Angel One To Transfer Key Businesses To Subsidiary

Angel One Ltd. announced on Wednesday that its board has granted in-principle approval to transfer the company’s securities broking segment, depository participant operations, mutual fund distribution business, and research analyst business to its wholly-owned subsidiary, Angel Securities Ltd. 

The transfer will be carried out through a slump sale for a lump sum consideration, as per the exchange filing.

The company stated that the proposed transfer is aimed at streamlining its organisational structure and enhancing its competence to explore additional product offerings within the financial services domain.