Hotline: 1800 102 2007
Hotline: 1800 102 2007
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.

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

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.

sharebtn
Comment
user
email
mobile
address
star
Related opportunities
  • Healthcare Products
    Healthy Rabbit, a venture of Infinite E-Health Solutions LLP, is..
    Locations looking for expansion Uttarakhand
    Establishment year 2019
    Franchising Launch Date 2020
    Investment size Rs. 5lac - 10lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Dehradun Uttarakhand
  • Car Wash / Ceramic Coating / Detailing
    ØCar detailing is the recession-proof business, as the demand for..
    Locations looking for expansion Maharashtra
    Establishment year 2018
    Franchising Launch Date 2019
    Investment size Rs. 10lac - 20lac
    Space required 500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Pune Maharashtra
  • Oil Filtration Services
    About Us: Advanced Agrotech was incorporated in 2012 and is a..
    Locations looking for expansion Gujarat
    Establishment year 2012
    Franchising Launch Date 2019
    Investment size Rs. 30lac - 50lac
    Space required 5000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Ahmedabad Gujarat
  • Juices / Smoothies / Dairy Parlors
      Format Investment Brand Fee Space Staff Exp. Monthly Sales ..
    Locations looking for expansion Maharashtra
    Establishment year 2018
    Franchising Launch Date 2019
    Investment size Rs. 5lac - 10lac
    Space required 120
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mulshi Maharashtra
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities