“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.
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.
In September 2022, Helios Capital received Sebi’s in-principle approval to float the mutual fund business.
Zerodha Broking Ltd and Old Bridge Capital Management Pvt Ltd are the two entities awaiting Sebi’s final nod for a mutual fund license.
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. Earlier this year, diversified financial services group Bajaj Finserv entered the highly competitive mutual funds business.
