NEW DELHI: Leading retail broking house Angel Broking Ltd’s initial public offering (IPO) is now open for subscription. The public offer — started on Tuesday — will remain open till September 24.
The broking house had raised nearly Rs 180 crore from anchor investors ahead of its IPO.
Here are the key points:
* Angel Broking allocated more than 58.8 lakh shares to the anchor investors at a price of Rs 306 apiece, according to a regulatory filing.
* The price band for the Rs 600-crore public offer is Rs 305-306 per share.
* The broking house has mopped up Rs 179.99 crore from 26 anchor investors, as per the filing.
* The offer comprises fresh issuance of shares worth Rs 300 crore and offer for sale of Rs 300 crore by promoters and other shareholders.
* International Finance Corporation will sell shares to the tune of Rs 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 are the book-running lead managers to the issue.
(With agency inputs)

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