360 ONE Asset Management Limited (AMC), a wholly owned subsidiary of the Company, has received approval from the Securities and Exchange Board of India (SEBI) to expand its business into international wealth and fund management services through its GIFT City subsidiary on May 22.
The company has received a ‘No Objection’ letter from the Securities and Exchange Board of India on May 21, 2026. This simply means that SEBI is okay with 360 ONE starting certain investment management activities from Gujarat International Finance Tec-City (GIFT City) through another company called “360 ONE Global Asset Management (IFSC) Limited”, which is owned by 360 ONE Asset Management.
What will they be allowed to do?
a) to provide management and advisory services to pooled assets, including offshore funds, insurance funds, pension funds, provident funds and permitted categories of Foreign Portfolio Investors
b) to provide portfolio management services and advisory services for funds other than broadly based funds.
GIFT City is India’s special international financial hub with tax and regulatory benefits.
AMC will infuse necessary capital into GAM and obtain the final registration certificate from the International Financial Services Centres Authority and commence fund/portfolio management activities at GIFT City in due course.
In an exchange filing, the company stated, “We would like to inform you that 360 ONE Asset Management Limited (“AMC”), a wholly owned subsidiary of the Company, has received ‘No Objection’ letter from Securities and Exchange Board of India on May 21, 2026, to undertake following activities permitted under Regulation 21(b) of the SEBI (Mutual Funds) Regulations, 2026 through 360 ONE Global Asset Management (IFSC) Limited (“GAM”), a wholly owned subsidiary of AMC, in Gujarat International Finance Tec-City (“GIFT City”): a) to provide management and advisory services to pooled assets, including offshore funds, insurance funds, pension funds, provident funds and permitted categories of Foreign Portfolio Investors; and b) to provide portfolio management services and advisory services for other than broad based funds”.
