Nuvama Wealth Management secures SEBI nod to sponsor proposed mutual fund

Financial services company Nuvama Wealth Management Limited on Wednesday (October 1) said it has received approval from the Securities and Exchange Board of India (SEBI) to act as the sponsor of the proposed Nuvama Mutual Fund.

The approval, conveyed through SEBI’s letter dated October 1, 2025, enables the company to set up the Nuvama Mutual Fund and launch schemes under the Mutual Fund, including those in the Specialised Investment Fund category.

This development follows Nuvama’s earlier intimation to the stock exchanges on January 31, 2025, when it had informed about its application to SEBI seeking permission to act as a mutual fund sponsor.

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The company noted that while SEBI has now granted approval to act as the sponsor, the final registration of the mutual fund will be subject to the fulfilment of requirements specified in the regulator’s letter.

Shares of Nuvama Wealth Management Ltd ended at ₹6,492.95, up by ₹190.50, or 3.02%, on the BSE.