Zerodha’s application for a merchant banking licence has been cleared by market regulator Sebi, paving the way for the discount broker to enter investment banking as it expands beyond its core broking business, according to reports. The formal registration process is yet to be completed. Once the registration is in place, Zerodha will be able to offer merchant banking services.
The move marks another step in Zerodha’s attempt to build a wider financial services platform. Over the past few years, the Bengaluru-based company has expanded from stockbroking into asset management, lending and private investments.
