CHAPTER 1

1.INTRODUCTION AND HISTORY

Angel One Ltd, originally established as Angel Broking in 1987, is a
trailblazer in India’s financial services industry. The company began as a
traditional brokerage firm but has evolved into a technology-driven
investment platform. In 2021, the company rebranded to Angel One Ltd,
reflecting its shift toward leveraging innovation to empower retail investors.
Its mission is to simplify financial markets, making them accessible to
everyone.
The company is headquartered in Mumbai and operates nationwide,
offering a comprehensive range of services. Over the decades, Angel One
has become synonymous with trust, transparency, and technology in India’s
financial ecosystem, catering to millions of clients. Its rich history is marked
by constant adaptation to changing market dynamics, making it a leader in
the industry.

1.1 FOUNDER OF THE COMPANY

The founder of Angel One Ltd (formerly Angel Broking) is Dinesh Thakkar.
Dinesh Thakkar established the company in 1987, starting with a vision to
simplify stock market investments and empower retail investors in India. He
began his journey in the financial services industry with limited resources
but a strong belief in the potential of the Indian equity market. Under his
leadership, Angel One transformed from a traditional brokerage firm into a
leading tech-driven financial services platform.
Thakkar played a key role in introducing advanced digital trading platforms
and embracing innovative technologies like Artificial Intelligence (AI) and
Machine Learning (ML) to enhance user experiences. His entrepreneurial
acumen and customer-centric approach have been instrumental in Angel
One’s success, making it one of India’s most trusted and widely recognized
financial services brands.

1.2 OBJECTIVE OF COMPANY

1. Empower Retail Investors:
To provide easy access to financial markets for retail investors by offering
innovative, user-friendly platforms and services.
2. Simplify Investment Processes:
To simplify trading and investment processes through technology-driven
solutions, making them accessible to individuals across all economic
backgrounds.
3. Enhance Financial Inclusion:
To expand financial services to underserved markets, including tier-2 and
tier-3 cities, bridging the gap between urban and rural investors.
4. Promote Financial Literacy:
To educate and guide investors in making informed decisions by offering
resources, tools, and advisory services.
5. Leverage Technology for Growth:
To adopt cutting-edge technologies such as Artificial Intelligence (AI),
Machine Learning (ML), and automation to improve operational efficiency
and customer satisfaction.
6. Deliver Cost-Effective Solutions:
To maintain competitive pricing models, ensuring that trading and investing
remain affordable for all.
7. Achieve Sustainable Growth:
To focus on long-term growth by diversifying product offerings, exploring
new markets, and building a loyal customer base.
 8. Foster Transparency and Trust:
To operate with integrity and transparency, ensuring customer trust and
loyalty in its services.
These objectives align with Angel One’s vision to democratize financial
markets and its mission to offer seamless and innovative financial
solutions.

1.3 VISION AND MISSION

Vision of Angel One Ltd
The vision of Angel One Ltd is to empower retail investors by simplifying
financial markets through technology and innovation. The company aims to
democratize investing, making it accessible, transparent, and hassle-free
for individuals across diverse economic and geographic backgrounds.
Angel One envisions becoming a leading global financial services provider,
leveraging advanced digital solutions to foster financial inclusion and create
wealth for its customers.
Mission of Angel One Ltd
1. Deliver customer-centric solutions: Provide cutting-edge, easy-to-use
financial platforms and services tailored to meet the needs of retail
investors and traders.
2. Promote financial literacy: Educate and empower individuals with the
knowledge and tools required to make informed investment
decisions.
3. Leverage innovation: Continuously adopt advanced technologies like
Artificial Intelligence (AI), Machine Learning (ML), and automation to
enhance trading and investment experiences.
4. Ensure transparency and trust: Operate with the highest standards of
integrity, offering cost-effective and reliable services.
5. Expand accessibility: Bridge the gap between urban and rural India,
enabling financial market participation for all.
Through its mission and vision, Angel One strives to lead the financial
services industry, building long-term relationships with its customers and
contributing to India’s economic growth.

