Angel Broking is an Indian stockbroker firm which began in 1987. This broking house has been building its trust and customer relations ever since. Angel broking has emerged as one of the most reputed stock broking and wealth management companies in India. The firm is a member at the BSE and NSE as well as the 2 other leading stock exchanges, namely- MCX and NCDEX. Angel broking is also a depository participant with CDSL. The company has 8500+ sub-brokers and franchise outlets in more than 900 cities across India.
The company provides financial statements which also include online stock broking, commodity trading, investment advisory services. The company was incorporated in the year 1997 as a wealth management, retail and corporate broking firm. In 2006 they introduced the scheme of PMS (portfolio management services), IPO’s business and Mutual funds distribution (MFD) arm. The company also publishes research reports on investment banking.
The company has a strong presence in the market, consisting a market share of 6.3% and 2.15 million operational broking accounts as on June ’20.
It has been announced that on 22nd September the subscription for Angel broking IPO will be open for applications. The net proceeds received through this IPO will be used for meeting working capital requirements and general corporate purposes. The issue type of this IPO is through book building process. The issue size is of Rs. 600crores.
The price band set for this IPO is RS. 305-306.
The minimum order quantity is decided through the market lot which is of 49 SHARES EACH LOT.
The proposal of listing of this IPO is done, it will be listed on the BSE and NSE.
TENTATIVE:
The bidding’s open date is 22nd September and the closing date is 24th September. The finalization of the basis of allotment will be done by 29th September. The investors who are not allotted the shares will be getting their money refund in combination with a letter of regret from 30th September. The shares will be credited to the Demat A/c of the ones who are allotted the shares by 01st October. The listing date will be 05th October.
An investor can buy maximum 13 market lots which means 194,922 shares.
NEWS REPORTED BY:
VRIDHI BHAGNARI.
