Photo=Mirae Asset Securities

 

 

[Alpha Biz= Kim Sangjin] Mirae Asset Securities announced on Thursday that it will acquire an additional 1.44 billion shares of its Indian subsidiary, Mirae Asset Sharekhan, for 2.887 trillion KRW.


After the capital increase, the total number of shares will reach 5.632 billion, giving Mirae Asset Securities a 100% stake in Mirae Asset Sharekhan.


Mirae Asset Securities' Indian subsidiary acquired Sharekhan in December 2023 through a share purchase agreement (SPA) with the local securities firm’s shareholders. The merger was approved by the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI) in November of the previous year.


Sharekhan has now been rebranded as "Mirae Asset Sharekhan" and launched under its new identity. Mirae Asset Securities has set a goal to become the 5th largest securities firm in India within the next five years, using the acquisition of Sharekhan as a stepping stone.

 

 

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