Equity management firm Qapita buys India-based ESOP Direct

Singapore-based equity management firm Qapita has acquired India’s ESOP Direct in an all-cash deal.

Qapita acquires ESOP Direct

The combined entity will manage more than $12 billion worth of employee stock ownership plans (ESOP).

Qapita says the acquisition will boost its presence across India, expanding its customer base of both listed and unlisted clients to more than 1,200 companies.

The firm claims it will also become the only digital equity management solutions company that can serve businesses through their entire lifecycle from seed stage through to post-IPO.

Qapita CEO and co-founder Ravi Ravulaparthi says: “This acquisition is an important step to executing our vision of creating one unified platform for all equity matters, in our bid to build rails for the private markets.”

Harshu Ghate, co-founder and managing director of ESOP Direct, says the merger is a “logical progression” for the firm.

“The coming together of our two businesses will complement each other’s strengths and helps our clients and employees to deliver downstream financial transaction services through a unified platform,” Ghate adds.