India Business

Mirae Asset Global Investments (India) Private Limited (the “Company” or “MAGI India”) was originally incorporated on November 20, 2006 as Mirae Asset India Investment Company Private Limited under the Companies Act, 1956. Subsequently, the Company changed its name to Mirae Asset Global Investment Management (India) Private Limited on July 26, 2007 and thereafter adopted its present name, Mirae Asset Global Investments (India) Private Limited, on October 27, 2008. The Company serves as the holding and operating company for various financial services businesses of Mirae Asset Global Investments Co., Ltd., Korea, in India.

Historically, MAGI India acted as the Asset Management Company ("AMC") of Mirae Asset Mutual Fund. Pursuant to an application made to the Securities and Exchange Board of India (SEBI), approval was granted on November 20, 2019 for the change of AMC of Mirae Asset Mutual Fund from Mirae Asset Global Investments (India) Private Limited (MAGI India) to Mirae Asset Investment Managers (India) Private Limited ("MAIMI"). Consequently, the mutual fund asset management business was transferred to MAIMI, while MAGI India continues to operate as a separate holding and investment platform for other financial services activities within the Mirae Asset group in India.