Earlier in September, Happiest Minds Technologies' Rs 702-crore IPO had seen 8th highest subscription of 150.98 times in a decade
The much-awaited IPO will open for subscription on September 29 and close on October 1 at a price band of Rs 552-554 per share.
Weak market, premium valuations and the emergence of discount broking model may have spoiled the party for Angel Broking
Financial products have seen considerable traction aided by prudent measures and deeper focus. This trend is expected to continue, says Angel Broking's Chairman & Managing Director Dinesh Thakkar.
Equity shares will list on the BSE SME platform.
The total offer will constitute 15.17 percent of post-issue paid-up equity.
The offer is set to open for subscription on September 29 and will close on October 1, 2020. The bidding for the anchor book will open and close on September 28.
The Rs 600-crore IPO has received bids for 2.2 crore equity shares against an offer size of 1.37 crore equity shares, the data available on exchanges showed.
Ajcon Global believes the issue is priced at a premium owing to its robust business model and major presence in Mutual Funds RTA space which has a big opportunity.
The grey market premium of Chemcon has been stable at around Rs 250-280 range since the launch of public issue.
The response from retail investors has been strong to every IPO this year.
This would be eleventh initial public offering this calendar year and the first government firm to launch IPO in 2020.
The issue will close on October 1 and the price band is yet to be decided by the company.
ICICI Direct believes the company enjoys higher realisations in its pharma chemical business as compared to oil field chemicals.
Given the differentiated business model, strong growth opportunities and strong RoE/FCF profile, IDBI Capital is positive on CAMS’s future growth prospects.
SPA Securities advised subscribing to the issue for long-term gains.
All brokerages recommended subscribing to the public offer citing incremental growth in market share in terms of active clients, consistent addition in customer base, increased retail participation in capital markets after pandemic.
Angel Broking finalised allocation of 58,82,352 equity shares to 12 anchor investors, at Rs 306 per share, or at the upper end of its price band of Rs 305-306 per share
Angel Broking IPO that opens on September 22 and ends on September 24 will be the eighth public issue to hit the market this year.
The company plans to raise Rs 61.2 crore via its maiden public issue which will close for subscription on October 1.
For FY20, revenue contribution from pharmaceutical chemicals and oil well completion chemicals was 63.8 percent and 33.5 percent, respectively.
CAMS has no direct listed peers (except CDSL who performs one of the function similar to CAMS), hence company will get first mover advantage, said Manali Bhatia.
Route Mobile enjoys leadership position in the Cloud communication service.
Brokerages advise subscribing to the issue citing company's consistent financial performance, leading position in pharma chemicals globally, healthy balance sheet and improving outlook for the sector
CAMS is the dominant player in a two-player MF RTA industry, with 70 percent market share.