<p>Helios Capital has received capital markets regulator Sebi's approval to launch a mutual fund business, Samir Arora, the main founder of the company announced.</p>.<p>Helios Capital Management PTE Ltd, which is the business of portfolio management services, applied for a mutual fund licence with the Securities and Exchange Board of India (Sebi) in February 2021.</p>.<p>'I am very happy to announce that Sebi has granted approval to Helios Mutual Fund...We need your wishes and support to make this new venture a success,' Arora, who is also the fund manager at Helios Capital, wrote at X platform, formerly known as Twitter, on Thursday.</p>.<p>After quitting Alliance Capital 20 years ago, Arora is re-entering the 43-player mutual fund industry. He was the Chief Investment Officer of Alliance Capital's Indian mutual fund business.</p>.<p>In September 2022, Helios Capital received Sebi's in-principle approval to float the mutual fund business.</p>.<p> Zerodha Broking Ltd and Old Bridge Capital Management Pvt Ltd are the two entities awaiting Sebi's final nod for a mutual fund licence.</p>.<p> Besides, applications of three companies -- Unifi Capital Pvt Ltd, Alpha Alternatives Fund Advisors LLP and Wizemarkets Analytics Pvt Ltd -- are under the regulator's consideration as of June 2023, data with Sebi showed.</p>.<p> Earlier this year, diversified financial services group Bajaj Finserv entered the highly competitive mutual funds business. </p>
<p>Helios Capital has received capital markets regulator Sebi's approval to launch a mutual fund business, Samir Arora, the main founder of the company announced.</p>.<p>Helios Capital Management PTE Ltd, which is the business of portfolio management services, applied for a mutual fund licence with the Securities and Exchange Board of India (Sebi) in February 2021.</p>.<p>'I am very happy to announce that Sebi has granted approval to Helios Mutual Fund...We need your wishes and support to make this new venture a success,' Arora, who is also the fund manager at Helios Capital, wrote at X platform, formerly known as Twitter, on Thursday.</p>.<p>After quitting Alliance Capital 20 years ago, Arora is re-entering the 43-player mutual fund industry. He was the Chief Investment Officer of Alliance Capital's Indian mutual fund business.</p>.<p>In September 2022, Helios Capital received Sebi's in-principle approval to float the mutual fund business.</p>.<p> Zerodha Broking Ltd and Old Bridge Capital Management Pvt Ltd are the two entities awaiting Sebi's final nod for a mutual fund licence.</p>.<p> Besides, applications of three companies -- Unifi Capital Pvt Ltd, Alpha Alternatives Fund Advisors LLP and Wizemarkets Analytics Pvt Ltd -- are under the regulator's consideration as of June 2023, data with Sebi showed.</p>.<p> Earlier this year, diversified financial services group Bajaj Finserv entered the highly competitive mutual funds business. </p>