broking, investment banking, research advisory, global family office services, alternative asset management, and private equity. The proposed mutual fund house plans to offer a curated range of investment schemes designed to meet the needs of a diverse investor base, supported by robust research, disciplined risk management, and a governance-first framework.

Commenting on the development, Pawan Jain, Chairman & Managing Director of Ashika Group, said the approval represents an important institutional milestone for the Group. “As sponsors, our responsibility goes beyond performance, it is about building a culture rooted in strong research, prudent risk management, and unwavering accountability, with the objective of delivering sustainable, long-term value for investors,” he said.

Established in 1994, Ashika Group is a multi-disciplinary financial services platform with operations across more than 20 states and a retail broking client base of over 125,000.  The AMC once live will join an already growing mutual fund industry of more than 40 plus fund houses. In 2025, around 5 new AMCs entered the space, offering a range of products - from active equity to passive funds. Some of the fund houses that were launched this year included Choice, Jio BlackRock and Abakkus MF.