Mirae Asset completes acquisition of Sharekhan

Mirae Asset Financial Group on Thursday said it completed the acquisition of stock broking company Sharekhan, following all required regulatory approvals.

Post this acquisition, Sharekhan will continue developing its business and activities by leveraging Mirae's global expertise and reach. The acquisition is part of Mirae's larger vision of establishing a robust presence in India’s retail brokerage market.

Sharekhan is involved in stock broking, commodities, and currency derivatives broking.

"Sharekhan's presence across India, combined with Mirae Asset's dedication to innovation and client satisfaction, creates a synergy that we believe will propel Sharekhan into a new phase of growth. Our goal is to deliver an unparalleled wealth creation experience to clients in India and further our commitment to digital innovation and accessible financial solutions," noted a spokesperson of Mirae Asset Capital Markets India.

Post close, Jisang Yoo, CEO of Mirae Asset Capital Markets India, will be appointed as the CEO of Mirae Asset Sharekhan, the company said.

Mirae Asset Sharekhan clients will continue to enjoy seamless access to their accounts, platforms, and services, along with Mirae Asset’s global investment options and tools. The integration will offer an expanded range of financial products and advisory services.

In April this year, the Competition Commission of India (CCI) approved the acquisition of Sharekhan and Human Value Developers by Mirae Asset Capital Markets (India) and Mirae Asset Securities.