1.4 SWOT ANALYSIS

A SWOT analysis provides a structured framework to evaluate Angel One
Ltd’s strengths, weaknesses, opportunities, and threats, giving insight into
its market position and growth potential.
A)Strengths
1. Strong Brand Reputation:
Angel One is a well-established name in the Indian financial services
industry, with over three decades of experience. Its rebranding from Angel
Broking reflects its evolving business model and commitment to innovation.
2. Technological Leadership:
The company’s advanced digital platforms, such as the Angel One app,
SmartAPI, and ARQ Prime, provide seamless, user-friendly, and AI-driven
trading and investment experiences.
3. Large Client Base:
With over 13 million registered users, Angel One has a vast and growing
retail investor base, contributing significantly to its revenue streams.
4. Wide Geographical Reach:
Angel One operates across India with a network of over 17,000 sub-
brokers and franchise partners, ensuring accessibility to diverse customer
segments, including rural areas.
5. Comprehensive Service Portfolio:
The company offers a wide range of services, including equity trading,
derivatives, mutual funds, commodities, and margin funding, catering to
various investor needs.
 6. Low Brokerage Model:
Angel One’s cost-effective pricing strategy makes it a preferred choice for
retail investors and traders, particularly millennials and beginners.
B) Weaknesses
1. Dependence on Retail Investors:
The company heavily relies on retail participation, which can be volatile and
influenced by market conditions.
2. Limited International Presence:
Unlike some competitors, Angel One’s operations are largely confined to
India, limiting its global market exposure.
3. High Competition:
The brokerage and financial services industry in India is highly competitive,
with numerous players offering similar services at competitive rates.
4. Customer Retention Challenges:
With the rise of discount brokers and fintech startups, retaining customers
can be challenging, especially tech-savvy clients looking for innovative
solutions.
5. Regulatory Dependence:
As a SEBI-regulated entity, Angel One is subject to strict regulatory
compliance, which can sometimes limit its operational flexibility.
C) Opportunities
1. Expanding Retail Investor Base:
The Indian stock market has seen a surge in retail participation, particularly
from tier-2 and tier-3 cities, creating immense growth opportunities for
Angel One.
2. Fintech Adoption:
Increased adoption of digital platforms and fintech solutions in India
provides opportunities for Angel One to innovate further and attract tech-
savvy customers.
3. Introduction of New Products:
Angel One can diversify its offerings by venturing into emerging areas such
as cryptocurrency trading, ESG funds, and financial planning tools.
4. Partnerships and Collaborations:
Collaborations with banks, fintech startups, and technology providers can
help Angel One expand its customer base and enhance its service
offerings.
5. Global Expansion:
Exploring international markets and cross-border investment services can
open new revenue streams and reduce dependence on the domestic
market.
D) Threats
1. Intense Competition:
The brokerage industry faces competition from established players like
Zerodha, Groww, and Upstox, as well as new entrants offering innovative
and cost-effective solutions.
2. Market Volatility:
Angel One’s performance is closely tied to stock market activity. A downturn
in the market can significantly impact trading volumes and revenue.
3. Regulatory Risks:
Changes in government policies or SEBI regulations, such as caps on
brokerage fees or restrictions on certain financial products, can impact the
company’s operations and profitability.
4. Cybersecurity Risks:
As a tech-driven company, Angel One is exposed to risks related to data
breaches and cyber-attacks, which can erode customer trust and lead to
financial losses.
5. Economic Slowdowns:
Economic uncertainty, inflation, or reduced investor sentiment can
adversely affect trading activity and the company’s overall revenue.
●Conclusion
Angel One Ltd has a strong foundation, backed by a robust technological
infrastructure, a growing customer base, and a reputation for transparency.
While it faces challenges from competition and market dynamics, the
opportunities in India’s evolving financial ecosystem offer significant growth
potential. By leveraging its strengths and addressing its weaknesses, Angel
One is well-positioned to maintain its leadership in the financial services
industry.

