With the IPO season kicking off, right on the heels of the Chemcon IPO, a popular stockbroking house has launched its IPO – Angel Broking Limited. Launching on September 22, 2020, the Angel Broking IPO is one of the most anticipated IPOs of 2020. Here is a look at all the details of the IPO.
You can apply for Angel Broking IPO on Groww web easily via UPI. Go to IPO ( login to your account). There you would be able to see the list of all open IPOs. Select Angel Broking IPO and click on ‘Apply’.
Read More: Steps to Invest in IPO on Groww
Angel Broking IPO Details
|IPO Date||September 22, 2020 to September 24, 2020|
|Issue Type||Book Built Issue IPO|
|Issue Size||Equity Shares of Rs.10 – Rs.600 crore|
|Fresh Issue||Equity Shares of Rs.10 – Rs.300 crore|
|Offer for Sale||Equity Shares of Rs.10 – Rs.300 crore|
|Face Value||Rs.10 per equity share|
|IPO Price||Rs.305 to Rs.306 per equity share|
|Market Lot||49 Shares|
|Min Order Quantity||49 Shares|
|Listing At||BSE, NSE|
|Bid/Offer Launch date||September 22, 2020|
|Bid/Offer Last date||September 24, 2020|
|Basis of Allotment finalization date||September 29, 2020|
|Initiation of Refunds||September 30, 2020|
|Credit of Shares to Demat Acct||October 01, 2020|
|IPO Shares Listing Date||October 5, 2020|
|Category||Number of shares||Amount (in crores)|
Launched in 1996, Angel Broking Limited is one of the largest full-service retail broking houses in India. It offers retail trading opportunities in products like equity, mutual funds, commodities, PMS, IPOs, etc. along with depository services.
Angel Broking is a member of the Bombay Stock Exchange (BSE), National Stock Exchange (NSE), Metropolitan Stock Exchange of India Ltd. (MSEI), Multi Commodity Exchange of India Ltd. (MCX), and the National Commodity & Derivatives Exchange Limited (NCDEX).
As of June 30, 2020, Angel Broking Limited is one of the largest retail broking houses in India in terms of the number of active clients on the NSE. The company’s customer outreach spans across 96.87% of pin codes in India with more than 2.15 million operational broking accounts and around Rs.132540 million in client assets as on June 30, 2020.
It is a tech-driven company offering broking and advisory services, margin funding, loan against shares, and financial product distribution to its clients. Angel Broking offers its services via a range of digital, web, and .exe platforms. The seamless integration between these platforms allows its clients to have a hassle-free experience allowing the company to benefit from the development of the Indian financial market with a clear emphasis on digitization.
Angel Broking proposes to utilize the net proceeds from this issue towards funding the following objects:
Here is a quick look at some important information about Angel Broking Limited:
|Profit After Tax||381.83||866.24||766.94||1,010.52|
All amounts in INR million
You can apply for the Angel Broking IPO by using one of these two methods of payment:
While Angel Broking is a famous name in the stockbroking industry, before investing in its IPO, ensure that you read through the company’s financials and the Red Herring Prospectus (RHP) carefully. Remember, as India and the entire world is taking steps to minimize the economic impact of the pandemic, some businesses will thrive while some might perish. Ensure that you consider all aspects carefully before investing.