Angel Broking IPO to open on September 22; Price band fixed at Rs305- 306 per equity share

Bids can be made for a minimum of 49 Equity Shares and in multiples of 49 Equity Shares thereafter.

Sep 18, 2020 03:09 IST India Infoline News Service

Initial Public Offer, IPO
Angel Broking Limited will open the initial public offer of equity shares of the face value of Rs10 each (“Equity Shares” and such initial public offer, the “Offer”) on September 22, 2020, and it will close on September 2020.

The price band of the Offer has been fixed at Rs305 to Rs306 per Equity Share. Bids can be made for a minimum of 49 Equity Shares and in multiples of 49 Equity Shares thereafter.

The Equity Shares offered in this Offer are proposed to be listed at both BSE Limited and the National Stock Exchange of India Limited (“NSE”) post the listing. For the purpose of the offer, NSE is the designated stock exchange.

ICICI Securities Limited, Edelweiss Financial Services Limited and SBI Capital Markets Limited are the book running lead managers to the Offer (“BRLMs”).

The initial public offering consists of the Equity Shares of the Company aggregating up to Rs6,000 Million comprises of a Fresh Issue Company aggregating up to Rs3,000 Million (“Fresh Issue”) and an Offer for Sale aggregating up to Rs3,000 Million (the “Offer for Sale”), consisting of an offer for sale aggregating up to Rs. 183.35 Million by Ashok D. Thakkar and up to Rs45 Million by Sunita A. Magnani (together, the “Promoter Selling Shareholder”), and up to Rs1,200.02 Million by IFC (the “Investor Selling Shareholder”) and up to Rs1,571.63 Million by the Individual Selling Shareholder (together with the Promoter Selling Shareholder and the Investor Selling Shareholder, the “Selling Shareholders”) (the Offer for Sale together with the Fresh Issue, the “Offer”).

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