Angel Broking IPO Subscribed 91% So Far On Day 2

Edited by Sandeep Singh

23 Sep 2020, 11:28 AM IST

Angel Broking shares will be listed on stock exchanges BSE and NSE on October 5

Angel Broking's IPO or initial public offer was nearly fully subscribed on Wednesday, the second day of bidding. By 11:15 am, 1.25 crore bids were received for its total issue size of 1.38 crore shares, marking a subscription of 91.05 per cent, according to data from the National Stock Exchange (NSE). The Mumbai-based brokerage's IPO, worth Rs 600 crore, will remain open for subscription till Thursday, September 24. Angel Broking is the first brokerage in the country to go public in past 10 years. Angel Broking is the latest company to tap the country's IPO market, which has picked up momentum following a lukewarm start to the year.

Here are some key details about the Angel Broking IPO:

Issue Price: Angel Broking has set a price band of Rs 305-306 per share for the initial public offer.

Important Dates: Angel Broking shares will be listed on stock exchanges BSE and NSE on October 5.

Lot Size: Investors can purchase between one to 13 lots of shares under the public offer.

Fund Utilization: The company plans to utilize the funds raised through the IPO towards general corporate purposes. (Also Read: Should You Invest In Angel Broking IPO? Here's What Analysts Say | Happiest Minds Technologies Shares Make Strong Debut)

Company Profile: Angel Broking is one of the largest retail broking houses in the country in terms of active clients. It provides broking services across equity, commodity and currency segments, and also facilitates the opening of demat accounts for its clients.