Angel Broking hits 5M clients milestone as stock markets witness strong participation

The broker said that as the stock market receives overwhelming participation in India, Angel Broking has also resonated with the market’s vigour.

Jun 17, 2021 04:06 IST India Infoline News Service

Angel Broking, continues its client addition stride in June 2021, following record monthly gross client acquisition in the previous month. As the stock market receives overwhelming participation in India, Angel Broking has also resonated with the market’s vigour. It has successfully crossed the ‘5 Million Clients’ milestone with an accelerated monthly client addition rate.

In its regulatory filing, Angel Broking clocked its highest‐ever monthly gross client acquisition in May 2021 as it‐ boarded ~0.43 million clients, which was over twice the monthly average recorded in the last fiscal. Its client addition rate has consistently increased quarter after quarter, growing more than 14 times to 0.96 million in Q4 FY 2021 from less than 0.10 million in Q1 FY 2020. Angel Broking has further reached a record Average Daily Turnover (ADTO) of approximately Rs. 4.8 trillion, which is nearly 19 times as compared to Rs. 253 billion in Q1 2020.

Prabhakar Tiwari, Chief Growth Officer, Angel Broking said, “In the past couple of years, Angel Broking has industriously travelled through the path of digital transformation. It is great to see that our concerted efforts are generating the desired results. However, we believe that the journey has only begun. The retail participation in India is still slightly above 4%. So, the kind of response that we are receiving is merely the tip of the iceberg. The industry has to prepare for an impending storm of investors in the coming few years. This generation will settle for nothing less than perfect.”

Narayan Gangadhar, Chief Executive Officer, Angel Broking said, “Angel Broking is on a mission to emerge as India’s largest, most trusted, and most revered fintech company. The 5 million clients’ milestone is a testament to the fact that we are headed in the right direction. We are ensuring maximum client satisfaction by curating an entire ensemble of services that are technologically evolved, yet easy to use. The idea is to empower people by making technology an indispensable element of investments in India. Our vision is to include this asset class in every Indian’s investment portfolio.”

According to the fintech broker, this stellar growth is a result of the company increased focus on leveraging Artificial Intelligence and Machine Learning for across‐the‐board processes. The fintech broker has ensured a superior and seamless client experience, thereby making deeper inroads into the tier 2, tier 3 markets and beyond. It has developed a user‐friendly interface with service availability across the broadest spectrum of digital channels including mobile apps, web platforms, and specialized software suites. Angel Broking’s superior-tech infrastructure has also decreased its average client onboarding time to 5 minutes.

On Sensex, Angel Broking finished at Rs821 per piece down by 1.1%.

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