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Anand Rathi has come out with its report on Angel Broking. The research firm has recommended to ''Subscribe'' the ipo in its research report as on September 19, 2020
Anand Rathi's IPO report on Angel Broking
Angel Broking Ltd. is one of the largest retail broking houses in India in terms of active clients, providing broking and advisory services, research services, margin funding, loans against shares and financial products distribution through online digital platforms and network of over 11,000 authorized Persons. The Company is a member of BSE, NSE, MSEI, MCX and NCDEX. The company manages ₹ 132,540 million in client assets, over the last one year, the company has more than doubled its overall turnover market share in the retail broking space in India. The company has been focusing on acquiring clients digitally, in Q1FY21 85.21% of clients were acquired digitally through performance marketing, referrals and digital influencers. The remaining 14.79% through the network of authorized persons.
Valuation and Outlook
We believe Angel Broking Ltd. IPO & OFS is fairly priced at current price band considering its financial performance and growth prospects. We recommend Subscribe for the IPO.
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