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SPA Securities has come out with its report on Angel Broking. The research firm has recommended to ''Subscribe'' the ipo in its research report as on September 21, 2020
SPA Securities IPO report on Angel Broking
Angel Broking is one of the leading retail broking houses in India with a network of over 11,000 Authorised Persons and the customer outreach, spans across approximately 96.87% or 18,649 pin codes enabling it to enhance its client base by 36.81% CAGR from 1.06 million in FY18 to 2.15 million. It manages INR 132,540 million in client assets and over 2.15 million operational broking accounts. The online and digital platforms, "Angel Broking Mobile App","trade. angel broking. com","Angel Speed Pro", "Angel BEE", which are powered by "ARQ", a rule-based investment engine, have helped the company reach out to its diversified customer base.
Valuation and Outlook
We recommend a subscribe to the issue as a good long term investment in sync with the opportunities presented by the under penetration of investments in equities as an asset class and the strong brand equity created by the company over the last 2 decades with proven prowess in adoption of technology and strong advisory base.
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