Angel Broking’s Rs 600-crore IPO to open on September 22; price band set at Rs 305-306/share

Angel Broking’s Rs 600-crore IPO to open on September 22; price band set at Rs 305-306/share
Angel Broking, a number one full-service retail broking house within the country, has presence across 1,800 cities and towns through a network of sub-brokers and over 110 branches.

Angel Broking on Friday said it’ll launch its initial public offering (IPO) on September 22 to boost an estimated Rs 600 crore.

The company has fixed a price band of Rs 305-306 per share for its IPO, Angel Broking said during a virtual news conference .

The initial share-sale are going to be open for public subscription on September 22 and shut on September 24, while the bidding for anchor investors will open on September 21.

Angel Broking is getting to raise Rs 600 crore through the IPO, which comprises fresh issuance of shares worth Rs 300 crore and offer purchasable of Rs 300 crore by promoters and other shareholders.

International Finance Corporation will sell shares to the tune of Rs 120 crore within the offer purchasable .

Proceeds of the difficulty are going to be utilised for meeting capital requirements and for general corporate purposes.

Angel Broking, a number one full-service retail broking house within the country, has presence across 1,800 cities and towns through a network of sub-brokers and over 110 branches.

ICICI Securities, Edelweiss Financial Services and SBI Capital Markets are the book-running lead managers to the difficulty . The equity shares are proposed to be listed on both NSE and BSE.

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