Nuvama wealth management establishes new mutual fund trusteeship subsidiary

Nuvama Wealth Management Limited announced on November 21, 2025, the incorporation of its wholly-owned subsidiary, Nuvama Mutual Fund Trusteeship Services Limited. The new entity was officially incorporated on November 20, 2025, and will operate in the financial service sector, focusing on mutual fund trustee services and other related activities.

The total cost of subscription for the new subsidiary is INR 50,00,000, divided into 5,00,000 equity shares, each with a face value of INR 10. Nuvama Wealth Management Limited holds a 100% shareholding and control over the new subsidiary through its full subscription to the initial paid-up share capital.

The incorporation is a strategic move to expand Nuvama's offerings within the financial services industry.