scorecardJapanese investment bank Daiwa to buy minority stake in Ashok Wadhwa’s Ambit
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Japanese investment bank Daiwa to buy minority stake in Ashok Wadhwa’s Ambit

Japanese investment bank Daiwa to buy minority stake in Ashok Wadhwa’s Ambit
Business2 min read
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  • With the stake sale, Ambit will gain access to Daiwa’s global network and be able to take its products and services to global markets.
  • On the other hand, Daiwa will also get an opportunity to utilise Ambit’s networks and expand its operations in India.
  • Through the partnership, both the companies will collaborate to serve global clients in institutional equities and equity capital markets, leveraging the Indo-Japan corridor.
Japanese investment bank Daiwa Securities Group on Monday said it will acquire a minority stake in Mumbai-based investment bank Ambit Private that is led by Ashok Wadhwa. The financial details of the deal were not disclosed.

With the stake sale, Ambit will gain access to Daiwa’s global network, which is one of the largest regional broking houses in the Asia-Pacific region, and will be able to further take its products and services to the global markets, according to a press release. Ambit will also leverage Daiwa’s institutional broking expertise.

On the other hand, Daiwa will get an opportunity to utilise Ambit’s networks and expand its operations in India.

“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 therefore build a strong India franchise through the Ambit network,” the release said.

Through the partnership, both the companies will collaborate to serve global clients in institutional equities and equity capital markets (IPO, public fund-raising and other related business), leveraging the Indo-Japan corridor.

The deal, which was signed on April 26, 2023, will be carried out subject to completion of customary conditions precedent and obtaining regulatory approvals, as may be required.

Seiji Nakata, president and chief executive officer of Daiwa, said that the company sees India as a strategically important country, which is expected to grow in the long run. “I’m pleased that Daiwa will be able to offer more investment opportunities to our clients with Ambit Group, thanks to this renewed business partnership,” he said.

And considering that Ambit Group has dealt with securities businesses and non-banking finance company (NBFC) businesses, it enables them to provide the most proper solution to various client segments, he added.

“We are delighted to partner with Daiwa in this new avatar. Having built a strong and mutually beneficial foundation with Daiwa over the years, I am confident that this continued relationship will be fruitful, not only to our clients, but also to both firms. We see India’s growth story blossoming and with Daiwa on board, investment avenues for clients, further open up. This is certainly a milestone in our journey that we will celebrate,” said Wadhwa, group CEO of Ambit.



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