Japan’s Daiwa To Acquire Minority Stake In Ambit

Japanese investment bank Daiwa Securities Group Inc. will acquire a minority stake in India’s Ambit Private Ltd., which provides financial advice and capital.

The deal, which was signed on 26 April, will be carried out subject to completion of customary conditions and obtaining regulatory approvals, Ambit said in a statement.

Ambit didn’t disclose the financial details and the stake that Daiwa, which has been associated with the Indian company historically to expand its business, is looking to acquire.

The Economic Times reported that Daiwa will acquire a little over 15% stake in Ambit, which is engaged in the investment banking, asset management, institutional equities (research, sales and sales trading) and lending.

The deal will grant Ambit access to Daiwa’s global network, and boost its efforts to bring the India public equities opportunity to global clients, according to the statement.

Similarly, Daiwa’s enhanced presence in India with Ambit as its local partner, will allow for clients to access deep domain knowledge, showcase focused India equity research, and build a strong India franchise through the Ambit network, it said.

“The investment, coupled with the steady growth of the Indian economy will set the stage for both businesses to further flourish in India,” Ambit said.

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