Nuvama Wealth Shares Surge 5% as SEBI Greenlights Mutual Fund Sponsorship

td. shares climbed over 5% in early trade on Friday, fueled by the Securities and Exchange Board of India (SEBI)'s approval for the company to sponsor its proposed mutual fund arm. The stock hit a high of Rs 8,250, reflecting market enthusiasm for Nuvama's foray into the burgeoning asset management sector. In an exchange filing, Nuvama announced that SEBI, via a letter dated October 1, 2025, has authorized it to establish Nuvama Mutual Fund, enabling the launch of various mutual fund schemes and Specialized Investment Funds (SIF). This milestone follows the firm's application in January 2025, marking a strategic pivot to diversify beyond wealth broking and lending. The approval is provisional, with final registration hinging on compliance with SEBI's stipulations, including the setup of a trustee company. Analysts view this as a growth catalyst, positioning Nuvama to tap into India's retail investment boom amid rising AUM in mutual funds. With the SIF market heating up, Nuvama's entry could attract fresh inflows, underscoring its ambition to become a full-stack financial services powerhouse.