Shares of AngelOne fell over 5 per cent after the National Stock Exchange of India Limited (NSE) imposed a six-month ban on the company from onboarding new authorised persons (APs). The decision was taken due to alleged failures in monitoring AP operations.
Authorised persons act as intermediaries between investors and stockbrokers, facilitating the investment process. The NSE’s action raises concerns about AngelOne’s oversight of these intermediaries. The ban may impact the company’s ability to expand its AP network and hinder business growth in the short term.
The company said the order will have no impact on its existing operations. AngelOne Ltd’s share price decreased by 5.07 per cent to ₹1,621 at 10:46 a.m. on BSE.