The shares of Angel One appeared to suffer a catastrophic 90 per cent plunge during Thursday’s trading session, but investors can breathe a sigh of relief. This massive price drop was not the result of a market sell-off or poor performance; rather, it was a scheduled technical adjustment. On February 26, 2026, the stock officially turned "ex-split," meaning the market price was recalibrated to account for the company's 1:10 stock subdivision. While the screen price moved from nearly Rs 2,490 to approximately Rs 250, the underlying value of an investor's total holding remained exactly the same.
This corporate action, announced alongside the Q3FY26 results on January 15, involved splitting each existing equity share with a face value of Rs 10 into 10 equity shares with a face value of Rs 1 each. For a shareholder, this means that for every single share they held on the record date, they will now find ten shares in their demat account. While the unit price has been divided by ten, the quantity of shares has been multiplied by the same factor, ensuring that the total investment capital is preserved without any loss to the participant.
Companies typically opt for stock splits to improve market liquidity and make their shares more accessible to a broader base of retail investors. By lowering the entry price from over Rs 2,500 to roughly Rs 250, Angel One has effectively lowered the barrier to entry for smaller traders. While the company’s overall market capitalisation—which remains robust at over Rs 22,000 crore—does not change during a split, the increased number of outstanding shares often leads to higher trading volumes and better price discovery in the long run.
Since its initial public offering in October 2020 at a price of Rs 306 per share, Angel One has been a standout multibagger in the broking sector. Even with the stock currently trading about 24 per cent below its 52-week high of Rs 3,283 (hit in June 2025), it has delivered a staggering 715 per cent return in less than six years. This split marks the first such subdivision in the company's history as a listed entity, signalling a new phase of maturity and a desire to encourage wider participation in its growth story.
The backdrop for this corporate action is a strong financial performance in the December 2025 quarter. Angel One reported an 11 per cent sequential increase in revenue, reaching Rs 1,337.7 crore. More impressively, the net profit rose 27 per cent quarter-on-quarter to Rs 269 crore. With EBDAT margins sitting at a healthy 39.4 per cent and broking orders rising to 38 crore for the quarter, the operational fundamentals suggest that the company is effectively navigating the competitive fintech and broking landscape.
Beyond the stock split, Angel One has maintained a consistent track record of rewarding its investors through dividends. In January 2026 alone, the board approved an interim dividend of Rs 23 per share. This follows a string of payouts, including Rs 26 in May 2024 and Rs 21 in January 2025. This disciplined return of capital, combined with a recent Rs 50 crore fundraise via non-convertible debentures (NCDs) for expansion, highlights a balanced approach between aggressive growth and shareholder value.
On the day of the split, the stock saw active participation with millions of shares exchanging hands across the BSE and NSE. While the stock slipped marginally by about 1.5 per cent to 3 per cent in intraday trade following the adjustment—likely due to general market volatility—it remains a heavyweight in the broking industry. With a market cap exceeding Rs 22,000 crore and a rapidly growing user base, the "90 per cent crash" is nothing more than a cosmetic change that sets the stage for potentially higher retail engagement in the future.
Stock Split vs Bonus Issue
Investors need to distinguish this move from a bonus issue. While both increase the share count, a stock split specifically reduces the face value of the share and subdivides the existing capital. In contrast, a bonus issue involves issuing additional shares from the company’s accumulated earnings without changing the face value. In Angel One’s case, the reduction in face value from Rs 10 to Rs 1 is the defining characteristic of this adjustment, ensuring that future dividends will also be adjusted proportionately to the new share count.
Disclaimer: The article is for informational purposes only and not investment advice.
From Rs 2,500 to Rs 250 in Just 1 Day: Angel One Shares Plunge 90%; Why This Crash is Actually Good News for You?