Angel One Limited has informed the Exchange regarding Board meeting held on May 14, 2025.
ANGELONE · price
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The board of Angel One Limited, at its meeting on May 14, 2025, gave in-principle approval to transfer its securities broking, depository participant, mutual fund distribution and research analyst businesses (collectively the 'Business Undertaking') to Angel Securities Limited (ASL), a wholly owned subsidiary, through a slump sale on a going-concern basis. The consideration will be discharged by issuing Compulsorily Convertible Preference Shares (CCPS) by ASL to the company, with the final deal value still to be agreed. The business being transferred accounted for 99.14% of revenue (INR 51,389.69 million) and 84.86% of net worth (INR 47,501.72 million) of Angel One Limited as on March 31, 2025. The board also approved holding the 29th Annual General Meeting on June 9, 2025 via video conferencing, and fixed May 30, 2025 as the record date for the final dividend, subject to AGM approval. The transaction is subject to shareholder and other regulatory approvals.
Although the transfer is to a wholly-owned subsidiary and will have no impact on a consolidated basis, the listed entity is effectively moving nearly all of its revenue and most of its net worth into a subsidiary — investors should track the final BTA terms, valuation, and the rationale for this restructuring, while the upcoming record date confirms dividend eligibility for FY25.