Buisness

Mirae Asset Receives a $1,240,000,000 New Capital Infusion

The brokerage division of a Korean investment firm, Mirae Asset Capital Markets India, said on Monday that its parent company has provided a new capital injection of Rs 1,240 crore, boosting its growth capital.

 

With this most recent capital infusion, Mirae Asset India has now received a total financing of Rs 3,190 crore, demonstrating the parent’s confidence in the market’s development potential as well as the Korean fund house’s dedication to growing its position in the nation.

With its tech-driven strategy at its retail stock broking business, m.Stock, Mirae Asset is ready to provide top-notch services while disrupting the industry.

 

With 2.5 lakh premium accounts and 65% active users, m.Stock has earned Rs 1.4 lakh crore in revenue on its platform in little over a year. Since the facility’s introduction in July of last year, it has recorded a book size of over Rs 270 crore, partly as a result of the competitive rates, which range from 6.99 to 9.49% annually.

 

The most recent capital injection, in the opinion of Robinson Francis, chief operating officer and extra director at Mirae Asset Capital Markets India, highlights the group’s dedication to this market.

 

In October 2017, Mirae Asset Capital Markets India was founded.Its trading platform, called Stock, provides investment options across many asset types. Additionally, for a one-time account setup charge, it provides zero brokerage accounts, enabling investors to transact easily and openly.

 

 

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