Angel One Raises Rs 1,500 Crore in Successful QIP, Marks Milestone Growth

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Three points you will get to know in this article:

  • Angel One raises Rs 1,500 crore via QIP, showing investor confidence.
  • QIP funds to support working capital and corporate purposes.
  • Angel One’s FY23 sees strong revenue, profit growth, and client base increase.

About Angel One

Angel One, a prominent retail stock broking house in India, has successfully raised Rs 1,500 crore through a qualified institutional placement (QIP) issue. With participation from both domestic and foreign investors, the funds raised are aimed at addressing working capital requirements and supporting general corporate purposes, marking a significant milestone in Angel One’s growth journey.

Successful QIP Issue

Angel One’s QIP issue, set at a floor price of Rs 2555.01 per equity share with a face value of Rs 10 each, witnessed participation from both domestic and foreign investors. The successful completion of the QIP underscores investor confidence in Angel One’s business model and growth prospects, positioning the company for future expansion and development initiatives.

The proceeds from the QIP will primarily be deployed towards addressing working capital requirements, particularly for funding margin obligations, and supporting general corporate purposes. This strategic allocation of funds aligns with Angel One’s vision to fortify its operational capabilities and capitalize on emerging opportunities in the capital market landscape.

Strong Financial Performance

In FY23, Angel One showcased robust financial performance, with a revenue of Rs 3,021 crore, marking a growth of 31.5% from the previous fiscal year. Additionally, the company reported a net profit of Rs 890 crore, reflecting a notable increase of 42.4%. Angel One’s impressive growth trajectory is further highlighted by the substantial expansion of its client base, which surged from 1.8 million in FY19-20 to 13.8 million in FY22-23.

Angel One’s successful QIP issue and strong financial performance underscore its resilience and growth momentum in the retail stock broking industry. With a strategic infusion of funds and a steadfast commitment to innovation and customer-centricity, Angel One is poised to capitalize on evolving market dynamics and strengthen its position as a leading player in the Indian capital market landscape.

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