Angel Broking's Rs 600 crore initial public offering (IPO) will list on the bourses on Monday i.e. October 5, 2020 at 10:00 am. The IPO had received a muted response from the investing community. The public offer of the broking firm was subscribed 3.94 times, receiving bids for 5.4 crore equity shares as against the offer size of 1.37 crore equity shares, as per data available with the stock exchanges. The retail category was subscribed 4.31 times, qualified institutional buyers portion received 5.74 times subscription and non-institutional investors category, 69 per cent.
Angel Broking IPO was open for bidding between September 22 and September 24, 2020. The public offer consisted of a fresh issue of Rs 300 crore and an offer for sale of Rs 300 crore.
The lead managers for the share offering were ICICI Securities, Edelweiss Capital and SBI Capital Markets, whereas Link Intime India was the registrar to the issue.
Angel Broking, incorporated in 1996, is one of the oldest stock broking houses in the country. It provides broking, advisory and financial services. The promoters of Angel Broking are Dinesh D. Thakkar, Ashok D. Thakkar and Sunita A. Magnani.
Among the IPOs to list on the bourses last week, Chemcon Speciality Chemicals shares had listed at Rs 731, a premium of 115 per cent over its issue price of Rs 340 and Computer Age Management Services (CAMS) had listed at a premium of 23.41 per cent at Rs 1,518 as against the issue price of Rs 1,230.