Zerodha will soon offer investment banking services in India

Zerodha will soon offer investment banking services in India

Zerodha, India's leading discount broking platform, is gearing up to foray into the investment banking sector. The move marks a major expansion of its financial services portfolio.

The Bengaluru-based company has applied for a Category-I merchant banking license with the Securities and Exchange Board of India (SEBI).

The application was filed in April and is currently awaiting regulatory approval.

What did Zerodha say?

Confirming the development, a Zerodha spokesperson told Business Standard, "We have filed application for the merchant banking (category 1) license with Sebi. We will be able to share more about our business plans once we receive the license."

Once approved, this license would allow Zerodha to manage initial public offerings (IPOs), advise companies on fundraising strategies, and provide a wider range of corporate finance and issue-management services.