About the Company:
Angel Broking Ltd is one of the largest independent full-service retail broking house in India in terms of active clients on NSE.
Company is a technology led financial services company, that provides broking and advisory services, margin funding, loans against shares (through one of their Subsidiaries, AFPL) and financial products distribution to their clients under the brand “Angel Broking”.
Company’s broking services are offered through (i) online and digital platforms, and (ii) network of more than 11,000 sub-brokers, as of June 30, 2018.
Through their network of sub-brokers and over 110 branches, Company has a pan-India presence across 1,800 cities and towns, as of June 30, 2018.
As at June 30, 2018, Company managed Rs.11,302.3 crores in client assets and over 1.11 million active broking accounts.
Company’s primary focus is to profitably grow the retail broking, margin funding and distribution businesses through their online and digital platforms, “Angel Broking App”, “trade.angelbroking.com”, “Angel SpeedPro”, “Angel BEE”, which are powered by “ARQ”, a rule-based investment engine.
Company Provides the following Services:
Broking and Advisory:
Company provides broking services across equity (cash-delivery, intra-day, futures and options), commodity and currency segments, along with debt products.
Company also facilitate participation of their clients in initial public offerings undertaken by various companies.
As a part of the broking and advisory services offered by them, they also facilitate opening of demat accounts for their clients. Company is a member of BSE, NSE, MSEI, MCX and NCDEX in order to provide broking services.
To complement the broking and advisory services,Company also provides the following additional services to their clients:
Company has a dedicated research team which publishes research reports on a daily, weekly and monthly basis for their clients, to enable them to make informed investment decisions across equity, commodity and currency segments.
Company also provides investment advisory services to their retail clients with customized investment recommendations which they believe assists their clients in achieving their investment goals across various investment avenues such as equities, debt, currency, commodities, derivatives, mutual funds and insurance products.
Other Financial Services: In addition to their broking and advisory services, Company also provides the following financial services that may enable their clients to achieve their financial goals:
Margin Trading Facility:
Company provides margin trading facility to their clients for leveraging their eligible collaterals by funding their requirements on the cash delivery segment of equities.
Company also undertakes distribution of third-party financial products such as mutual funds, and health and life insurance products, according to our clients’ requirements.
Loans against shares:
Through their Subsidiary, AFPL, which is registered as an NBFC, they provide loans against shares to their retail clients.
Segment wise Revenue: (in million)
- Mr. Dinesh D. Thakkar (Designation: Chairman and Managing Director)
- Mr. Vinay Agrawal (Designation: Director and Chief Executive Officer)
- Mr. Uday Sankar Roy (Designation: Independent Director)
Objectives of the Issue:
- To meet working Capital requirements.
- General corporate purposes.
Positives for the company:
One of the largest retail broking houses with strong brand equity.
The “Angel Broking” brand, established over 20 years ago, has over the years built an online and digital broking and financial services platform, with a pan-India presence.
Company is one of the largest independent full-service retail broking house in India, in terms of active clients on NSE as of July 31, 2018.
Over the years, Company has increased the market share in the retail broking space in India, in the cash segment from 6.24% in Financial Year 2016, to 8.84% in Financial Year 2018.
Between Financial Year 2016 and Financial Year 2018, the number of their active clients increased from 0.72 million clients to 1.06 million clients.
Strong Client base through Online and digital platform and sub-broker network.
Comany’s broking services are offered through (i) online and digital platforms, (ii) network of more than 11,000 subbrokers, as of June 30, 2018; and (iii) dedicated dealer helpdesks at their service centres in New Delhi and Mumbai.
The number of direct clients who have been acquired through the online and digital platforms has increased from 27,173 clients for the Financial Year ended March 31, 2016 to over 60,650 clients for the Financial Year ended March 31, 2018.
Significant Market share in the cash and commodity segment.
Company’s broking, distribution and advisory services are backed by robust infrastructure and has processed, at peak usage, approximately 0.95 million trades in a day.
Company’s market share in the commodity segment has increased from 7.62% in Financial Year 2016 to 8.31% in Financial Year 2018.
Company had over 8.84% of market share in retail exchange turnover of the equity cash segment in Financial Year 2018.
Valuation of Peer Group Companies:
|Company Name||Face Value||EPS||PE Ratio||RoNW||NAV|
|Angel Broking Ltd||10||15.03||TBA||22.72%||66.13|
|ICICI Securities Ltd||5||17.31||20.83||66.86%||25.89|
|Geojit Financial Services Ltd||1||3.03||25.64||13.14%||23.41|
|IIFL Holdings Limited||2||28.55||24.08||17.99%||158.81|
|Edelweiss Financial Services Limited||1||9.80||33.46||13.34%||72.75|
|Motilal Financial Services Ltd||1||36.81||25.09||24.07%||154.96|
|JM Financial Limited||1||7.81||16.54||14.81%||50.80|
Financials of the Company: (Consolidated)
|(in Crores)||FY 14||FY 15||FY 16||FY 17||FY 18||30th June 18|
|Issue Opens on||Will be Updated|
|Issue Closes on:.||Will be Updated|
|Issue Price||Will be Updated|
|Minimum Lot||Will be Updated|
|Minimum Investment||Will be Updated|
|Issue Constitutes||Will be Updated|
|Issue Size||Will be Updated|
|Market Cap||Will be Updated|
|Listing at||NSE & BSE|
|Equity Shares Offered||Will be Updated|
|Equity Shares Prior||7,19,95,003|
|Equity Shares after the issue||Will be Updated|
IPO Valuation Parameters:
|Earnings Per Share (EPS)||Price To Earnings ratio (PE)||Return on Net Worth (RoNW)||Net Asset Value (NAV)|
|15.03||Will be Updated||22.72%||66.13|
|Finalization of Basis of Allotment||Will be Updated|
|Initiation of Refunds||Will be Updated|
|Credit of Equity Shares:||Will be Updated|
|Listing Date:||Will be Updated|
Subscription Details: (Will be Updated)
|(Subscription-Category-Wise (no. of times) Till time : 00:00)||Shares Offered||Day-1||Day-2||Day-3|
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|Company Contact Info:|
|Angel Broking Ltd
G-1, Ground Floor
Akruti Trade Centre,Road No.7, MIDC
Andheri (East), Mumbai 400 093
Tel: +91 22 4000 3600
Fax: +91 22 2835 8811
|IPO Registrar Info:|
|Link Intime India Private Limited
C-101, 1st floor, 247 Park
Lal Bahadur Shastri Maarg
Vikhroli (West), Mumbai 400 083
Tel: +91 22 4918 6200
Fax: +91 22 4918 6195