The stock broker has received an in-principle approval from Securities and Exchange Board of India (Sebi) vide their letter dated 8 February 2023, for sponsoring a mutual fund.
Accordingly, Angel One would be setting up an asset management company and the trustee company, in accordance with applicable Sebi Regulations and other applicable laws.Angel One is the largest listed retail stock broking house in India, in terms of active clients on NSE. The company provides broking and advisory services, margin funding, loans against shares and distribution of third-party financial products to its clients. The broking and allied services are offered through online and digital platforms and network of authorized persons.
The brokerage company's consolidated net profit (from continuing operations) surged 38.53% to Rs 228.04 crore on 25.5% jump in total income to Rs 759.66 crore in Q3 FY23 over Q3 FY22.
Shares of Angel One fell 0.21% to Rs 1160 on Wednesday, 8 February 2023.
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