Markets

Angel One demat customers cross 10 mn; base doubles in over 12 months



Domestic brokerage Angel One, formerly Angel Broking, crossed the 10-million customers mark in May, more than doubling its customer base over the past 12 months.

In May alone, it added over 0.47 million new customers, taking its overall customer base to 10.10 million.

On an annualised basis, the gross addition grew by 108.7 per cent in the 12 months ending May 2022, the city-based securities firm said in a statement on Monday.

The brokerage processed 70.63 million orders, a 48.4 percent growth, in May. It has also registered impressive numbers in other areas with its overall average daily turnover growing 88.2 per cent to Rs 8.94 lakh crore in May, helping its average client funding book surge 60.4 per cent to Rs 1,884 crore, its chief executive Narayan Gangadhar said.


claims over 80 per cent of its new customers are first-time investors and under 30 years, who mostly hail from small towns.

The 25-year-old firm, which went public with a Rs 600-crore IPO in September 2020, had 4.12 million customers in March 2021, up from just 1.82 million in FY19.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard,

Digital Editor

Source link

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button