Angel One (company)

Last updated

Angel One Limited
Angel One
Company type Public
ISIN INE732I01013
Industry Financial services
Founded8 August 1996;29 years ago (1996-08-08)
FounderDinesh D. Thakkar
HeadquartersAckruti Trade Center, Andheri (E),
Mumbai, Maharashtra
,
India
Area served
India
Key people
  • Dinesh Thakkar
    (Chairman & MD)
RevenueIncrease2.svg₹4,272 crore (US$510 million) (2024)
Increase2.svg₹1,693 crore (US$200 million) (2024)
Increase2.svg₹1,126 crore (US$130 million) (2024)
Total assets Increase2.svg₹13,253 crore (US$1.6 billion) (2024)
Total equity Increase2.svg₹3,037 crore (US$360 million) (2024)
Subsidiaries
  • Angel Financial Advisors Pvt. Ltd.
  • Angel Fincap Pvt. Ltd.
  • Angel Securities Ltd.
  • Angel Wellness Pvt. Ltd.
  • Mimansa Software Systems Pvt. Ltd.
Website www.angelone.in

Angel One Limited, formerly known as Angel Broking Limited, is an Indian stockbroker firm established in 1996. The company is a member of the Bombay Stock Exchange, [1] National Stock Exchange of India, National Commodity & Derivatives Exchange Limited and Multi Commodity Exchange of India Limited. [2] It is a depository participant with Central Depository Services Limited (CDSL). [3]

Contents

History

Angel Broking was incorporated on 8 August 1996 as a private limited company. [4] Later, Angel Broking was incorporated as a wealth management, retail and corporate broking firm in september, 1997. [5] In November 1998, Angel Capital and Debt Market Ltd. gained membership of National Stock Exchange as a legal entity. [6] The company opened its commodity broking Division in April, 2004. [7] In November 2007, Birla Sun Life Insurance joined hands with Angel Broking for distribution of its insurance products. [8] The International Finance Corporation bought an 18% stake in Angel Broking for ₹152 crore (equivalent to ₹459 croreorUS$54 million in 2023) in December 2007. [9] The company opened an office in Karol Bagh, New Delhi in October 2012. [10]

In January 2013, a probe found the company and two other entities involved in fraudulent and unfair trade practices in transactions of shares of Sun Infoways during Feb-May 2001. As a result, SEBI restrained from taking new clients for a period of two weeks. [11] Angel filed an appeal against the SEBI order which was dismissed by the Securities appellate tribunal. [11] [12] Angel Broking began offered shares through an initial public offering in September 2020, and was listed on the Bombay Stock Exchange and the National Stock Exchange on 5 October 2020. [13]

The company rebranded as Angel One in 2021. [14] [15] In June 2024, Angel One reached a client base of 2.47 crore (24.7 millions). [16]

References

  1. ↑ "List of Members - Derivatives". BSE India. p. Clearing No. 612. Retrieved 29 April 2015.
  2. ↑ "Angel Broking". Bloomberg. Retrieved 29 April 2015.
  3. ↑ "List of CDSL DP's". Central Depository Services (India) Limited. Retrieved 29 April 2015.
  4. ↑ "Angel Broking Ltd". Business Standard India. Retrieved 22 August 2021.
  5. ↑ Sood, Parina (7 November 2014). "Manage money, make money". Franchise India.
  6. ↑ Study Of Best Practices In The Bfsi Sector For Marketing, Branding & Communications Plan. Sanjay Gupta. 13 August 2011. p. 53. Retrieved 29 April 2015.
  7. ↑ "Angel One A Brief History". Small Biz Buddha. 23 September 2022.
  8. ↑ "Birla Sun Life enters into alliance with Angel Broking". Economics Times. Press Trust of India (PTI). 26 November 2007. Archived from the original on 2 May 2015.
  9. ↑ "IFC Buys 18% In Angel Broking For Rs 152 Cr; Goldman, Macquarie In Deal With PFS". VCCircle. 23 November 2007. Archived from the original on 8 June 2009. Retrieved 8 May 2015.
  10. ↑ Ghosh, Ahona; Gupta, Apurv. "Dinesh Thakkar's Angel Broking expands while other brokerages downsize". The Economic Times. Retrieved 22 August 2021.
  11. 1 2 "Sebi restrains Angel Broking, other stock brokers for two weeks". The Economic Times. 31 January 2013. Retrieved 28 March 2019.
  12. ↑ "Tribunal upholds SEBI order against Angel Broking". @businessline. 22 October 2013. Retrieved 28 March 2019.
  13. ↑ Raj, Shubham. "Angel Broking IPO to open on Tuesday: All you need to know about the issue". The Economic Times. Retrieved 22 August 2021.
  14. ↑ "Angel Broking renames as 'Angel One'; Stock under pressure". www.indiainfoline.com. Retrieved 6 December 2021.
  15. ↑ "Angel Broking mulls name change". The Hindu Business Line. 15 July 2021.
  16. ↑ "Angel One rebounds from four-day fall on rise in client base, June order growth". moneycontrol.com. 5 July 2024. Retrieved 2 January 2025.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.