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Angel Broking IPO – Industry trend favourable, but valuation pricey

Investors’ interest in primary market offerings is at a high point, implying good appetite for the Angel Broking IPO

September 22, 2020 / 02:10 PM IST
Angel Broking IPO – Industry trend favourable, but valuation pricey

Angel Broking Ltd | The share price has surged 186 percent to 873.90 on July 1, 2021, from its issue price of Rs 306. It was listed on exchanges on October 5, 2020, with an issue size of Rs 600 crore.

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

The initial public offering (IPO) of Angel Broking of around Rs 600 crore opens for subscription today. Around half of the issue is an offer for sale from promoters, individuals and an institutional investor (International Finance Corporation), while the remaining Rs 300 crore  will be raised as fresh capital. The issuance of one of the largest retail brokers comes at a time when retail trading in financial markets has taken a quantum leap. The drastic fall in equity markets after...

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