Thread by @sahil_vi

Planning to live tweet the #Angel AGM. In case anyone is interested.

Company description in the quoted tweet thread.

https://twitter.com/sahil_vi/status/1395754981609725954

In 2016, were among the first BFSI to launch digital KYC.

Nse active clients has grown at cagr of 23% between 2014 and 2021.

Lots of mention of artificial intelligence and machine learning. Now an established Fintech broker.

671 million trades in fy21.

3.8x growth in margin funding book yoy.

At least 35% of profit will be shared as dividends with shareholders on quarterly basis.

Today's genZ will be tomorrow's wealth creators. Want to onboard them early.

Will start the process of seeking regulatory approval for amc. Will launch low cost smart beta ETF.

Q1. Why did the ipo come after 25 years?
Q2. How many staff affected by covid ?
Q3. Investor would like to see building
Q4. Share of revenue from distribution
Q5. Will we enter crypto?
Q6. What is the future roadmap for next 25 years ?

Ans :
1. It takes time for company to scale up and give profits. When we saw reliance jio launch we saw that a structural change and so we decided to ipo.

2 & 3. We do have a large corporate office in mumbai. Structure of office required for digital player is very different. We have adopted a culture of work from anywhere. Our employees can work from anywhere.

5. Waiting for regulatory approval. will enter after regulations are clear.

We do have research and advisory service. But given that we have 50 lakh clients we can't do it physically.

6.look forward to becoming a large fintech player.

4. Distribution income contributed 155 million. Average interest rate Charged to client for margin funding is 16% pa.

Shareholder 2:
7. I have a 3-1 account in icici. Brokerage are higher there but I am happy with bank backed broker.
8. Develop something good in Calcutta.
9. Other brokerage bouses take 15 rs. Why do you charge 20 rs.
10. Other brokerage firms charge 9%, why do you charge 18%?

11. Please give gifts to all shareholders who spoke at agm. I can pay for it if needed. I don't need it, but it is a memento.

9. We give research, do lot of app development. Pricing is according to the costs. Ones charging 5 and 10 rs won't be able to provide service.

10. Our rates are similar to competitors for margin funding. This is different from loan against shares product.

Shareholder 3:
12. Impact of covid on our business. Did we fire any employees or salary cut. Any cost cutting measures?
13. My angel account was shifted from Chennai to Mumbai to Bangalore to delhi.

Answers
12. Covid worked in our favor. Equity culture spread fast and wide across tier 2 and 3 and beyond. We recruited more people. No salary cut. Operating leverage playing out. Legal and audit fees is in line with volume and scale of biz.
13. Will look into it.

Shareholder 4:
Just praises the co.

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