On November 28, 2024, Mirae Asset Financial Group announced the completion of its acquisition of Sharekhan, following the receipt of all required regulatory approvals. This marks a new chapter in both companies' journeys as Mirae Asset Sharekhan becomes part of the Mirae Asset family.
With this acquisition, Sharekhan will continue to develop its business and activities, leveraging Mirae Asset's global expertise to enhance offerings and extend financial services to clients across India. The integration of Mirae Asset’s international resources with Sharekhan’s established market position aims to create a comprehensive financial services platform catering to a diverse clientele.
This combination of integration and aspiration comes through in the new logo, which reflects the smooth amalgamation of the 2 entities coming together to cater to the flourishing aspirations—much like the skyward swoosh—of the Indian share market participant.
Mirae Asset’s decision to acquire Sharekhan aligns with its vision of establishing a robust presence in India’s retail brokerage market. Mr. Hyeon-Joo Park, Founder & GSO (Global Strategy Officer) of the Mirae Asset Financial Group, shared, “The acquisition of Sharekhan underscores Mirae Asset’s commitment to India as a key growth market. We are excited to combine Mirae Asset’s Permanent Innovator mindset and global reach with Sharekhan’s deep understanding of the Indian financial landscape to deliver new opportunities for wealth creation to our clients.”
A spokesperson for Mirae Asset Capital Markets India, stated, “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. Further, we would like to thank Jaideep Arora for all his contributions in making Sharekhan the brand that it is today. We wish him the best. Mr. Jisang Yoo, CEO, Mirae Asset Capital Markets India, will be appointed as the CEO of Mirae Asset Sharekhan.”
Mirae Asset Sharekhan clients can expect uninterrupted access to their accounts, platforms, and services, with the addition of Mirae Asset’s global investment options and tools, offering an even broader selection of financial products and advisory services.
MAS is a company incorporated under the laws of the Republic of Korea, on September 23, 1970, and is a public company listed on the Korea Exchange (Ticker: 006800). The registered office of MAS is at Mirae Asset CENTER1 Building, East Tower, 26, Euljiro 5 gil, Jung-gu, Seoul 04539, Korea. MAS is primarily engaged in investment banking, global brokerage, trading, wealth management, principal investment, and prime brokerage businesses and handles the management and administrative activities of Mirae Asset. Mirae Asset is a prominent global investment group encompassing comprehensive range of financial businesses across asset management, financial investment, life insurance, venture capital, financing and other related sectors, which are subject to regulation and supervision in their respective jurisdictions. Mirae Asset commenced its operations in India nearly 17 years ago by entering into asset management business in 2006. Over the past decade, Mirae Asset has continued expanding its business presence in India through establishment of Mirae Asset Investment Managers, MACM, Mirae Asset Venture Investments, Mirae Asset Financial Services (India) Private Limited., Mirae Asset Foundation and Mirae Asset Global Indices, as well as Global X Investment Managers (India), thereby offering various investment products and investment banking services for clients in India.
MACM is a private limited company incorporated on October 06, 2017, under the Companies Act, 2013, bearing corporate identification number U65990MH2017FTC300493, and has its registered office at 1st Floor, Tower 4, Equinox Business Park, LBS Marg, Off BKC, Kurla (W), Mumbai – 400070. MACM offers broking, advisory, depository participant, research analyst and investment banking services. It has a client base of approximately more than 1 million retail clients and more than 200 institutional clients which are serviced through more than 350 professionals. For rendering these services, MACM has obtained various registrations with SEBI viz. merchant banker, stockbroker, research analyst, and depository participant. Additionally, MACM is also registered as a mutual fund distributor with the Association of Mutual Funds in India. MACM is a wholly owned subsidiary of MAS and part of Mirae Asset.
Founded in 2000, Sharekhan was one of the first brokers to introduce online trading in India. With a client base of over 31 lakhs , 130 branches, and 4400 business partners, Sharekhan’s full-service model is Designed for the Serious. Sharekhan is renowned for its comprehensive range of trading and investment solutions, including equities, futures and options, portfolio management services, research, mutual funds, experienced relationship managers and investor education. On average, Sharekhan executes more than 10Lakh trades daily.
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