Nuvama Wealth Management Receives SEBI Approval to Launch Mutual Fund Operations

Nuvama Wealth Management Receives SEBI Approval to Launch Mutual Fund Operations​

Nuvama Asset Management Limited set up as AMC for Nuvama Mutual Fund; plans begin with Specialized Investment Funds

MUMBAI, India 10 June 2026 - Nuvama Wealth Management Limited announced that it has received final approval from the Securities and Exchange Board of India (SEBI) to commence mutual fund operations through its asset management arm, Nuvama Asset Management Limited (AMC). This milestone positions Nuvama as a key player in the burgeoning Indian wealth and asset management sector.

The regulatory clearance enables Nuvama to move forward with establishing its mutual fund business. The company confirmed that Nuvama Asset Management Limited, a wholly owned subsidiary of Nuvama, will function as the AMC for the new entity. Furthermore, Nuvama Mutual Fund Trusteeship Services Limited, another wholly owned subsidiary, will serve as the Trustee Company.

The achievement significantly strengthens Nuvama's standing as an integrated wealth and asset management platform. The company plans to begin its mutual fund offerings with Specialized Investment Funds (SIFs), intending to expand into a broader suite of investment solutions over time.

Scale and Expertise​

Nuvama has cultivated a strong foundation in the market, operating for over 30 years. As of March 2026, Nuvama was managing total client assets exceeding ₹ 4.5 trillion, serving more than 1.3 million affluent, HNI, and UHNI clients, alongside more than 4,750 of India's wealthiest families.

In addition to the broader wealth platform, the Nuvama Group maintains a focused alternative asset management franchise, which held over ₹ 12,500 crore in client assets as of March 31, 2026.

As per data reported for Q4 FY26, Nuvama continued to oversee ₹ 4,52,548 Crore in client assets, catering to a diverse clientele that includes affluent and HNI clients.

Management Commentary and Market Outlook​

Ashish Kehair, MD & CEO of Nuvama Group, stated that SEBI’s approval is an important component of building Nuvama's integrated wealth and asset management platform. He noted that the company’s investment expertise, distribution reach, and substantial client base position it well to scale a distinctive asset management business.

Mr. Kehair highlighted plans to start with Specialized Investment Funds (SIFs), stating that the group's experience in managing differentiated public market strategies provides a unique advantage, enabling them to extend these capabilities to a wider set of investors before expanding into more general investment solutions.

The launch comes as the Indian asset management industry experiences sustained growth, with industry-wide AUM surpassing ₹ 80 lakh crore. The mutual fund sector is widely anticipated to maintain its robust growth trajectory for the next decade due to rising domestic investor participation, increasing financial awareness, favorable demographics, and a growing culture of Systematic Investment Plans (SIP).

NUVAMA Stock Price Movement​

On Tuesday, Nuvama Wealth Management Limited saw its stock gain by 1.31% to settle at ₹1556.80 after trading an impressive total volume of 322,056 shares.