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The Rs 600 crore crore IPO of Angel Broking obtained a muted response from the investing neighborhood. The public supply of the broking agency was subscribed 3.94 instances, receiving bids for five.Four crore fairness shares as in opposition to a suggestion measurement of 1.37 crore fairness shares, information out there on the inventory exchanges confirmed. The retail class was subscribed 4.31 instances, certified institutional patrons portion, 5.74 instances and non-institutional buyers class, 69 per cent.
The IPO had opened on September 22 and closed at 5:00 pm in the present day i.e. September 24. The shares are prone to be listed on each the benchmark indices, BSE and NSE, on October 5.
The public supply included contemporary concern of Rs 300 crore and a suggestion on the market of Rs 300 crore on the a part of the promoters. The worth band of the share providing was Rs 305-Rs 306 per share.
Angel Broking will increase Rs 600 crore on the increased finish of the worth band. It plans to utilise proceeds from the contemporary concern to fulfill its working capital necessities and for different company functions.
ICICI Securities, Edelweiss Capital and SBI Capital Markets are the lead managers for the general public providing. Link Intime India is the registrar to the difficulty.
Incorporated in 1996, Angel Broking is among the many oldest inventory broking homes within the nation. Angel Broking supplies broking, advisory and monetary companies to buyers. The promoters of Angel Broking are Dinesh D. Thakkar, Ashok D. Thakkar and Sunita A. Magnani.
This has been an action-packed week for the first markets, with three IPOs viz. Computer Age Management Services IPO, Chemcon Speciality Chemicals IPO and Angel Broking IPO. The Computer Age Management Services IPO and Chemcon Speciality Chemicals IPO closed for bidding earlier, on Wednesday i.e. September 23; the Computer Age Management Services IPO was subscribed 47 instances and Chemcon Speciality Chemicals IPO was subscribed 149 instances.
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