Zerodha unit gets nod for merchant banking
MUMBAI: Zerodha Corporate Advisors, a unit of the discount brokerage house founded by billionaire Nithin Kamath, received approval from the Securities and Exchange Board of India (Sebi) on September 1 to operate as a merchant banker, according to the regulator’s website.
The company had applied for the licence in April, as per the regulatory records. The formal registration process is yet to be completed, after which
Zerodha Corporate Advisors will be able to offer merchant banking services.
The licence will allow the company to advise on and manage initial public offerings (IPOs) and other capital-market transactions. Sebi currently has 249 registered merchant bankers, while 10 firms have applied for licences, according to data on the regulator’s website.
