~ The Average Daily Turnover for Jan’23 grew by 108.9% Y-o-Y to Rs 17.02 trillion ~
Mumbai, 10 February 2023: Fintech company Angel One Limited (formerly known as Angel Broking Limited) witnessed an impressive 54.5% YoY growth in its client base to 12.89 million in January’23 as it acquired 0.39 million clients.
The company started the year on a high note as it recorded strong growth across business parameters. Its overall equity turnover market share expanded by 77 bps to 21.9%; Average Daily Turnover touched Rs 17.02 trillion, a 108.9% Y-o-Y growth, and booked 86 million orders, higher by 28.5% Y-o-Y. The average client funding book stood at Rs 13.93 billion.
Speaking on the growth, Mr. Prabhakar Tiwari, Chief Growth Officer of Angel One Ltd., said, “There has been an improvement in our gross client acquisition compared to the past few months. Despite the headwinds, the month-on-month increase in retail investor base indicates the growing depth of Indian capital markets, which is a positive sign.”
Commenting on the business performance, Mr. Narayan Gangadhar, Chief Executive Officer of Angel One Ltd. said, “A robust tech infrastructure has backed our growth. Angel One has always stayed ahead of the curve in integrating advanced technologies to make the user experience as smooth as possible. This year too, we will continue with our efforts to enhance user experience on our platform and reach the untapped markets.”
Aligned with its plans to advance technologically, Angel One launched its Super App, which is built on five key pillars – (S.T.A.R.S) – Simplicity, Transparency, Availability, Reliability and Swiftness. It is available in iOS and web versions for all users and in Android version for limited users.