Capital market regulator SEBI has given its final nod to Samir Arora-promoted Helios Capital Management for launching mutual fund business.

Once launched, Helios Mutual Fund will become the 46th entity to enter this most buzzing industry with an asset under management of ₹46-lakh crore.

Helios had applied for a mutual fund licence with SEBI in February, 2021 and was granted an in-principal nod last September along with Zeordha Broking. But both the financial services firms were waiting for the final approval before entering the business.

Samir Arora, promoter of Helios Capital in a tweet on Thursday said, “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 was the Chief Investment Officer of Alliance Capital’s Indian mutual fund business between 1993 and 2013.

In June, Bajaj Finserv Mutual Fund became the 43rd asset management company. Old Bridge Capital, which applied for MF licence in July, 2021, was also granted in-principal nod last October.

Another three entities — Unifi Capital, Alpha Alternatives Fund Advisors and Wizemarkets Analytics — are waiting for SEBI approval to enter the MF spce. While Unifi Capital filed its application in December, 2020, Alpha Alternatives Fund Advisors and Wizemarkets Analytics have been waiting since last November and October.