Thebrokerage agency’s public providing will likely be open between September 21 and September 24.
Angel Broking’s Rs 600 crore preliminary public provide (IPO) will open on September 22. The brokerage agency’s public providing will likely be open between September 21 and September 24, at a worth band of Rs 305-Rs 306 per share. The shares will likely be listed on each BSE and NSE, on October 5, 2020.
Angel Broking plans to boost as much as Rs 600 crore by way of the book-building situation, comprising contemporary situation of Rs 300 crore and a suggestion on the market of Rs 300 crore by the promoters. The traders can bid for a minimal one lot of 49 shares and in multiples thereof, as much as 13 heaps.
The corporate will use the proceeds of the contemporary situation to satisfy working capital requirement and for basic company functions.
Integrated in 1996, Angel Broking 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.
ICICI Securities, Edelweiss Capital and SBI Capital Markets are the lead managers for the provide, whereas Hyperlink Intime India is the registrar.
ICICI Securities was the final large IPO from the broking house to hit the market, means again in March 2018. Amongst different main broking companies, Motilal Oswal Monetary Providers was listed in 2007 and Emkay World, in 2006.
The Angel Broking public provide would be the eight IPO in 2020 after SBI Card, Rossari Biotech, Mindspace Enterprise Parks REIT, Happiest Minds, Route Cell, Chemcon Speciality Chemical compounds and Pc Age Administration Providers.
