Angel Broking made a weak listing on the bourse at a listing of Rs. 275 per share as against its IPO price which has been fixed at Rs. 306 per share. The stock last traded down by over 9 percent at Rs. 277.5 per share.
The company from the brokerage space will see listing from the sector after a considerable time, which as per reports the last stock that listed i.e. ICICI Securities has been trading below its issue price.
For Angel Broking analyst expect a weak listing at a discount from its issue price on account of muted growth despite client addition and steep valuations and even a weak subscription. The expectations had been that the listing can be at a discount of up to 15%.