Japanese brokerage firm Daiwa Securities on Thursday announced that it has entered into a definitive agreement to acquire a minority stake in Mumbai-headquartered Ambit Wealth Private Limited for nearly $32 million (Rs 286 crore).
As part of the agreement, Daiwa Securities will nominate a director to Ambit Wealth’s board, and following the acquisition of its stake, will classify the Indian firm as an equity-method affiliate, it said in a press statement.
The transaction remains subject to customary closing conditions and regulatory approvals.
“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… our investment in Ambit Wealth, which operates a high-growth wealth management business, will further strengthen our collaboration with Ambit Group and expand the scope of our India business,” said Akihiko Ogino, President and CEO of Daiwa.
Ambit Wealth provides financial advisory, brokerage, and consultancy services to ultra-high-net-worth individuals and family offices in India. Its assets under management (AUM) stood at nearly $10 billion as of March 31, 2025.
“The partnership with Daiwa empowers us to enhance our digital capabilities, expand our bespoke investment architecture, and attract exceptional talent. With Daiwa’s global pedigree complementing the Ambit ecosystem and as India surges ahead, we are well positioned for the next phase of growth as we support India’s most influential families in shaping their long-term wealth and legacy,” said Amrita Farmahan, CEO, Ambit Wealth.
