MF licence aspirant list swells with new wave of AMCs ready to roll

New applications serve as launchpad for diversifying business and expanding capital market reach

India’s thriving mutual fund (MF) industry is drawing interest from several firms, with multiple applications submitted to the Securities and Exchange Board of India (Sebi) for asset management company (AMC) licences.

Pantomath Capital Advisors, Choice International, and AlphaGrep Securities are among the recent applicants. Meanwhile, Reliance Industries-backed Jio-Blackrock AMC and Capitalmind AMC have recently obtained Sebi’s approval to start operations. They will soon join new entrants such as NJ MF, Zerodha MF, and Helios MF in vying for a share of India’sRs 66 trillion MF industry, which is projected to grow at an 18 per cent compound