New Delhi, Sept. 2 -- Market regulator Securities and Exchange Board of India (SEBI) has approved Zerodha's application for a merchant banking licence. The licence is not yet formally registered, and Zerodha still needs to complete all the remaining regulatory processes.

"We've received the licence and will start operations over the next couple of months," Mohit Mehra, whole-time director, Zerodha Corporate Advisors.

Zerodha Corporate Advisors had filed the application with SEBI on April 27, 2026, according to Sebi records.

If the licence is granted, Zerodha will be able to manage Initial Public Offerings (IPOs), advise companies on fundraising, and offer other merchant banking services.

Currently, the broking house has over 1.6 crore...