Angel Broking IPO Oversubscribed On Day 2
Angel Broking's initial public offer (IPO) was fully subscribed on Wednesday, the second day of bidding. The Mumbai-based brokerage's IPO, worth Rs 600 crore, will remain open for subscription till Thursday, September 24. The company plans to utilize the funds raised through the IPO towards general corporate purposes. Angel Broking is the first brokerage in the country to go public in past 10 years, and is the latest company to tap the country's IPO market, which has picked up momentum following a lukewarm start to the year. (Also Read: Should You Invest In Angel Broking IPO?)
By 5:30 pm, 2.01 crore bids were received for the IPO's total issue size of 1.38 crore shares, marking a subscription of 145.92 per cent, according to data from the National Stock Exchange (NSE).
Angel Broking IPO Issue Price
Angel Broking has set a price band of Rs 305-306 per share for the initial public offer.
Lot Size
Investors can purchase between one to 13 lots of shares under the public offer, wherein each lot is of 49 shares.
Listing
Angel Broking shares will be listed on stock exchanges BSE and NSE on October 5.
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.
