Ambit Finvest has partnered with Daiwa through a minority stake. It has raised primary capital of Rs 415 crore, a statement from Ambit Finvest notified.
The partnership will be carried out subject to completion of customary conditions precedent, and obtaining regulatory approvals, as may be required, it said.
Speaking in this regard, Vikrant Narang, Deputy CEO, Ambit Finvest, remarked, “Today signifies a significant milestone as we extend a warm welcome to Daiwa Securities, Japan, our new partner. Daiwa is infusing ~Rs 415 crore in our business thereby providing additional capital for growth. I would like to express my gratitude to the Daiwa team for their efforts in comprehending our vision and ultimately choosing to support our future endeavours.
“In addition, we have also raised an additional equity of ~Rs 275 crore from the existing shareholders and investors, further equitising our business.”
Last year, in May, Ambit Finvest had announced the partnership with Daiwa for a renewed business partnership, wherein both firms would collaborate to service global clients for institutional equities, as also for the Equity Capital Markets (IPO, public fund-raising and other related) business, leveraging the Indo-Japan corridor, it said.
The statement further mentioned that cementing the collaboration, Ambit and Daiwa aim to seize the growth opportunities in the expanding Indian Non-Banking Finance Company (NBFC) sector to contribute to the acceleration of financial inclusion.
