With the aim to grow its business overseas, financial services provider ASK Group today said it is open to strategic alliances with a foreign partners having distribution and research capabilities and presence in the South-East Asian market.
ASK Group would also evaluate selling stake to the prospective partner either in the Group or in the specific businesses within the Group, depending upon the strength of the partner, said CEO Rajesh Saluja.
"Indications show there would be huge demand for services from the Indian clients to spread their investment in the emerging markets and South-East Asia in particular in the next 2-3 years. We want to tap that opportunity," Saluja said.
Declining to give further details, he said ASK has mandated investment banking firm Berkshire Hathaway to guide it on the stake sell.
"The proposed partner should bring technology, access to global market and help us to grow our business," Saluja said.
ASK Group is an un-listed firm in which Saluja has some stake along with the two promoters - Asit and Sameer Koticha.
Set up in 1983, the Group has emerged as a leader in the areas of portfolio management and investment advisory services on the back of a reasonably strong research infrastructure.
The company which caters to high net worth individuals (HNIs) having wealth over Rs one crore, intends to manage up to $4 billion in the next three years and has a revenue target of Rs 100 crore.
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