Wealth First Portfolio Managers Limited has informed the Exchange regarding 'Intimation of Receipt of SEBI Mutual Fund License in Subsidiary Company.'.
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Wealth First Portfolio Managers Limited announced that its subsidiary, Lakshya Asset Management Private Limited, has received the final license from SEBI dated 25th March 2026. The license permits the subsidiary to act as an Asset Management Company (AMC) for launching and managing a Mutual Fund. This follows an earlier communication dated 8th May 2025, indicating the final regulatory clearance after the initial approval stage. The company is now positioned to enter the mutual fund industry through its subsidiary.
This is a positive development for shareholders as it opens a new revenue stream through mutual fund operations via the subsidiary. It could enhance long-term valuation but near-term stock price impact may be limited until the mutual fund is actually launched and AUM starts growing.