Angel Broking shares list at a discount as compared to issue price1 min read . Updated: 05 Oct 2020, 10:07 AM IST
- The initial public offer of Angel Broking was subscribed nearly 4 times.
Shares of Angel Broking today today listed at a discount as compared to the issue price in the IPO. Angel Broking shares got listed at ₹275 as compared to issue price of ₹306 apiece. In comparison, Indian stock market benchmark Sensex was up over 1%. Currently, shares of Angel Broking were trading at ₹285
The initial public offer of Angel Broking, which closed on September 24, was subscribed nearly 4 times. The ₹600-crore public offer received bids for 5,42,64,854 shares against 1,37,70,491 shares on offer, translating into 3.94 times subscription.
Category meant for qualified institutional buyers (QIBs) was subscribed 5.74 times, non institutional investors 69% and retail individual investors 4.31 times. The initial public offer was of a fresh issue of ₹300 crore and an offer for sale of ₹300 crore.
Angel Broking had earlier raised nearly ₹180 crore from anchor investors. Proceeds of the issue will be utilised for meeting working capital requirements and for general corporate purposes.
Edelweiss Capital, ICICI Securities and SBI Capital Markets were the managers to the offer. (With Agency Inputs)