Mirae Asset Securities announced on Dec. 12 that it is acquiring Sharekhan Limited, an Indian brokerage firm. This marks a significant milestone as it comes five years after the company first entered the Indian capital market in 2018, a pioneering move by a South Korean securities firm.
On the same day, Mirae Asset Securities signed a Stock Purchase Agreement (SPA) with BNP Paribas SA to acquire Sharekhan. The purchase amount is approximately 300 billion rupees.
Mirae Asset Group has been expanding its international footprint ever since Chairman Park Hyun-joo took on the role of Global Strategy Officer (GSO). Following its acquisition of Global X, a U.S.-based thematic exchange-traded fund (ETF) management company in 2017, and the Australian management company Global X Australia (formerly ETF Securities) in 2022, the group has now successfully acquired GHCO in the U.K. and Sharekhan in India.
Mirae Asset Mutual Fund India, a subsidiary of Mirae Asset, is the only independent foreign capital management company in India. Established in 2006, it has grown to become the ninth-largest in India, managing a portfolio of around 41 trillion won.
Additionally, Mirae Asset Mutual Fund India, founded in 2006, has evolved into India’s ninth-largest asset management firm. As of 2023, it manages 37 funds with assets totaling approximately 41 trillion won, highlighting its significant presence in the Indian market.