A well-established Indian Stock Broker, Angel One will upraise 2000 crore via preferential issue, QIP or other modes.

In a stock exchange filing, the company said that the motto of the funding move is to amplify and construct a well-determined financial flexibility to develop the business & leverage the booming opportunities within the current & developing opportunities in the landscape of Fintech.

In this regard, the company said, "The equity fund raise plan of up to 2,000 crore will allow the company to enhance its ability to invest beyond the current resources at hand, besides allowing it to maintain fiscal prudence in its journey to make Angel One a leading fintech platform”.

Also the company said, when it turned to digital, the company’s average daily orders have grew dynamically from 0.5 million in the financial year 2020, 1.4 million in FY21, 2.8 million in FY22, 3.7 million in FY23. Now the company is expected to reach 5.4 million in FY 24 with the average of 7.6 million.

The company added, "The investor base is continuously and significantly moving beyond the metros and tier 1 cities, to tier 2, 3, and 4 cities”.

By this, the prominent Stock broker Angel One planning to move ahead of equity and mutual funds to offer of credit & fixed-income products. And those offerings would fortify the company on the superapp and foster growth & development.

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