SEBI clears Nuvama’s entry into mutual funds, grants nod to act as sponsor

The development follows Nuvama’s earlier disclosure on January 31, 2025, when it had informed exchanges about its application to SEBI seeking approval to sponsor the fund.

Nuvama on Wednesday said it has received approval from the Securities and Exchange Board of India (SEBI) to act as the sponsor for its proposed mutual fund business.

In a regulatory filing, the company said SEBI, through a letter dated October 1, 2025, granted the approval to set up Nuvama Mutual Fund. This will enable the company to launch schemes under the mutual fund umbrella, including those in the Specialized Investment Fund category, as governed by the SEBI (Mutual Funds) Regulations, 1996.

The final registration for Nuvama Mutual Fund, however, will be granted once the company fulfils the requirements outlined by the regulator in its approval letter.

The development follows Nuvama’s earlier disclosure on January 31, 2025, when it had informed exchanges about its application to SEBI seeking approval to sponsor the fund.