Angel One Franchise

Angel One doesn't disclose the amount of any of these charges.

* Breakdown as published by Angel One. Angel One confirms one charge without disclosing the amount — get it in writing before you pay.

Ways to Partner with Angel One

1 partner model published by the brand. Figures it doesn't publish are left blank.

What the press, courts and real franchisees or customers have said about Angel One — summarised by us, with every source linked.

• regulatory· Jun 2026

  Angel One pays ₹4.28 Cr to settle SEBI case over AP supervision

  SEBI alleged Angel One did not properly supervise two Authorised Persons. The alleged lapses included missing unauthorised fund collection, disproportionate trading and social-media promotions claiming assured returns. Angel One settled and remitted the amount on 22 May 2026.

  Source: Moneylife
• regulatory· Nov 2025

  SEBI fined Angel One ₹3 lakh over an Authorised Person's terminals

  After a joint SEBI–NSE inspection, SEBI's adjudicating officer found that terminals mapped to one AP were operated by unapproved people and from locations not reported to the exchange, and that Angel One did not supervise its APs adequately. It imposed a ₹3 lakh penalty.

  Source: SEBI adjudication order
• regulatory· Jul 2023

  NSE fined Angel One and paused new AP onboarding for six months

  In a July 2023 order, NSE's committee imposed a ₹1.67 Cr penalty after an audit of Angel One's top 3,000 APs found non-compliance at 759 of them. It barred Angel One from onboarding new APs for six months and ordered an inspection of all its APs. Angel One said existing AP business was not affected and that it was considering an appeal.

  Source: NSE committee order
• regulatory· Nov 2024

  SEBI fined Angel One ₹6 lakh after an inspection that included lapses over four APs

  SEBI's adjudicating officer found that Angel One's own inspections missed non-compliance by its APs and that it lacked proper due diligence and control over them, among other findings, and imposed a ₹6 lakh penalty.

  Source: SEBI adjudication order
• regulatory· Aug 2023

  SEBI warned Angel One over clients introduced through a sub-broker

  In a case about shares sold through 26 bogus client accounts in 2009–2013, SEBI found Angel One had accepted orders from unauthorised individuals and not ensured KYC forms were complete. It rejected a recommended three-month suspension and issued a warning instead.

  Source: SEBI order
• regulatory· Apr 2023

  SEBI fined Angel One ₹10 lakh after inspecting its broking operations

  A joint SEBI, exchange and depository inspection covering Apr 2019–Dec 2020 found lapses including in settling and reconciling client funds and securities, client records and executing trades without evidence of client orders. SEBI imposed a ₹10 lakh penalty.

  Source: SEBI adjudication order

Products an Authorised Person can offer

Source: Angel One partner page

Key Terms at Angel One

The clauses that shape day-to-day running and your exit — read these before the fee.

Payments to the brand

An AP can be paid only by the stock broker (fees, commission, etc.) and must not charge clients anything.

Other terms

An AP must not receive or pay money or securities in its own name; client funds and securities move only between the broker and the client.

The broker and AP sign a written agreement in the exchange's format covering scope, responsibilities, confidentiality, commission sharing and termination; the broker is responsible for the AP's acts.

Non-compete

A person can be an AP of only one stock broker on the same stock exchange.

Exit

An AP cannot move its approval to another broker; it cancels with the current broker and applies afresh with the new one (both can be filed at the same time).

If an AP cannot be traced, the broker can apply to cancel the approval one month after serving a termination notice.

Other terms

The stock exchange's arbitration mechanism is available for disputes between the broker and the AP.

Legal & Contract Summary

Key contract terms at a glance — read before you sign.

Who Can Apply for Angel One

Conditions the brand sets for partners, and the licences the business needs.

• Education (Angel One): 10+2 / HSC, or at least 2 years as an employee or dealer in the capital marketRequired
• Age and citizenship (SEBI): Indian citizen, at least 18 years oldRequired
• Minimum education (SEBI floor): Passed at least 10th standardRequired
• Character (SEBI): Good character; no conviction for fraud or dishonestyRequired
• Office and staff (SEBI): Adequate office space, equipment and manpower; staff dealing with clients must hold the certification required for each segmentRequired
• Entity type (NSE): Resident individual, registered partnership firm, LLP or company; an HUF cannot be an APRequired
• One broker per exchange (SEBI/NSE): A person can be an AP of only one stock broker on the same exchangeRequired
• Documents (Angel One): PAN, Aadhaar, education proof, residence and office address proof, photographs and a CA reference letterRequired

About the Brand

The franchisor's own company health — separate from what a single franchise outlet earns.

A profitable franchisor doesn't mean profitable franchisees. These are the company's numbers, not an outlet's. A franchisor can grow on fees and supplies while outlets struggle — talk to existing franchisees and see their accounts before you decide.

Company Health Check

What Angel One's franchisor company has filed with the registrar and the courts — the checks a lawyer would run before you sign.

Status with the registrar

Active

Annual filings

Up to date

Last AGM

9 Jun 2025

Paid-up capital

₹91.09 Cr

Source: Tracxn — Angel One Limited legal-entity record (MCA filings), read Sep 2026 (checked May 2026)

How Angel One looks once the numbers are checked side by side.

• ✓The franchisor company is profitableIts latest filed accounts show a net profit. That's the franchisor's money, not yours: a profitable franchisor doesn't mean its franchisees make money. Check real outlet numbers before you invest.
• ✓Brand operating for 30 yearsFounded in 1996. The brand doesn't state when franchising began.
• !6 red flags in the news or public discussionSee Reputation & News below, and ask the brand to address each one.

Ask Before You Sign

Questions tailored to what Angel One does and doesn't publish.

1. 1Speak to at least 3 franchisees who have run an outlet for 2+ years and see their actual monthly sales and profit — a franchisor making money doesn't mean its franchisees do.
2. 2Get a written, itemised cost breakdown — the brand hasn't published one.
3. 3Ask for every upfront payment in writing — deposit, onboarding, equipment or stock — and which parts are refundable.
4. 4Ask exactly how your margin or commission is calculated, when it's paid, and whether the brand can change it.
5. 5Ask for the agreement term, renewal fee and exit or transfer terms.
6. 6Ask whether you get an exclusive territory, and how large it is.
7. 7Ask the brand to respond to each red flag listed under Reputation & News.
8. 8Have a lawyer review the franchise agreement before paying anything.
9. 9Visit 2–3 existing outlets and speak to their owners without the brand present.

What Angel One franchisees say

We haven't yet heard from enough Angel One franchisees to show anything. We publish totals once 3 or more people who run an outlet have answered and we've called each one to check.

Frequently Asked Questions