Zerodha applies for SEBI top-tier merchant banking license to expand
Business
Zerodha, best known for its discount brokerage app, is now looking to enter investment banking.
It has applied for a top-tier merchant banking license from the Securities and Exchange Board of India (SEBI) through its subsidiary, aiming to expand beyond just trading and offer more financial services.
Approval would let Zerodha manage IPOs
If approved, Zerodha can start managing IPOs and help companies raise funds, putting it in the same league as big names like JM Financial and Kotak Mahindra Capital.
This move comes after it launched fixed-deposit investments on its Coin platform, showing it is serious about giving users more ways to grow their money, all in one place.