Banking & Finance
Mirae Asset's Indian unit boosts retail brokerage services
It ranks sixth-largest online brokerage service provider in India; its online trading platform attracts local retail customers
By Feb 27, 2024 (Gmt+09:00)
1
Min read
Most Read
Samsung steps up AR race with advanced microdisplay for smart glasses


When in S. Korea, it’s a ritual: Foreigners make stops at CU, GS25, 7-Eleven


Maybe Happy Ending: A robot love story that rewrote Broadway playbook


NPS yet to schedule external manager selection; PE firms’ fundraising woes deepen


US auto parts tariffs take effect; Korea avoids heavy hit



South Korean brokerage house Mirae Asset Securities Co. said on Tuesday that the number of its retail customer accounts in India, one of the world’s fast-growing markets in the post-China era, has exceeded 1 million.
Since the Korean firm established Mirae Asset Capital Markets (India) Pvt. in 2018, the Indian unit has become the eighth-largest online brokerage service provider in India in terms of the number of retail accounts. It is the 16th-largest in the overall brokerage service market in India, Mirae Asset said.
The Indian unit has an average of 2.1 million transactions, with customer assets and balances in margin trading funding (MTF) reaching 730 billion won ($548.5 million) and 180 billion won, respectively.
Mirae Asset plans to launch m.Stock 2.0 this year, an upgraded version of its online trading platform, to improve its financial services in the South Asian country.
The Indian unit increased its equity to $450 million through a rights offerings in May last year to strengthen local marketing. Last December, it signed an agreement to buy a full stake in Sarekhan Ltd., India’s 10th-largest brokerage house, to expand its presence there.
Backed by Sharekhan’s local networks and business, Mirae Asset aims to become one of the top five brokerage firms within five years.
“We are pleased with the great progress we’ve made in 22 months since the launch of m.Stock in April 2022. We will continue to strive to lead India’s brokerage market through best-in-class technology, innovative business models and various channels,” said the Indian affiliate’s Chief Business Officer Arun Chaudhry.
Write to See-Eun Lee at see@hankyung.com
Jihyun Kim edited this article.
More to Read
-
-
Corporate investmentLG Electronics breaks ground on $600 mn home appliance plant in India
7 HOURS AGO
-
-
E-commerceCoupang’s Q1 revenue up; quarterly dip signals rising competition
May 07, 2025 (Gmt+09:00)
-
Asset managementKorea Investment & Securities deepens global ties with 2nd IR in New York
May 07, 2025 (Gmt+09:00)
Comment 0
LOG IN