First Water Capital Advisors SEBI Mutual Fund Guidance Request

First Water Capital Advisors LLP requests an SEBI interpretive letter on mutual fund sponsor net worth compliance.
The query concerns Regulation 5(1)(e) requiring a Rs. 150 crore sponsor-contributed net worth for AMC registration.
The applicant asks if Rs. 50 crore equity and Rs. 100 crore redeemable preference shares meet this requirement.
A fee of Rs. 59,000 was paid for this informal guidance request under the SEBI scheme of 2025.