Deals13 May 2025, 03:11 am
Angel One Ltd. to Transfer Stockbroking, Research Analyst, and Mutual Fund Distribution Businesses to Subsidiary for Lump Sum Consideration
AI Summary
Angel One Ltd. has informed the BSE that the Board of Directors will meet on May 14, 2025, to consider and approve the transfer of the Stockbroking, Research Analyst, and Mutual Fund Distribution businesses to its wholly owned subsidiary, Angel Securities Limited, as a going concern through a slump sale for a lump sum consideration. The draft business transfer agreement between the Company and Angel Securities Limited will also be considered and approved. The trading window in respect of equity shares of the Company will remain closed till the information becomes generally available.
Key Highlights
- Angel One Ltd. to transfer Stockbroking, Research Analyst, and Mutual Fund Distribution businesses to Angel Securities Limited
- Transfer to be carried out as a going concern through a slump sale for a lump sum consideration
- Draft business transfer agreement between the Company and Angel Securities Limited to be approved
- Trading window in respect of equity shares of the Company to remain closed till the information becomes generally available
- Trading window to open after 48 hours from the information becomes generally available