Mirae Asset Securities announced on Feb. 27 that its retail customer accounts in India have surpassed 1 million.
Since launching its online trading platform m.Stock in the country in April 2022, Mirae Asset Securities India has risen to become the eighth largest online brokerage firm in the country and the 16th largest overall in less than two years.
Mirae Asset Securities India has an average daily trading volume of 2.14 million trades, with client assets and MTF of approximately KRW 730 billion and KRW 180 billion, respectively.
This year, Mirae Asset Securities India plans to launch m.Stock 2.0 and accelerate customer acquisition through enhanced service offerings.
Since establishing its Indian subsidiary in 2018, Mirae Asset Securities has been strengthening its local brokerage business with aggressive online marketing, including increasing its capital to $450 million through a capital increase in early May last year.
Meanwhile, in December last year, the company signed a share purchase agreement (SPA) to acquire Sharekhan Limited, a local brokerage firm in India. Founded in 2000, Sharekhan Limited is a top 10 local industry player with more than 3,500 employees and approximately 3 million total accounts.
