Firms of Rakesh Jhunjhunwala, Samir Arora file for mutual fund license

Months after Securities and exchange board of India relaxed norms, fintechs are making a beeline to apply for mutual funds. Four new companies have filed papers for mutual fund licenses in the last four months. Among these are companies of two ace investors Rakesh Jhunjhunwala and Samir Arora.

Samir Arora's Helios Capital Management and Rakesh Jhunjhunwala's Alchemy Capital are among the four companies that have recently applied for the mutual fund status. It remains to be seen whether they get an approval for the same.

Apart from these two, Unifi Capital Private Limited and Wizemarkets Analytics Private Limited have applied for the mutual fund license.


Sebi in December paved the way for technology startups to enter the mutual fund business by waiving the profitability requirement, approved doing away with minimum promoter contribution toward further public offers (FPO), and also eased norms on investing in insolvent companies.

Before December, regulators required an entrant to have five years of experience in the financial services business, demonstrate three years of profitability, and maintain a net worth of Rs 50 crore.