South Korea’s Mirae Asset bets big on Indian market

Mirae Asset Capital Markets announced today that it has received capital infusion of Rs 1,240 crore from its headquarters in Seoul, South Korea. 

With this latest, Mirae Asset Capital Markets has reached a total funding value of Rs 3,190 crore, reflecting its headquarters’ belief in the enormous growth potential of the Indian market, which has exhibited relative stability amidst global economic volatility.  

Mirae Asset is poised to provide high quality services and disrupt the market with its tech-driven approach at m.Stock, its retail stock broking arm.  

The capital infusion further strengthens the company’s ability to build efficient automated processes, seamless customer service experience, enhance its IT infrastructure, and drive penetration in institutional business and investment banking too, solidifying its potential to be a leader in this space in India, stated a release. 

In little over a year, m.Stock has generated Rs 1.4 lakh crore in turnover on its platform from 250,000 paid accounts and 65 per cent active clients. Since the launch of its margin trading facility (eMargin) last July, the feature has reported a book size of over Rs 270 crore. This has been possible largely due to the competitive rates offered by them that range from 6.99–9.49 per cent per annum. 

“India’s potential for growth is evident as it has demonstrated remarkable stability amidst a volatile economic climate successfully managing factors like inflation and growth rates,” said Robinson Francis, Chief Operating Officer & Additional Director, Mirae Asset Capital Markets (India). 

“The infusion of capital from headquarters underscores our unwavering commitment to India. This investment also serves as a testament to the confidence we have in the business model, the team, and the potential for remarkable accomplishments of providing comprehensive and innovative financial solutions to meet the evolving needs of our esteemed clients throughout the country,” he added. 

m.Stock offers seamless investment solutions like a zero-brokerage account at a one-time account opening fee, allowing investors to trade effortlessly and transparently. 

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