The company was originally incorporated on August 8, 1996 as M. BNL. Securities Private Limited, a private limited company, under the Companies Act, 1956, with the RoC. Thereafter, the company was converted from a private limited company to a deemed public company, pursuant to Section 43A of the Companies Act, 1956, and consequently, the term “private” was deleted by the RoC from the name of the company with effect from March 15, 1997. Thereafter, the company was converted from a deemed public company to a private limited company and consequently, the name of the company was changed to M. BNL. Securities Private Limited and the term “private” was added by the RoC to the name of the company with effect from June 17, 2003. Subsequently, the name of the company was changed to Angel Infin Private Limited pursuant to a special resolution passed by company’s Shareholders on March 15, 2005 and a fresh certificate of incorporation consequent to the change of name was issued by the RoC on March 31, 2005. Further, the name of the company was changed to Angel Global Capital Private Limited pursuant to a special resolution passed by company’s Shareholders on December 16, 2008 and a fresh certificate of incorporation consequent to the change of name was issued by the RoC on January 22, 2009. Thereafter, the name of the company was changed to Angel Broking Private Limited pursuant to an order of the High Court of Bombay dated March 2, 2012 approving the scheme of amalgamation between Angel Broking Limited, an erstwhile wholly owned subsidiary of the company and the company (erstwhile Angel Global Capital Private Limited), and such change was approved pursuant to a special resolution passed by company’s Shareholders on May 2, 2012 and a fresh certificate of incorporation consequent to the change of name was issued by the RoC on May 16, 2012. Subsequently, the company was converted from a private limited company to a public limited company pursuant to a special resolution passed by the Shareholders of the company on June 22, 2018 and the name of the company was changed to Angel Broking Limited. A fresh certificate of incorporation consequent to the conversion of the company to a public limited company was issued by the RoC on June 28, 2018.

Angel Broking is one of the largest retail broking houses in India in terms of active clients. The company’s experience of over two decades has helped it to integrate its knowledge and expertise in the broking industry with the technology it provides to its retail clients through various platforms. Over the years, the company has enhanced client engagement and experience through digitisation of its processes and augmentation of its technological platforms. It launched its mobile application for broking services in the year 2011 and KYC authentication and complete client on-boarding through the electronic and digital medium in the year 2015 and 2016, respectively. The company’s primary focus is to profitably grow its retail broking, margin funding and distribution businesses through its online and digital platforms, ‘Angel Broking Mobile App’, ‘trade.angelbroking.com’, ‘Angel SpeedPro’, ‘Angel BEE’, which are powered by ARQ, a rule-based investment engine. It provides its broking services through various web, digital and .exe platforms, which are integrated with each other enabling its clients to have a seamless trading and investment experience, positioning it to benefit from the development of the Indian financial market, increased emphasis on digitalisation, and growth in the returns from such financial investments.

Business area of the company

The company is a technology-led financial services company providing broking and advisory services, margin funding, loans against shares (through one of its Subsidiaries, AFPL) and financial products distribution to its clients under the brand ‘Angel Broking’.

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Market Cap	16,308 Cr	ROE	34.8%
P/E Ratio(TTM)	17.6	EPS(TTM)	0.0
P/B Ratio	7.0	Dividend Yield	2.0%
Industry P/E	24.8	Book Value	277.1
		Face Value	10.0

Fundamentals