1.5 BUSINESS MODEL AND SERVICES

Angel One Ltd operates on a customer-centric business model, offering a
wide array of financial services tailored to retail investors. Its key services
include:
Equity Trading: Providing seamless platforms for buying and selling shares
on the stock market, catering to both seasoned investors and beginners.
Derivatives and Commodities: Enabling futures and options trading in
equity, currency, and commodities markets.
Mutual Funds: Simplifying wealth creation through advisory and investment
services in mutual funds, including SIPs.
Margin Funding: Supporting traders with additional capital through margin
trading facilities.
Advisory Tools: Offering AI-driven tools like ARQ Prime for personalized
investment recommendations.
By focusing on technology, competitive pricing, and user-friendly interfaces,
Angel One attracts a broad demographic, from millennials to experienced
traders.

1.6 TECHNOLOGICAL ADVANCEMENTS

Angel One has positioned itself as a fintech leader by leveraging advanced
technology to streamline investing. Its flagship platform, the Angel One
App, is a one-stop solution for trading, research, and portfolio
management. The app is renowned for its intuitive interface, real-time data,
and customizable features.
The company also offers SmartAPI, empowering developers and tech-
savvy traders to create custom trading applications. With ARQ Prime, an
AI-based engine, Angel One delivers smart investment strategies by
analyzing extensive market data and user preferences.
Through these innovations, Angel One not only simplifies trading but also
democratizes access to complex financial tools, making it easier for retail
investors to navigate the markets.

1.7 MARKET PRESENCE

Angel One has a robust presence across India, with its services spanning
urban, semi-urban, and rural areas. The company operates through a wide
network of over 17,000 sub-brokers and franchise partners, ensuring
accessibility even in remote regions.
The transition to digital platforms has expanded Angel One’s reach
significantly, enabling the company to serve over 13 million clients. Its
market penetration is bolstered by India’s growing internet usage, as more
investors embrace online trading. This widespread presence positions
Angel One as a key player in fostering financial inclusion and bridging the
gap between traditional and modern trading methods.
1.8 FINANCIAL PERFORMANCE
Angel One has demonstrated impressive financial growth, consistently
delivering strong results. The company’s revenues have seen significant
year-on-year growth, driven by increased trading volumes and a surge in
retail participation.
Its profitability is bolstered by a cost-efficient digital operating model,
allowing it to offer competitive brokerage rates while maintaining healthy
margins. Angel One’s shares, listed on the Bombay Stock Exchange (BSE)
and National Stock Exchange (NSE), have attracted considerable investor
interest, reflecting confidence in the company’s performance.
By focusing on scalability and innovation, Angel One continues to
strengthen its financial position in an ever-evolving market.

1.9 COMPETITIVE EDGE

Angel One stands out in a crowded market due to its unique strengths. The
company’s low brokerage fees make it a cost-effective choice for retail
investors, especially those making frequent trades.
Its user-friendly digital platforms offer intuitive navigation, robust security,
and real-time updates, ensuring a seamless trading experience. The
integration of AI-driven tools further enhances decision-making for clients.
Angel One’s customer-centric approach is evident in its 24/7 support and
educational resources, which empower investors with knowledge. These
attributes, combined with a focus on transparency and innovation, give
Angel One a distinct competitive advantage over its peers.

1.10 CORPORATE GOVERNANCE

Angel One is led by a team of experienced professionals who uphold the
highest standards of corporate governance. The company adheres to strict
regulatory guidelines set by the Securities and Exchange Board of India
(SEBI) and other governing bodies.
Its commitment to ethical practices and transparent operations fosters trust
among clients and stakeholders. Angel One also plays an active role in
promoting financial literacy, organizing workshops and webinars to educate
retail investors. This focus on governance and education underscores its
dedication to creating a sustainable and inclusive financial ecosystem.

