New Delhi, Business Desk. The initial public offering (IPO) of Angel Broking, one of India’s largest retail broking houses, will open for subscription on 22 September. In this IPO, the price band has been fixed from Rs 305 to Rs 306 per equity share. Angel Broking plans to raise Rs 600 crore through this offer.
The promoters and investors will hold their stake of Rs 300 crore in this IPO. At the same time, fresh shares worth Rs 300 crore will also be issued in this offer. The last date for subscription in this IPO will be 24 September.
Talking about the shares held by the promoters for sale in the IPO, Ashok D Thakkar will hold equity shares worth Rs 18.33 crore and Sunita A Magnani for Rs 4.5 crore. At the same time, the investor IFC will hold its stake of Rs 120 crore for sale. In addition, individual shareholders will hold their stake of Rs 157.16 crore for sale.
Anchor investors in this IPO will be able to bid on 21 September. A lot will be of 49 shares in the IPO. That is, at least 49 shares have to be bid. After this, bids can be made for shares in multiples of 49. The equity shares offered in this IPO are proposed to be listed on BSE and NSE.
Angel Broking is a financial services provider. It is the fourth largest broker company in terms of active clients on the National Stock Exchange. The recent IPO of Happiest Minds received tremendous support from investors. This is the reason that there is a lot of excitement in the IPO market at this time.