Mirae Asset Financial Services Completes Merger with Sharekhan Financial Services Arm

Mirae Asset Financial Services (India), a non-banking financial company (NBFC), has completed the merger of its subsidiary Mirae Asset Sharekhan Financial Services Limited, bringing the lending operations of both entities under a single platform. The merger became effective on March 11.

Consolidation of Lending Businesses

Prior to the merger, Mirae Asset Sharekhan Financial Services focused primarily on secured lending products such as loans against securities, serving clients with large investment portfolios and higher-value borrowing needs.

In contrast, Mirae Asset Financial Services has been providing digital lending solutions, including loans against mutual funds, loans against shares, and personal loans, through digital platforms and partnerships, targeting a wider retail customer base.

Integrated Lending Platform

Following the consolidation, the combined entity aims to offer a broader lending platform that brings together digital retail lending and high-value secured financing.

Mirae Asset Financial Services said it will continue expanding its digital lending offerings while strengthening its loans-against-securities proposition through a combination of digital channels and assisted onboarding.

Krishna Kanhaiya, CEO of Mirae Asset Financial Services, said the merger enhances the company’s lending platform by combining digital capabilities with expertise in high-value financing. He added that existing customers’ loan accounts will continue to be serviced under the same terms and conditions.

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About Mirae Asset Financial Services

Established in 2020 and registered with the Reserve Bank of India, Mirae Asset Financial Services is part of the Mirae Asset Group. The company offers a range of secured and unsecured lending products, including loans against mutual funds, loans against shares, and personal loans through digital channels and partnerships.

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