Angel Broking IPO To Open On September 22. Should You Invest?

Angel Broking’s Rs 600 crore preliminary public provide (IPO) will open for bidding on Tuesday i.e. September 22 and can shut on September 24. The brokerage agency has fastened the worth band of the share sale at Rs 305-Rs 306 per share. The shares will probably be listed on each the benchmark indices, BSE and NSE, on October 5.

The general public provide will encompass contemporary concern of Rs 300 crore and a proposal on the market of Rs 300 crore by the promoters. Traders are eligible to bid for a minimal one lot of 49 shares and in multiples thereof, extending as much as 13 tons.

Angel Broking will elevate Rs 600 crore by the book-building concern (on the greater finish of the worth band). The corporate will use the the contemporary concern proceeds for its working capital necessities and normal company functions.

Angel Broking was established in 1996. It is likely one of 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.

Ought to You Subscribe To Angel Broking IPO?

HDFC Securities, in a consumer be aware, mentioned, “Within the three months interval ending June 30, 2020, Angel Broking witnessed a mean month-to-month consumer addition of roughly 115,565 shoppers, over a month-to-month common of 46,676 shoppers in FY20, representing a progress of 147.59 per cent. During the last one 12 months, Angel Broking has greater than doubled its total turnover market share within the retail broking house in India.”

“Angel Broking has robust capabilities to amass clients by numerous diversified digital platforms. From Q2FY20 to Q1FY21, 79.76 per cent of its shoppers have been acquired digitally, of which, 50.76 per cent are acquired by efficiency advertising, both by the use of natural or paid leads, 22.24 per cent by referrals from present shoppers and 6.77 per cent by digital influencers,” HDFC Securities added.