Mirae Asset Financial Services Completes Merger with Sharekhan NBFC Arm to Expand Lending Platform
Consolidation Brings Lending Operations Under One Entity
Mirae Asset Financial Services, a non banking financial company, has completed its merger with Mirae Asset Sharekhan Financial Services Limited, an NBFC subsidiary of the group.The consolidation became effective on March 11 and brings the lending operations of both entities under Mirae Asset Financial Services.
The merger combines the strengths of both companies, integrating secured lending services with digital lending capabilities under a single platform.
Focus on Secured Lending and Digital Lending Solutions
Before the merger, Mirae Asset Sharekhan Financial Services primarily focused on secured lending products such as loans against securities. These offerings were largely designed for clients with substantial investment portfolios and higher value borrowing requirements.Mirae Asset Financial Services, in contrast, has been focused on digital lending solutions. Its offerings include loans against mutual funds, loans against shares, and personal loans delivered through digital platforms and strategic partnerships. The company’s services have been aimed at a broader retail customer base.
Combined Platform to Offer Expanded Lending Products
Following the merger, the combined entity plans to offer both digital retail lending and high value secured lending solutions.Mirae Asset Financial Services said it will continue providing its existing digital lending products while also expanding its loan against securities offerings. The company plans to support this expansion through a mix of digital and assisted onboarding processes.
Management Commentary on Strategic Integration
Krishna Kanhaiya, CEO of Mirae Asset Financial Services, said the merger strengthens the company’s lending platform by combining digital capabilities with expertise in high value financing.He also stated that existing customers will continue to have their loan accounts serviced under the same terms following the integration.
About Mirae Asset Financial Services
Mirae Asset Financial Services was established in 2020 and is registered with the Reserve Bank of India. The company is part of the Mirae Asset Group.It provides a range of secured and unsecured lending products, including loans against mutual funds, loans against shares, and personal loans, primarily delivered through digital channels and partnerships.
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