Sunshine Capital to foray into mutual fund distribution

Sunshine Capital has informed exchanges that its board has evaluated and approved the venture into the Mutual Fund distribution business.

“There is a growing demand for diverse investment opportunities, which is expected to drive additional revenue streams for the company… The Board expects the Company to tap into this rapidly expanding market by providing investors with a wide range of mutual fund products, thereby enhancing the service offerings and contributing to the company’s growth trajectory,” the company said in an exchange filing.

The board has resolved to adopt best fintech practices to enhance market penetration and operational efficiency.

Earlier, the company informed exchanges that its board has decided to move forward with expanding the company’s operations into the insurance broking business. According to the company, the move will allow it to better serve clients by offering personalized insurance solutions.

Recently, the company sanctioned an amount of Rs 1964 million to Man Stainless Steel Tubes Limited (MSSTL) to support the development of a state-of-the-art manufacturing unit in Kathua, Jammu & Kashmir. This project, which involves the production of Non-API Electric Resistance Welded (ERW) Carbon Steel Pipes, marks a significant expansion in the manufacturing sector, with a planned capacity of 250,000 metric tons per annum.