InvestorQ : How do you see the forthcoming Angel Broking IPO expected to hit the market soon?
Riya Dwivedi made post

How do you see the forthcoming Angel Broking IPO expected to hit the market soon?

Answer
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shrinidhi Rajan answered.
1 month ago


One of India’s largest retail brokers, Angel Broking, will soon launch its Rs.600 crore IPO in the forthcoming week. The IPO is expected to be priced in the band of Rs.305-306 per share. At the top end of the valuation range, this will give Angel a market cap of Rs.2503 crore.

The IPO will consist of Rs.300 crore by way of fresh issue and another Rs.300 crore by way of an offer for sale or OFS by the existing shareholders of Angel. The World Bank Arm, International Finance Corporation will be one of the sellers in the OFS.

Angel has timed its IPO to ride trends like ease of account opening, work-from-home and market spike due to liquidity. The depositories have seen nearly 50 lakh fresh demat accounts opened in the last few months. Angel has fund-based and fee-based income.