Nuvama Gets Sebi Nod To Launch Mutual Fund Business

New Delhi: Nuvama Wealth Management Ltd on Wednesday said it has received final approval from markets regulator Sebi to commence mutual fund operations through its asset management arm, Nuvama Asset Management.

The approval paves the way for the company to establish its mutual fund business and expand its asset management offerings.

Nuvama said its asset management company will initially seek regulatory approvals to launch investment products under the Specialised Investment Fund (SIF) framework, followed by a broader range of mutual fund products over time.

In a statement, the company said the development strengthens its position as an integrated wealth and asset management platform and will enable it to offer a wider range of investment solutions across investor segments.

“Sebi’s approval to establish our mutual fund business is another important building block in Nuvama’s integrated wealth and asset management platform,” Nuvama Group Managing Director and Chief Executive Officer Ashish Kehair said.

The company plans to begin with Specialised Investment Funds, leveraging its experience in managing differentiated public market strategies, he added.

As of March 2026, Nuvama managed total client assets of over Rs 4.5 lakh crore and served more than 13 lakh affluent, high-net-worth and ultra-high-net-worth clients, along with over 4,750 wealthy families across India.

Its alternative asset management business had client assets exceeding Rs 12,500 crore as of March 31, 2026.

Nuvama said it is entering the mutual fund industry at a time when the sector’s assets under management have crossed Rs 80 lakh crore, supported by rising retail participation, increasing financial awareness and growing adoption of systematic investment plans (SIPs).