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Wednesday, September 5, 2018

Angel Broking files DRHP for IPO




Angel Broking Limited, one of the largest independent full-service retail broking house in India in terms of active clients on NSE as of July 31, 2018 (Source: CRISIL Report) filed its DRHP with SEBI.



The Initial Public Offer (IPO) comprises of equity shares of face value of Rs. 10 each (“EquityShares”) of Angel Broking Limited (“Company”) aggregating up to Rs. 6,000.00 million. The IPO includes fresh issue aggregating up to Rs. 3,000.00 million (the “Fresh Issue”)and an offer for sale aggregating up to Rs. 208.35 million by Ashok D. Thakkar and equity shares aggregating up to Rs. 31.25 million by Sunita A. Magnani (together, the“Promoter Selling Shareholders”),equity shares aggregating up to Rs. 1,200.02 million by IFC (the“Investor Selling Shareholder”) and equity shares aggregating up to Rs. 1,560.38 million by the individual selling shareholders (together with the promoter selling shareholders and the investor selling shareholder, the “Selling Shareholders”) aggregating up to Rs. 3,000.00 million (the “Offer For Sale”)



The proceeds from the net issue will be utilized towards: (i). to meet working capital requirements (Rs. 2,300 million); and (ii) for general corporate purposes.



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



The equity shares will be listed on BSE and NSE.



About Angel Broking Limited

Angel Broking Limited (Angel) is one of the largest independent full-service retail broking house in India in terms of active clients on NSE as of July 31, 2018 (Source: CRISIL Report). Angel is a technology led financial services company, that provides broking and advisory services, margin funding, loans against shares (through one of our Subsidiaries, AFPL) and financialproducts distribution to clients under the brand “Angel Broking”. Angel’s broking services are offered through (i) online and digital platforms, and (ii) network of more than 11,000 sub-brokers, as of June 30, 2018. They have more than 850,000 downloads ofAngel Broking mobile app and more than 450,000 downloads of Angel BEE app as of June 30, 2018, which enables their clients to avail services digitally. Through network of sub-brokers and over 110 branches, Angel have a pan-India presence across 1,800 cities and towns, as of June 30, 2018. As at June 30, 2018, Company managed Rs. 113,023.06 million in client assets and over 1.11 million active broking accounts.
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