Angel Broking IPO Review, Price, Details, Price Brand, Lot Size, Issue Date
Angel Broking is one of India’s largest full-service independent retail broking house, having the biggest repository of active clients on NSE.
Breif Introduction of Angel Broking IPO Review & Its Company Background
Table of Contents
It is a technology driven financial services company which provides excellent broking and advisory services, providing loans against shares (with firm assistance from the renowned AFPL), disbursing margin funding and distribution of other financial products for its clients.
The firms broking services are accessed through (i) the company’s online and other digital platforms, (ii) the firm’s humongous network of over 11,000 sub-brokers.
The firm’s Angel Broking Mobile app has over 850,000 downloads and exceeds 450,000 downloads of Angel BEE app, which helps the firm cater to its client’s need and efficiently use its services.
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The firm’s network of sub-brokers and pan India presence with over 110 branches spread across 1,800 districts and cities.
Angel broking has till date managed Rs 1,13,023.06 million from client assets, with the help of firms 11 lakh active broking accounts.
Angel Broking boasts of its experience of over two decades in the field of over two decades.
It is with the help of this experience that integrate its knowledge, skyrocketing the broking industry with the cutting- edge technology and innovation in various platforms.
Key strengths of the Angle Broking Firm
India’s largest retail broking house having strong brand equity.
The firm ensures client satisfaction by implementing measures of advanced technology and digitalisation of existing means.
Humongous client base that accesses the company’s platforms through online and other digital platforms.
The firm has considerable market share in the cash- commodity segments.
The company has recorded continuous growth and has shown significant financial performance year after year.
The company’s strength lies in its proven and experienced management team.
Promoters of the company- The company’s promoters are-
Dinesh D. Thakkar
Ashok D. Thakkar
Sunita A. Magnani
Objects of the Angel Broking Company
The company aims to meet the working capital requirements.
IPO Particulars of Angel Broking Limited IPO
| IPO opening date | Sep 22’ 20 |
| IPO closing date | Sep 24’ 20 |
| Type of issue | Book Built Issue IPO |
| Size of issue | 19607843 equivalent shares of Rs 10 (aggregating up to Rs 600 Crore) |
| Fresh Issue | (..) Equivalent Shares of Rs 10(aggregating up to Rs 300 Crore) |
| Offer for Sale | () Equivalent Shares of Rs 10 (aggregating up to Rs 300 Crore) |
| Face Value IPO per share | Rs. 10 |
| Price Band available Per equity share | Rs. 305-306 |
| Minimum Order Quantity required | 49 Shares |
| Listing of IPO at | BSE, NSE |
| RII Min Application Amount | Rs. 14994 (49 shares) |
| RII Max Application Amount | Rs. 194922 (637 shares) |
Shares offered to other QIB, NII,RII
| Shares to QIB | 9803922 Shares, Rs 300 Crores |
| Shares to NII | 2941176 Shares, Rs. 90 Crores |
| Shares to RII | 6862745 Shares, Rs.210 Crores (Lot size decided- 49 shares = 140056 Forms) |
| Total Issue available | 19607843 Shares Rs.600 Crores |
| Equity shares prior to the IPO | 71995003 shares |
| Equity Shares outstanding after the Issue | 81798925 Shares |
| Equity Shares outstanding after the Issue | 81798925 Shares |
| PO Opens On | Sep 22, 2020 |
| IPO Closes On | Sep 24, 2020 |
| Finalisation of IPO on the basis of Allotment | Sep 29, 2020 |
| Initiation of Refunds begins on | Sep 30, 2020 |
| Credit of shares to users Demat account | Oct 1, 2020 |
| IPO Shares Listing Date at stock exchange | Oct 5, 2020 |
Grey Market Price is going on as Rs 200-300, Lowbrokes.com expect a bumper listing on this IPO
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