Angel Broking’s stock is trading today at a discount compared to the issue price on the IPO. Angel Broking’s shares were traded at ₹275 compared to the issue price of ₹306 each. By comparison, the Indian stock market benchmark Sensex rose more than 1%. Angel Broking’s shares are currently trading at ₹285
Angel Broking’s initial public offering, which closed on September 24, was subscribed almost 4 times. the ₹Public offering of Rs 600 crore received offers for 5.42.64.854 shares against 1.37.70.491 shares on offer, resulting in a 3.94 times subscription.
The category for Qualified Institutional Buyers (QIB) subscribed 5.74 times, non-institutional investors 69% and individual retail investors 4.31 times. The initial public offering was for a new number of ₹300 crore and an offer to sell ₹300 crore.
Angel Broking had previously raised almost ₹Rs 180 crore from anchor investors. Proceeds from the issue will be used to meet working capital requirements and for general corporate purposes.
Edelweiss Capital, ICICI Securities and SBI Capital Markets were the managers of the offering. (With contributions from the agency)
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