Mirae Asset Financial Group, headquartered in South Korea, has made a significant investment of Rs 1,240 crore in its Indian financial services arm, Mirae Asset Capital Markets (India) Private Limited.
The move is aimed at strengthening its capital markets business in India. With this latest funding, Mirae Asset’s total investment in India now stands at Rs 3,190 crore.
In a press release issued on Monday, the company expressed its belief in India’s “huge growth potential” as the driving force behind this funding. Robinson Francis, chief operating officer and additional director at Mirae Asset Capital Markets, emphasized the flow of capital from the headquarters as proof of its unwavering commitment to India.
Mirae Asset has been making waves in the market with its technology-driven approach, especially in India through its retail stock broking arm known as “M.Stock”. Within just a year of its launch, m.stock has achieved a turnover of Rs 1.4 trillion on its platform. The platform currently manages over 250,000 investor accounts, comprising 65% of its active client base of users.
Last year, M.stock introduced margin trading facility (e-margin), which has seen impressive growth, and now has a book size of over Rs 270 crore.
Mirae Asset Financial Group, through its investment subsidiary Mirae Asset Global Investments, also operates a mutual fund arm in India. As of May, this branch has registered assets of Rs 1.2 trillion.
As noted in the company’s release, this recent capital injection further strengthens Mirae Asset’s capabilities to drive efficient automated processes, seamless customer service, enhance IT infrastructure, and expand into institutional business and investment banking. Mirae Asset’s investment reflects its commitment to capitalize on the opportunities in India’s financial market and its determination to make a mark with its technology-driven solutions.
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