Angel Broking’s IPO will stay open for subscription until Thursday
Angel Broking’s IPO or preliminary public supply was subscribed 76 per cent on Tuesday, the primary day of bidding. The brokerage’s IPO is price Rs 600 crore, and can stay open for subscription until Thursday, September 24. This makes Angel Broking the agency brokerage agency to go public in previous 10 years. Mumbai-based Angel Broking has set a value band of Rs 305-306 per share for the preliminary public supply. (Additionally Learn: Sensex Falls 300 Points Amid Selloff Across Sectors)
On the finish of first day of bidding, 1.05 crore bids had been acquired for its complete concern dimension of 1.38 crore shares, marking a subscription of 76.26 per cent, knowledge from the NSE confirmed.
Angel Broking shares will likely be listed on inventory exchanges BSE and NSE on October 5.
The corporate plans to make the most of the funds raised by means of the IPO in direction of normal company functions.
Buyers should buy between one to 13 a lot of shares underneath the general public supply.
On Monday, Angel Broking raised Rs 180 crore from 12 anchor traders.
(Additionally Learn: Should You Invest In Angel Broking IPO? Here’s What Analysts Say)
Angel Broking is among the largest retail broking homes within the nation by way of energetic purchasers. It supplies broking providers throughout fairness, commodity and foreign money segments, and in addition facilitates the opening of demat accounts for its purchasers.
Angel Broking is the newest firm to faucet the nation’s IPO market, which has picked up momentum following a lukewarm begin to the 12 months.
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