Key Event and Regulatory Update
SEBI, via a letter dated September 2, 2026, has extended the validity of the in-principle approval granted to the company for the sponsorship and setup of its proposed mutual fund. The validity has been extended for a period of six months from June 29, 2026. The grant of the final approval for registration is contingent upon the company fulfilling all requirements set out by SEBI in its letter within this six-month period.
Corporate Structure and Implementation Plan
The company will proceed with establishing the mutual fund, which involves the incorporation of two new wholly-owned subsidiaries (WOS):
1. Asset Management Company (AMC): To be named "Ashika Global Asset Management Private Limited" or another name as approved by the Ministry of Corporate Affairs (MCA).
2. Trustee Company: Details are provided in a separate annexure, confirming the setup of a dedicated trustee company.
Upon incorporation, both entities will become wholly-owned subsidiaries of Ashika Global Securities Limited and will consequently be classified as related parties under applicable regulations. The industry for the AMC is defined as "Financial Services – Asset Management" and for the trustee company as "Financial Services – Trustee Services / Trust Management".
Financial and Consideration Details
The subscription to the share capital of both proposed subsidiaries will be through a cash consideration. The initial share capital is to be subscribed at face value at the time of incorporation. The company will acquire a 100% shareholding in both entities.
Document and Signatory Details
- Addressee: General Manager, Department of Corporate Service, BSE Ltd.