Hotline: 1800 102 2007
X
Search Business Opportunities
Apr, 20 2018

Ashok Wadhwa to buy QInvest’s 26% Ambit stake; Saurabh Mukherjea Chooses Exit

Wadhwa also confirmed the resignation of Saurabh Mukherjea, who headed the Ambit Group’s institutional equities and wealth management verticals.

Ace dealmaker Ashok Wadhwa, group CEO at Ambit Holdings, will acquire Qatari investment firm QInvest LLC’s 26% stake in the financial services group, according to a media report.

Wadhwa said that he would, alone or along with other Ambit employees, buy the stake “anytime soon”. Wadhwa didn’t disclose the timing or value of the deal that will help QInvest exit its decade-long investment in the Mumbai company.

Qatari royal family last year had said, through its investment banking firm QInvest was looking to fully divest its stake in Ambit Pvt. Ltd but was facing difficulty finding the right buyers at the preferred valuation.

In a separate development, Wadhwa also confirmed the resignation of Saurabh Mukherjea, who headed the Ambit Group’s institutional equities and wealth management verticals. Mukherjea, having spent nearly eight years at Ambit Capital, will officially step down in the July-September quarter, the report added.

Ambit Capital managing director Pramod Gubbi will now head the institutional equities business. Wadhwa and Ambit Group co-CEO Rahul Gupta will now operate the asset management and private wealth business.

Comment
image
Related opportunities
  • Hotel Chain
    About Us: MINT Brand was founded in Nov. 2015 with a..
    Locations looking for expansion Maharashtra
    Establishment year 2015
    Franchising Launch Date 2018
    Investment size Rs. 50lac - 1 Cr.
    Space required 000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • Fine Dine Restaurants
    About Us: Located in Andheri, The newest eatery to make its way..
    Locations looking for expansion Maharashtra
    Establishment year 2017
    Franchising Launch Date 2018
    Investment size Rs. 1 Cr. - 2 Cr
    Space required 2000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • Kitchen
    About Us: Ellementry is the perfect blend of handcrafted art manufacturing..
    Locations looking for expansion Rajasthan
    Establishment year 2018
    Franchising Launch Date 2019
    Investment size Rs. 50lac - 1 Cr.
    Space required 500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Jaipur Rajasthan
  • Online Food Ordering Services
    About Zomato : Founded by Deepinder Goyal in 2008, Zomato is..
    Locations looking for expansion Delhi
    Establishment year 2004
    Franchising Launch Date 2018
    Investment size Rs. 20lac - 30lac
    Space required 1800
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
Insta-Subscribe to
Entrepreneur
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities