The brokerage agency has fastened value band of the share sale at Rs 305-Rs 306 per share.
Angel Broking’s Rs 600 crore preliminary public provide (IPO) will open for bidding on Tuesday i.e. September 22 and can shut on September 24. The brokerage agency has fastened the worth band of the share sale at Rs 305-Rs 306 per share. The shares will likely be listed on each the benchmark indices, BSE and NSE, on October 5.
The general public provide will include recent challenge of Rs 300 crore and a proposal on the market of Rs 300 crore by the promoters. Traders are eligible to bid for a minimal one lot of 49 shares and in multiples thereof, extending as much as 13 tons.
Angel Broking will increase Rs 600 crore via the book-building challenge (on the increased finish of the worth band). The corporate will use the the recent challenge proceeds for its working capital necessities and common company functions.
Angel Broking was established in 1996. It is among the oldest inventory broking homes within the nation, offering broking, advisory and monetary providers. Dinesh D. Thakkar, Ashok D. Thakkar and Sunita A. Magnani are the promoters of the corporate.
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HDFC Securities, in a consumer notice, mentioned, “Within the three months interval ending June 30, 2020, Angel Broking witnessed a mean month-to-month consumer addition of roughly 115,565 purchasers, over a month-to-month common of 46,676 purchasers in FY20, representing a development of 147.59 per cent. During the last one 12 months, Angel Broking has greater than doubled its general turnover market share within the retail broking house in India.”
“Angel Broking has sturdy capabilities to amass clients via numerous diversified digital platforms. From Q2FY20 to Q1FY21, 79.76 per cent of its purchasers have been acquired digitally, of which, 50.76 per cent are acquired via efficiency advertising, both by the use of natural or paid leads, 22.24 per cent via referrals from current purchasers and 6.77 per cent via digital influencers,” HDFC Securities added.
