| Broking and related services | Equity, commodity, currency broking; margin trading; portfolio management services; depository services. | Strong brand, largest client base, proprietary AI platform ARQ, extensive digital and assisted distribution network. | Retail investors across India including Gen Z and millennials served via digital platforms and assisted channels (B2C and B2B). | Margin trading and derivatives broking generate highest margins. | 2499 | 48 | Brokerage fees, commissions, margin interest, and portfolio management fees. | Transaction-based brokerage, margin funding interest, subscription for advisory services. | Rising retail participation, digital adoption, regulatory reforms bolstering trust and volume growth. | Angel Broking App, Angel SpeedPro |
| Finance and Investing activities | Mutual fund distribution, asset management schemes, wealth management services, credit and loans against shares. | In-house AMC with index & ETF products, AI-enabled advisory, growing client wallet share. | Retail investors, high-net-worth individuals through digital and relationship management channels. | Asset management and wealth advisory with recurring revenue streams. | 3 | 0 | Management fees, commission on distribution, interest income from loan products. | Fee based on assets under management and loan interest. | New product launches, SIP growth, expanding wealth management mandates. | Angel One AMC, Ionic Wealth |
| Health and allied fitness activities | Minor ancillary services with no material revenue contribution. | | | | 0 | 0 | | | | |
