NEW DELHI (dpa-AFX) - Daiwa Securities Group Inc. (DSE.F, 8601.T) announced Thursday its deal to invest approximately 2.86 billion Indian Rupees or approximately 5.0 billion Japanese yen in India-based Ambit Wealth Private Limited.
The company also plans to appoint an officer to the board of directors of Ambit Wealth and to recognize the firm as an equity-method affiliate.
Daiwa expects to carry out the investment immediately subject to completion of customary conditions precedent and receipt of a regulatory approval from relevant authorities in India.
Ambit Wealth provides services to Ultra-High-Net-Worth individuals and family offices in India. The company's assets under management or AUM has been $10 billion as of March 31, 2025.
With the investment into Ambit Wealth, Daiwa said it aims to seize the growth opportunity in the expanding Indian wealth management business.
Regarding the investment, Akihiko Ogino, President and CEO of Daiwa, 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 Private Limited, we are pleased to have the opportunity to invest in Ambit Wealth, which operates a high-growth wealth management business.'
On the Tokyo stock exchange, Daiwa shares were gaining around 2.5 percent to trade at 1,350.50 yen.
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