Angel Broking Ltd. will launch its three-day initial public offering on Sept. 22—India’s seventh since the Covid-19 outbreak and the fifth in September.
The listing also comes at a time when participation of retail investors in the equity markets in India and around the world has increased following the pandemic-induced lockdowns.
The full-service retail broking firm plans to raise Rs 600 crore by selling up to 1.96 crore shares at Rs 305-306 apiece, according to its red herring prospectus. The IPO comprises a fresh issue and an offer-for-sale by its promoters; International Finance Corp., which is a major investor; and other shareholders.
Key Details
- Issue opens on: Sept. 22.
- Issue closes on: Sept. 24.
- Face value: Rs 10 apiece.
- Price band: Rs 305-306.
- Fresh issue: 0.98 lakh shares (Rs 300 crore).
- Offer for sale: 0.98 lakh shares (Rs 300 crore).
- Listing on: National Stock Exchange and…