Dinesh Thakkar started his business in 1987 with a capital of Five Lakhs Indian Rupees and lost half of the money within eight months. In 1989, he started off again as a sub-broker. Later, Angel Broking was incorporated as a wealth management, retail and corporate broking firm in December, 1997. In November 1998, Angel Capital and Debt Market Ltd. gained membership of National Stock Exchange as a legal entity. The company opened its commodity broking Division in April, 2004. In November 2007, Birla Sun Life Insurance joined hands with Angel Broking for distribution of its insurance products. In 2007, the World Bank's arm International Finance Corporation bought an 18% stake in Angel Broking. In January 2013, a probe found the company and two other entities involved in fraudulent and unfair trade practices in transactions of shares of Sun Infoways during Feb-May 2001. As a result, SEBI restrained from taking new clients for a period of two weeks. Angel filed an appeal against the SEBI order which was dismissed by the Securities appellate tribunal. Recently Angel Broking has filed for an IPO with SEBI for an amount of Rs 600 crore. This offer includes issuance of new shares worth Rs 300 crore and stake sale by promoters and IFC selling Rs 120 crore worth of stake.
Angel Broking has products such as Angel Eye, Angel BEE mutual fund app, Angel SpeedPro, Angel Trade and Angel Swift for online trading. Angel Eye is a browser trading application; SpeedPro is a trading platform application; Angel Trade offers an online trading platform for share investors; and Swift is a trading app for small devices. Angel Broking app has been incorporated with a machine learning technology called ARQ, that keys in up to a billion data points and uses advanced nature-based algorithms, quantitative analysis and the Nobel-prize winning Modern Portfolio Theory to enable personalized investment advice to help users get better returns on investments. ARQ is based on a model where performance has been optimized to provide recommendations with high probability of outperformance and strike rates. The model has been tested using scientific back-testing and has also been validated based on its track record. Services Stockbroker Equity trading Commodities Portfolio management services Mutual funds Life insurance Health insurance IPO Depository services Investment advisory Subsidiaries Angel Commodities Broking Pvt. Ltd. Angel Fincap Pvt. Ltd. Angel Financial Advisors Pvt. Ltd. Angel Securities Ltd.