Mirae Asset Capital Markets on Monday received a capital infusion of INR 1,240 crore from its headquarters in Seoul, South Korea.
With this latest capital injection, Mirae Asset Capital Markets has reached a total funding value of INR 3,190 crore reflecting its headquarters’ belief in the enormous growth potential of the Indian market.
This also reinforces Mirae Asset's commitment to expand its presence in the country.
With Indian markets exhibiting relative stability amidst global economic volatility, Mirae Asset recognises the immense growth potential that lies ahead. 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 recent 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.
In little over a year, m.Stock has generated INR 1.4 lakh crore in turnover on its platform from 2.5 lakh 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 INR 270 crore. This has been possible largely due to the competitive rates offered by them which ranges from 6.99 per cent - 9.49 per cent p.a.
Robinson Francis, Chief Operating Officer & Additional Director, Mirae Asset Capital Markets (India) Pvt. Ltd, said, "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. 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."
With a growing base of users and its commitment to delivering exceptional customer service, Mirae Asset is well-equipped to fulfil the evolving needs of its diverse clientele and drive substantial growth in the dynamic Indian market.
