Nuvama Wealth rallies over 4 percent on Sebi's nod to sponsor a mutual fund

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In January 2025, the company had informed exchanges about the application seeking approval to act as the sponsor for Nuvama Mutual Fund. This would enable it to launch mutual funds as well as Specialized Investment Fund (SIF).

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Capital market regulator Sebi has approved Nuvama Wealth Management’s application seeking to act as a sponsor to set up a mutual fund, the company informed exchanges through a filing, sending the shares higher by more than 4 percent on October 3.

“We are pleased to inform that SEBI vide letter dated October 1, 2025, has granted approval to the Company to act as the sponsor and set up the proposed Nuvama Mutual Fund,” the statement said. a final approval for registration of the mnutual fund will be granted subject to fulfilment of the stipulated requirements.

In January 2025, the company had informed exchanges about the application seeking approval to act as the sponsor for Nuvama Mutual Fund. This would enable it to launch mutual funds as well as Specialized Investment Fund (SIF).

On YTD basis, Nuvama’s shares are flat but are higher by 10 percent over the last one year.

This is being updated