Mirae Asset gets ₹1,240 cr. fresh capital infusion
Mirae Asset Capital Markets India, the broking arm of a Korean fund house, on Monday said it had received a fresh capital infusion of ₹1,240 crore from its parent, bolstering its growth capital.
With this latest capital injection, Mirae Asset India has received a total funding of ₹3,190 crore, reflecting the parent’s belief in the growth potential of this market, apart from reinforcing the Korean fund house’s commitment to expanding its presence in the country.
Mirae Asset is poised to provide high-quality services and disrupt the market with its tech-driven approach at its retail stock broking arm m.Stock.
In a little over a year, m.Stock has generated ₹1.4 lakh crore in turnover on its platform from 2.5 lakh paid accounts and 65% active clients. Since the launch of its margin trading facility last July, the feature has reported a book size of over ₹270 crore, largely due to the competitive rates, which range from 6.99 -9.49% per annum.
According to Robinson Francis, the chief operating officer & additional director at Mirae Asset Capital Markets India, the latest capital infusion underscores the group’s commitment to this market.
Mirae Asset Capital Markets India was established in October 2017 and m.Stock is its ibrokerage trading platform, which offers investment opportunities across different asset classes. It also offers a zero brokerage account at a one-time account opening fee, allowing investors to trade effortlessly and transparently.
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