Ashika Global Securities to Incorporate Two Wholly-Owned Subsidiaries

Ashika Global Securities Ltd announced its intention to incorporate two wholly-owned subsidiaries: 'Ashika Global Asset Management Private Limited' and 'Ashika Global Trustee Company Private Limited'. This move is part of the company's strategy to set up a Mutual Fund, for which SEBI has extended the in-principle approval validity by six months. The proposed entities will operate in the Financial Services - Asset Management sector. The incorporation is planned in India with cash consideration, and the initial share capital will be subscribed at face value. This development signifies a strategic step towards expanding the company's presence in the asset management space.