Angel One to consider fund raising on January 15; share price rises

Angel One to consider fund raising on January 15; share price rises

The share touched a 52-week high of Rs 3,900.35 and a 52-week low of Rs 1,000 on 09 January, 2024 and 01 March, 2023, respectively.

In December, Angel One reported a 55.5 percent year-over-year increase in its client base, reaching 1.95 crore, and a 221.5 percent rise in Gross Client Acquisition, reaching 0.10 crore.

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Angel One share price rose in the opening trade on January 11 as the company board is going to consider fundraising on January 15.

At 09:22 hrs, Angel One was quoting at Rs 3,805.00, up Rs 47.90, or 1.27 percent, on the BSE.

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Earlier the company had informed that the board meeting scheduled to be held on January 15, 2024, to consider and approve the unaudited financial results (standalone and consolidated) of the Company for the quarter and nine months ended December 31, 2023.

The company now informed that at the said meeting, the board of directors will also consider a proposal for raising funds through the issuance of non-convertible securities on a private placement basis.

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In December, Angel One reported a 55.5 percent year-over-year increase in its client base, reaching 1.95 crore, and a 221.5 percent rise in Gross Client Acquisition, reaching 0.10 crore. Orders volume also surged, increasing by 59.2 percent YoY to 13.72 crore, with the quarter ending in December seeing a 54.7 percent jump to 35 crore.

On January 8, Angel One announced the appointment of Ms. Anuprita Daga as its Group Chief Information Security Officer (CISO). In her new role, Anuprita will be responsible for improving the information security, cyber security, and data privacy framework at Angel One.

The company’s stock hit a 52-week high of Rs 3,900.35 and a 52-week low of Rs 1,000 on January 9, 2024, and March 1, 2023, respectively. Currently, Angel One’s shares are trading 2.44 percent below their 52-week high and 280.5 percent above their 52-week low.

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