Japan-based Daiwa Securities Group is set to invest around Rs2.86bn ($32m) in Ambit Wealth, a division of India-based financial services provider Ambit Group.
Under the agreement, Daiwa Securities will appoint one member to Ambit Wealth’s board of directors and recognise the company as an equity-method affiliate.
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Completion of the transaction remains subject to customary closing conditions and regulatory approval from authorities in India.
Ambit Wealth serves ultra-high-net-worth individuals and family offices in the country, with around $10bn in assets under management (AUM) as of 31 March 2025.
Daiwa president and CEO Akihiko Ogino said: “India is positioned as a key country in our overseas strategy due to its strong economic growth prospects.
“We have been developing business in India through our partnership with Ambit Group and following last year’s investment in Ambit Finvest, we are pleased to have the opportunity to invest in Ambit Wealth, which operates a high-growth wealth management business.
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By GlobalData“This will further strengthen our collaboration with Ambit Group and expand the scope of our India business.”
Ambit Group said the investment would expand its existing partnership with Daiwa and support the growth of Ambit Wealth, which operates as Ambit Global Private Client (GPC).
The investment is expected to enable Ambit GPC to provide a superior client experience, strategic geographic expansion, and further deepen its talent bench.
It is anticipated to strengthen the Indo-Japan corridor strategy, building on a series of collaborations.
In May 2023, Daiwa Securities and Ambit Group renewed their partnership to work together on equity capital markets and institutional equities, including IPOs and public fundraising, to serve global clients.
Daiwa acquired a minority stake in Ambit Finvest, in March last year, to support financial inclusion initiatives.
In April this year, Ambit opened the Ambit Global Private Client (Ambit GPC) office at the Dubai International Financial Centre (DIFC) in Dubai, UAE.
