Angel One adds 2.38 mn customers in H1 2021

Mumbai: Digital-focused brokerage Angel One, formerly known as Angel Broking, has been on an average adding almost four lakh new customers each month so far this fiscal, as it has on-boarded a massive 2.38 million customers during April-September, taking the overall client base to 6.52 million.

The city-based brokerage, which is the largest publicly traded standalone retail broking firm in the country, has added 3.9 lakh new customers in September. It made September the sixth consecutive month to add close to four lakh customers this fiscal, the company said in a statement. It added that the new additions take the overall number of clients to 6.52 million, up from 4.12 million in FY21 and 1.82 million in FY19.

While the September addition of 3.9 lakh new customers is a growth of 99.3 per cent on an annualised basis, the total number of gross clients at 6.52 million as of September is a whopping 142 per cent growth over the same period in September 2020, the brokerage said. Its Chief Executive Officer Narayan Gangadhar attributed the continuing fast growth in customer addition to the digital-first strategy that has created the ground for innovation.

August saw Angel One, the largest listed retail stockbroking house in the country in terms of active clients on the NSE, adding 4.5 lakh customers and taking the total customers to 6.15 million, up 145.7 per cent y-o-y. Since the market began to bounce back from July of 2020 after the washout in the first half of the year following the pandemic scare, brokerages have been adding a record number of new demat customers.

This massive growth is reflected in the BSE data. Between June 6 and September 21 this year, 10 million more registered users or investor accounts on the BSE were added to scale past the 80 million or eight crore mark. On June 6 this year, the BSE had said its registered user base crossed the seven crore or 70 million mark, which was an addition of 20 million or 2 crore registered investor accounts in a little over 12 months, from May 23, 2020, the BSE had said.