Mirae Asset Securities Achieves Full Ownership of Indian Subsidiary

Mirae Asset Securities, a South Korean financial services giant, has announced a substantial expansion of its operations in India by acquiring an additional 1,439,205,955 shares of its Indian subsidiary, Mirae Asset Capital Market Private. This acquisition, valued at 288.7 billion won, forms part of a rights issue and aims to increase Mirae Asset's shareholding in its Indian subsidiary to 100%. The move follows regulatory approvals from the Reserve Bank of India and the Securities and Exchange Board of India. To bolster its foothold in the Indian securities market, Mirae Asset has also signed a Share Purchase Agreement with Sharekhan, a leading Indian brokerage firm. With over 3.1 million clients and 120 branches, Sharekhan will be rebranded as Mirae Asset Sharekhan. Mirae Asset Securities aims to become a top 5 brokerage in India within five years, capitalizing on the fast-growing Indian securities industry driven by regulatory reforms and technological advancements.