1.11 ACHIEVEMENT AND AWARDS

Over the years, Angel One has earned numerous accolades for its
excellence in financial services. It has been recognized for its innovation in
digital transformation, customer service, and trading platforms.
The company’s milestones include onboarding millions of clients onto its
platforms, achieving record-breaking trading volumes, and pioneering AI-
driven advisory services in India. These achievements highlight Angel
One’s impact on the industry and its commitment to delivering value to its
customers.

1.12 CHALLENGES AND OPPORTUNITIES

Angel One operates in a competitive and dynamic industry, facing
challenges such as regulatory changes, rising competition, and market
volatility. However, these challenges also present opportunities for growth.
With increasing internet penetration, a growing retail investor base, and
advancements in fintech, Angel One is well-positioned to capitalize on
emerging trends. By continuously innovating and expanding its product
portfolio, the company aims to stay ahead of the curve and tap into new
markets.

1.13 FUTURES PLAN

Looking to the future, Angel One has ambitious plans to further its growth
and innovation. The company aims to expand its footprint in tier-2 and tier-
3 cities, reaching a broader audience.
It plans to Invest in emerging technologies like blockchain and artificial
intelligence to enhance its platforms. Additionally, Angel One is exploring
new financial products and services to cater to evolving customer needs.
With a clear vision and strategic roadmap, the company is poised to lead
the next wave of transformation in India’s financial sector.

1.14 HIERARCHY
Angel One Ltd., formerly known as Angel Broking Limited, is a prominent
Indian stock brokerage firm. The company’s organizational structure
comprises a Board of Directors and an executive management team.
Board of Directors:
Mr. Dinesh D. Thakkar: Chairman & Managing Director
Ms. Mala Todarwal: Independent Director
Mr. Muralidharan Ramachandran: Independent Director
Mr. Kalyan Prasath: Independent Director
Mr. Arunkumar Nerur Thiagarajan: Independent Director
Mr. Krishnaswamy Arabadi Sridhar: Independent Director
Mr. Krishna Iyer: Non-Executive Director
Mr. Amit Majumdar: Whole-Time Director
Mr. Ketan Shah: Whole-Time Director

Key Executives:

Mr. Hemen Bhatia: CEO – Asset Management Business

Mr. Subhash Menon: Chief – Human Resources
Mr. Nishant Jain: Chief Business Officer
Mr. Sameer Desai: Chief Business Officer
Mr. Srikanth Subramanian: Chief Executive Officer
Mr. Vineet Agrawal: Chief Financial Officer
Mr. Prabhakar Tiwari: Chief Growth Officer
Mr. Mehul Dama: Chief Investment Officer
Mr. Ankit Rastogi: Chief Production Officer
Mr. Ketan Shah: Chief Strategy Officer
Mr. Jyotiswarup Raiturkar: Chief Technical Officer
Mr. Naheed Patel: Company Secretary & Compliance Officer
Mr. Devender Kumar: Head
Mr. Bhavin Parekh: Head – Operations
This hierarchical structure reflects Angel One’s commitment to effective
governance and operational excellence.

●OBJECTIVE OF EMPLOYEE TO STUDY THEIR JOB PROFILE

1. Customer Acquisition and Retention:
Proactively identify and onboard new clients while maintaining strong
relationships with existing customers to ensure their continued association
with Angel One.
2. Customer Support and Problem Resolution:
Address customer queries, complaints, and service issues promptly and
effectively, ensuring a high level of customer satisfaction and trust in the
company.
3. Promote Financial Products and Services:
Educate clients about various financial products and services such as
stocks, mutual funds, IPOs, and insurance to meet their financial goals
while boosting product adoption.
4. Enhance Customer Engagement:
Provide regular updates, insights, and investment opportunities to
customers to improve their engagement and empower them to make
informed financial decisions.
5. Achieve Sales and Service Targets:
Work towards achieving predefined sales, revenue, and client service
targets through upselling, cross-selling, and maintaining superior customer
service standards.