Zerodha Seeks SEBI Approval to Expand Into Investment Banking Business

Zerodha is preparing to expand into the investment banking business after applying for a Category I merchant banking licence from the Securities and Exchange Board of India (SEBI) through its wholly owned subsidiary, Zerodha Corporate Advisors Pvt Ltd. The application, filed on April 27, is currently under review. If approved, the licence will allow the company to manage IPOs, advise businesses on fundraising, mergers and acquisitions (M&A), and offer a range of merchant banking services. The move is part of Zerodha’s broader strategy to diversify beyond its core broking business and strengthen its financial services portfolio.