Angel One secures Rs 150cr in funding through QIP for strategic growth initiatives
Angel One Limited, a leading technology-led financial services company and the largest listed retail stock broking house in India in terms of active clients on the National Stock Exchange (NSE), announced a successful fundraise of ₹15,000 million through a Qualified Institutional Placement (QIP). This strategic financial move is aimed at bolstering the company’s growth trajectory, with a significant portion of the funds earmarked for working capital requirements, margin obligations, margin trading facilities, and general corporate purposes.
The issue, sized at ₹15,000 million, attracted a robust response from both domestic and foreign institutional investors, reflecting the market’s confidence in Angel One’s growth strategy and operational strength. Priced at a floor of ₹2,555.01 per equity share with a face value of ₹10 each, the fundraise resulted in the allotment of 89,879,006 total paid-up equity shares.
Mr. Dinesh Thakkar, Chairman and Managing Director of Angel One Limited, remarked on the successful completion of the QIP, highlighting it as a significant milestone in the company’s journey. He emphasized the transformative changes in the capital market landscape, driven by digitization and the deepening engagement of Indian retail investors. The continuous improvement in performance metrics such as gross client acquisition, number of orders, average daily turnover, turnover market share, and financial performance underlines the company’s strong position and potential for future growth.
Angel One Limited (NSE: ANGELONE, BSE: 543235) is renowned for its innovative use of Artificial Intelligence (AI), Machine Learning, and Data Science, creating a superior digital experience for over 22 million clients. Through its digital properties, including the Angel One Mobile App, ‘ARQ Prime’ recommendation engine, ‘SmartAPI’ platform, ‘Smart Money’ investor education platform, and ‘SmartStore’ marketplace, Angel One has established a formidable presence in the financial services sector, offering broking, advisory services, margin funding, and distribution of third-party financial products.
The strategic fundraise through QIP by Angel One Limited is a testament to the company’s forward-thinking approach and its commitment to leveraging technology to redefine the financial services landscape. The infusion of fresh capital is poised to accelerate the company’s growth initiatives, further solidifying its position as a market leader in the stock broking and financial advisory segments. As the company continues to innovate and expand its offerings, it is well-positioned to capitalize on the opportunities presented by the evolving capital market, driving success for its stakeholders and clients alike.