Angel One Stock Gains 3% On Rs 2.5 Bn Funding For Tech Infra, Market Expansion
The landscape of wealth management is rapidly evolving, with a 16 per cent CAGR of India's HNI population, projected to grow to 1.65 million by 2027
The stock of Angel One witnessed 3 per cent gain in the Thursday trading session after the brokerage firm revealed its plan to cater India’s affluent HNI and UHNI clientele through a synergy of domain expertise and tech application.
Angel One stock traded at Rs 222 with 2.3 per cent gain in the afternoon session on the National Stock Exchange (NSE).
Strategically backed by Angel One, Angel One Wealth (AOW) is developing an omnichannel wealth-tech platform comprising three integrated business verticals – HNI, UHNI and Alternate Assets.
The landscape of wealth management is rapidly evolving, with a 16 per cent CAGR of India's HNI population, projected to grow to 1.65 million by 2027.
"Through AOW we aim to cater to an expansive spectrum of clients, by leveraging technology and staying at the forefront of innovation. The seasoned investment professionals’ team brings strong domain knowledge that enables us to capitalise on the evolving wealth landscape,” said Dinesh Thakkar, Chairman and Managing Director, Angel One.
AOW aims to overcome industry challenges such as barriers to innovation in investment strategies, high operational cost and higher fees using new-age tech infrastructure. The Rs 2.5 billion capital infused by Angel One will be strategically deployed to develop core technological infrastructure, leveraging AI and analytics, expand presence in key markets and develop curated, expert-led product strategies and suites.
“We want to reimagine wealth management for India’s HNIs and UHNIs on the bedrock of deep domain expertise and the power of technology. We are happy to have the strategic backing of Angel One in this journey, leveraging their technological prowess. We are building an omni-channel solution that will enhance the value of a trusted wealth manager through digital infrastructure and new-age technology,” said Srikanth Subramanian, Managing Director and CEO, AOW.
