Mumbai, 06, April 2024
This fund raise through Qualified Institutional Placement (QIP), strategically positions fintech player Angel One for its growth trajectory, by way of:
1. Funding the working capital requirements for:
• Funding the margin obligations that are fulfilled on behalf of our clients and the margin trading facility provided to our clients; and future growth requirements.
• General corporate purpose
Commenting on the fund raise, Mr. Dinesh Thakkar, Chairman and Managing Director, Angel One said: “The successful completion of this QIP marks a significant milestone in our journey, as we capitalise the business for its future growth trajectory, thus strengthening our position in the industry. The capital market landscape has undergone significant changes in recent years, with a robust outlook and deepening penetration, driven by digitisation. We are witnessing continuous engagement of Indian retail investors, as evidenced in our performance metrics. Key indicators such as gross client acquisition, number of orders, average daily turnover, turnover market share and financial performance are consistently creating newer benchmarks. I am grateful to all our investors and stakeholders, for the trust they have placed in our vision. As we embark on this growth journey, I am confident that we are well positioned to continue to seize opportunities and drive success for our company.”