Mirae Asset Capital Markets

Mirae Asset Capital Markets

Mirae Asset Capital Markets (India) Private Limited functions as the onshore capital markets and advisory arm of the broader Mirae Asset Financial Group, headquartered in Mumbai. The firm aggregates investment banking, institutional sales and trading, and a disruptive discount retail brokerage under one roof. Its investment banking division provides services in equity and debt capital markets, M&A, and private equity fundraising, leaning on a global and domestic investor network. The strategy spans three liquidity profiles. The institutional business serves as execution partner for domestic and global funds, with sales desks covering fundamental analysis and trading desks moving across cash equities, derivatives, and fixed income. The retail arm — branded m.Stock — claims zero brokerage for life across equities, futures & options, currencies, mutual funds, and IPOs, with competitive interest rates on margin products. On the buy side, the firm discloses a private equity practice targeting buyout, growth, and recapitalization opportunities in undisclosed sectors. Public-facing metrics cite $800.3 billion in total client assets, $17.2 billion in equity capital, and $2.18 billion in pre-tax income, though the firm does not break these figures down by geography or business line. There are no publicly named principals or confirmed deployment figures, and the entity's separation from the listed Mirae Asset group entities remains unclarified in available disclosures. What distinguishes the structure is a single Indian-entity license combining proprietary investing, third-party capital intermediation, and a mass-market retail brokerage — an architecture that attempts to internalize the full investment-banking-to-retail value chain under one regulated roof. This concentration of functions is uncommon among India's financial conglomerates, which typically house these activities in separate listed subsidiaries.