Angel Broking IPO Opens Sept 22; Issue Price Rs. 305-306/Share

Other than CAMS and Chemcon Specialty IPO, there is another IPO set for launch by a brokerage house Angel Broking. Price band for the IPO issue has been fixed at Rs. 305-306 per share.

The IPO shall comprise fresh issuance of Rs. 300 crore and OFS worth Rs. 300 crore. The offer for sale includes a Rs 20.83 crore and Rs 3.12 crore worth of equity share sale by promoters Ashok D Thakkar and Sunita A Magnani respectively, and Rs 120 crore and Rs 156.04 crore by investors IFC and individual selling shareholders respectively.

Angel Broking IPO Opens Sept 22; Issue Price Rs. 305-306/Share

Bids can be made for a minimum of 49 equity shares and in multiples of 49 shares thereafter.

Angel Broking is a technology-led financial services company that offers broking and advisory services, margin funding, loans against shares and financial products to clients.

There has been a continous surge in the company's clientele and for the quarter ended June 2020, there was seen an average monthly client addition of more than 1.15 lakh.

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