Daiwa buys minority stake in Ambit Wealth in $32 million deal
Daiwa buys minority stake in Ambit Wealth in $32 million deal
Ambit said the investment will be used to strengthen its digital stack, broaden its investment platform and support geographic expansion.
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Ashok Wadhwa, Group CEO of Ambit, said the expanded partnership was a natural progression of the two groups’ long-standing collaboration across institutional equities and lending.
Ambit Global Private Client, the wealth management arm of Ambit Group, said Daiwa Securities Group entered a definitive agreement to acquire a minority stake in Ambit Wealth Private Limited. The all-primary capital infusion of about $32 million will support the next phase of expansion.
Ambit GPC, set up in 2020, manages close to $10 billion for UHNW clients across Mumbai, Delhi, Bengaluru and the Dubai IFC. The firm has scaled through a mix of proprietary public-market strategies, private-market deal access, fixed-income capabilities, capital markets execution and offshore investment platforms.
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Ambit said the investment will be used to strengthen its digital stack, broaden its investment platform and support geographic expansion.
Amrita Farmahan, CEO of Ambit Global Private Client, said the partnership with Daiwa would accelerate the firm’s strategic priorities and help attract talent.
Ashok Wadhwa, Group CEO of Ambit, said the expanded partnership was a natural progression of the two groups’ long-standing collaboration across institutional equities and lending.
Daiwa President and CEO Akihiko Ogino said India remained a key overseas market and that the investment would deepen the group’s presence in the country’s fast-growing wealth management space.
As part of the alliance, Daiwa will nominate a director to the board of Ambit Wealth. The transaction remains subject to customary closing conditions and regulatory approvals. Ambit said the investment strengthens the Indo-Japan corridor strategy the two groups have been building through a series of collaborations. The firms renewed their partnership in May 2023 to work together in Institutional Equities and Equity Capital Markets, including IPOs and other public fund-raising. In March 2024, Daiwa also acquired a minority stake in Ambit Finvest to support its financial inclusion agenda.
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With the latest investment in Ambit GPC, both firms reiterated their commitment to expanding their partnership across India’s financial services ecosystem. Ambit said the new capital would reinforce its “high-touch, high-tech” client delivery model and support its next leg of growth.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Ambit Global Private Client, the wealth management arm of Ambit Group, said Daiwa Securities Group entered a definitive agreement to acquire a minority stake in Ambit Wealth Private Limited. The all-primary capital infusion of about $32 million will support the next phase of expansion.
Ambit GPC, set up in 2020, manages close to $10 billion for UHNW clients across Mumbai, Delhi, Bengaluru and the Dubai IFC. The firm has scaled through a mix of proprietary public-market strategies, private-market deal access, fixed-income capabilities, capital markets execution and offshore investment platforms.
Advertisement
Ambit said the investment will be used to strengthen its digital stack, broaden its investment platform and support geographic expansion.
Amrita Farmahan, CEO of Ambit Global Private Client, said the partnership with Daiwa would accelerate the firm’s strategic priorities and help attract talent.
Ashok Wadhwa, Group CEO of Ambit, said the expanded partnership was a natural progression of the two groups’ long-standing collaboration across institutional equities and lending.
Daiwa President and CEO Akihiko Ogino said India remained a key overseas market and that the investment would deepen the group’s presence in the country’s fast-growing wealth management space.
As part of the alliance, Daiwa will nominate a director to the board of Ambit Wealth. The transaction remains subject to customary closing conditions and regulatory approvals. Ambit said the investment strengthens the Indo-Japan corridor strategy the two groups have been building through a series of collaborations. The firms renewed their partnership in May 2023 to work together in Institutional Equities and Equity Capital Markets, including IPOs and other public fund-raising. In March 2024, Daiwa also acquired a minority stake in Ambit Finvest to support its financial inclusion agenda.
Advertisement
With the latest investment in Ambit GPC, both firms reiterated their commitment to expanding their partnership across India’s financial services ecosystem. Ambit said the new capital would reinforce its “high-touch, high-tech” client delivery model and support its next leg of growth.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
