Mirae Asset infuses Rs 1,240 crore in its Indian broking arm

In little over a year of starting its business, m.Stock claims to have generated Rs 1.4 lakh crore in turnover on its platform from 2.5 lakh paid accounts and 65 percent active clients.

Mirae Asset Capital Markets, which deals in securities, said on June 12 that it received a capital infusion of Rs 1,240 crore from its headquarters in Seoul. The latest inflow takes the company's total funding value to Rs 3,190 crore.

The funds will be used to build efficient automated processes, seamless customer service experience, enhance IT infrastructure and drive penetration in institutional business and investment banking, it said.

“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 company said in a press statement.

In little over a year of starting its business, m.Stock claims to have generated Rs 1.4 lakh crore in turnover on its platform from 2.5 lakh paid accounts and 65 percent active clients. Since the launch of its Margin Trading Facility (eMargin) in July 2022, the feature has reported a book size of over Rs 270 crore.

"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) Pvt. Ltd.

“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."