Angel One to undertake corporate restructuring, create holding company
Angel One, the Mumbai-based stock broking major, is looking to create a holding company and structure its multiple businesses like credit, asset management and wealth management as the subsidiary entities, two people in the know said.
Currently the businesses are held by Angel Broking, which owns a stockbroker licence from the Securities and Exchange Board of India, the people said.
Elevate Your Tech Prowess with High-Value Skill Courses
Offering CollegeCourseWebsiteIndian School of BusinessProfessional Certificate in Product ManagementVisitIndian School of BusinessISB Product ManagementVisitIIT DelhiCertificate Programme in Data Science & Machine LearningVisit“The company is set to apply to multiple sector regulators for clearance regarding this move. Once the nod comes in, the separation exercise will start. They will also need to inform the corporate affairs ministry about this step,” one of the people said.
Such actions typically take time as it requires many levels of clearances. Angel One is a publicly traded company with a market capitalisation of around Rs 12,600 crore ($1.5 billion).
Eventually the company will look to apply for fresh licences under its different business entities, the people said. While it already has a broking licence, it could look to get a new licence to operate a non-banking finance company under the holding entity.
Emailed queries to the company went unanswered.
Angel One was previously known as Angel Broking and the company underwent a major rebranding exercise in 2021. Now the
