Angel One demat customers cross 10 mn; base doubles in over 12 months

Domestic brokerage Angel One, formerly Angel Broking, crossed the 10-million customers mark in May, more than doubling its customer base over the past 12 months.

In May alone, it added over 0.47 million new customers, taking its overall customer base to 10.10 million.

On an annualised basis, the gross addition grew by 108.7 per cent in the 12 months ending May 2022, the city-based securities firm said in a statement on Monday.

The brokerage processed 70.63 million orders, a 48.4 percent growth, in May. It has also registered impressive numbers in other areas with its overall average daily turnover growing 88.2 per cent to Rs 8.94 lakh crore in May, helping its average client funding book surge 60.4 per cent to Rs 1,884 crore, its chief executive Narayan Gangadhar said.

Angel One claims over 80 per cent of its new customers are first-time investors and under 30 years, who mostly hail from small towns.

The 25-year-old firm, which went public with a Rs 600-crore IPO in September 2020, had 4.12 million customers in March 2021, up from just 1.82 million in FY19.