ET Markets
12,180.3573.45
Stock Analysis, IPO, Mutual Funds, Bonds & More

Angel Broking receives Sebi nod for Rs 600 crore IPO

ICICI Securities, Edelweiss Financial Services and SBI Capital Markets are the book running lead managers to the issue.

PTI|
Jul 31, 2019, 08.43 PM IST
0Comments
Getty Images
IPO1-thinkstock-1200
New Delhi: Angel Broking has received markets regulator Sebi's nod for its initial public offer to raise about Rs 600 crore.

The regulator issued its "observation letter" on July 26, 2019, according to information available on the Sebi website.

Sebi's observations are necessary for any company to launch public issues like initial public offer (IPO), follow-on public offer and rights issue.

Angel Broking had filed its draft papers with the regulator on September 5, 2018.

The initial public offer comprises equity shares of face value of Rs 10 each of Angel Broking Ltd aggregating up to Rs 600 crore.

The IPO includes fresh issue of shares aggregating up to Rs 300 crore and an offer for sale of similar amount by promoter and other shareholders, according to the draft paper details.

The proceeds from the net issue will be utilised to meet 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.

The equity shares of the company will be listed on the BSE and NSE.

Angel Broking is an independent full-service retail broking house in India.

Also Read

Angel Broking initiates buy on Hawkins Cookers, target price Rs 4,353

Worst is over for larger NBFCs with sound business models: Vinay Agrawal, Angel Broking

Why Angel Broking's Mayuresh Joshi is betting on cement and paper stocks

Buy ICICI Bank, target Rs 490: Angel Broking

Comments
Add Your Comments
Commenting feature is disabled in your country/region.

Other useful Links


Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service