Nomura Holdings, one of Japan’s biggest financial institution, is set to enter the Indian equity business either through a joint venture or acquisition, a top Nomura official said here on Tuesday.
Hiroshi Toda, director, deputy president and COO of Nomura Holdings, said the institution would look at the acquisition route to enter India “as soon as possible” which is turning out to be the world’s most attractive market.
Last week, the financial sector was abuzz with rumours that Nomura was in talks with Enam Financial to take over its investment banking arm. Insiders say both companies are negotiating the price. Toda declined to comment on the Enam deal.
Toda said the company wants an existing stock broking licence for its India business and even consider asset management at a later date.
About how much Nomura is ready to pay for an acquisition, Toda said “as little as possible.” Toda said a lot of Japanese companies are now keen to invest in the Indian stock market to diversify their portfolio and high growth expected in the Indian economy.
Read more in The Business Standard article.
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