About the Company:
Angel Broking is one of the largest retail broking houses in India in terms of active clients on NSE as of June 30, 2020
Company is a technology-led financial services company providing broking and advisory services, margin funding, loans against shares (through one of our Subsidiaries, AFPL) and financial products distribution to our clients under the brand “Angel Broking”.
Company’s broking and allied services are offered through (i) online and digital platforms, and (ii) network of over 11,000 Authorised Persons , as of June 30, 2020.
Company’s customer outreach, spans across approximately 96.87% or 18,649 pin codes in India as of June 30, 2020 and manages Rs.13254 crores in client assets and over 2.15 million operational broking accounts as of June 30, 2020.
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:
Research Services:
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.
Investment Advisory:
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.
Distribution:
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.
Client Base Growth: (in million)
Management Team:
- 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.
Angel Broking is one of the largest retail broking houses in India, in terms of active clients on NSE as of June 30, 2020.
Company’s online and digital platforms, along with vast network of Authorised Persons enables us to reach a large population of retail clients spread across approximately 96.87% or 18,649 pin codes in India.
This widespread reach has enabled Angel broking to enhance the client base from 1.06 million in FY18 to 2.15 million as on June 30, 2020.
Company has witnessed a consistent growth in our gross client addition of 0.22 million, 0.26 million, 0.56 million and 0.35 million in FY18, FY19, FY20 and Q1 FY21, respectively and representing a 59.54% CAGR over the period from FY18 to FY20.
Diversified Product offering across segments at Competitive Price.
Company’s online platforms, “Angel Broking”, “trade.angelbroking.com”, “Angel SpeedPro” and “Angel BEE”, powered by ARQ, allow us to provide our clients with an ability to manage their wealth and investments in an efficient and organized manner.
Company’s clients trade in equities in the cash-delivery, cash-intraday, futures and options, indices – derivatives segment through various order types, including market orders, stop loss orders and valid till cancelled orders. We also facilitate participation in initial public offerings.
Robust Business Metrics.
Company’s operational client base as of March 31, 2019, March 31, 2020, April 30, 2020, May 31, 2020 and June 30, 2020 was 1.29 million clients, 1.82 million clients, 1.91 million clients, 2.01 million clients and 2.15 million clients, respectively.
The augmentation of digital processes, technological platforms, performance marketing, client engagement strategy, robust client acquisition and an all-inclusive flat pricing model has enabled us to substantially grow the average daily turnover from Rs. 25317.6 crores in Q1 FY20 to Rs. 61894.5 crores in Q1 FY21, as well as placed us at the forefront in the turnover based market share for the retail broking industry in India.
Valuation of Peer Group Companies:
| Company Name | Face Value | EPS | PE Ratio | RoNW | NAV |
|---|---|---|---|---|---|
| Angel Broking Ltd | 10 | 11.44 | 26.74 | 13.92% | 82.15 |
| 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 16 | FY 17 | FY 18 | FY 19 | FY 20 | 30th June 2020 |
|---|---|---|---|---|---|---|
| Revenue | 462.27 | 552.31 | 779.9 | 784.1 | 754.7 | 246.5 |
| Net Profit | 31.72 | 31.01 | 107.0 | 79.8 | 82.3 | 47.3 |
IPO Details:
| Details | Info |
|---|---|
| Issue Opens on | 22nd September 2020 |
| Issue Closes on:. | 24th September 2020 |
| Issue Price | Rs.305 – 306 |
| Face Value | Rs.10 |
| Retail Allocation Category | 35% |
| Minimum Lot | 49 Shares |
| Minimum Investment | Rs. 14994 |
| Issue Constitutes | 23.97% |
| Issue Size | Rs.600 cr ($81 million) |
| Market Cap | Rs.2503 cr ($338 million) |
| Listing at | NSE & BSE |
| Equity Shares Offered (Fresh) | 98,03,921 |
| Equity Shares Offered (OFS) | 98,03,921 |
| Total Equity Shares Offered (Fresh+ OFS) | 1,96,07,842 |
| Equity Shares Prior to the Issue | 7,19,95,003 |
| Equity Shares after the issue | 8,17,98,924 |
IPO Valuation Parameters:
| Earnings Per Share (EPS) | Price To Earnings ratio (PE) | Return on Net Worth (RoNW) | Net Asset Value (NAV) |
|---|---|---|---|
| 11.44 | 26.74 | 13.92% | 82.15 |
Important Dates:
| Finalization of Basis of Allotment | On or Before 29th September 2020 |
| Initiation of Refunds | On or Before 30th September 2020 |
| Credit of Equity Shares: | On or Before 1st October 2020 |
| Listing Date: | On or Before 5th October 2020 |
Subscription Details: (Will be Updated)
| (Subscription-Category-Wise (no. of times) Till time : 5:00 PM) | Shares Offered | Day-1 | Day-2 | Day-3 |
|---|---|---|---|---|
| QIB | 39,34,425 | 0.00 | 0.00 | 5.74 |
| NII | 29,50,820 | 0.17 | 0.31 | 0.69 |
| Retail | 68,85,246 | 1.46 | 2.79 | 4.31 |
| Employee | —— | — | —– | —- |
| TOTAL | 1,37,70,491 | 0.77 | 1.46 | 3.94 |
| Find the List of Upcoming IPOs in India: |
|---|
Upcoming IPOs in India (Click on the below Link)www.UpcomingIPOs-in-India |
| Check IPO Allotment Status: |
|---|
Link InTime : https://linkintime.co.in/PublicIssue/BSE IPO Website: https://www.bseindia.com/IPO/Allotment |
| 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 Email: investors@angelbroking.com Website: www.angelbroking.com |
| 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 E-mail: angel.ipo@linkintime.co.in Website: www.linkintime.co.in |
