Angel Broking files papers for ₹600 crore IPO
Angel Broking IPO comprises fresh issuance of shares worth ₹300 crore, besides an offer-for-sale of the same size by promoters and other existing shareholders
New Delhi: Angel Broking has filed draft papers with capital markets regulator Sebi to raise an estimated ₹600 crore through an initial public offering.
The IPO comprises fresh issuance of shares worth ₹300 crore, besides an offer-for-sale of the same size by promoters and other existing shareholders, according to the draft red herring prospectus (DRHP) filed with Sebi.
IFC will sell shares to the tune of ₹120 crore in the offer-for-sale.
Proceeds of the issue will be utilised for meeting working capital requirements and for general corporate purposes.
ICICI Securities, Edelweiss Financial Services and SBI Capital Markets will manage the company’s IPO.
The equity shares will be listed on BSE and NSE.
Angel Broking, a leading full-service retail broking house in the country, has presence across 1,800 cities and towns through a network of sub-brokers and over 110 branches.
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