Online brokerage firm Zerodha has applied to capital markets regulator Sebi for a merchant banking licence as it looks to expand its financial services offerings.
The application was filed through its wholly-owned subsidiary Zerodha Corporate Advisors Pvt Ltd, according to Sebi records.
The application, submitted on April 27, is currently under review.
If the licence is granted, Zerodha will be able to manage Initial Public Offerings (IPOs), advise companies on fund raising, and offer other merchant banking services.
Currently, the broking house has over 1.6 crore customers, who place billions of orders every year.
