Angel Broking made a disappointing debut on Monday, itemizing at a reduction of 10 per cent at Rs 275 on the BSE Sensex and NSE Nifty, towards the difficulty worth of Rs 306. The shares went on to the touch an intra-day low of Rs 256.60 on the BSE and Rs 257 on the NSE, down as a lot as 17 per cent respectively. At 10:27 am, the shares of Angel Broking had recouped a few of their losses and had been buying and selling at Rs 290.60, down 5.03 per cent on the Sensex and Rs 290.80, down 4.9 per cent on the Nifty.
The Rs 600 crore crore IPO of Angel Broking had obtained a muted response from traders. The public provide of the broking agency was subscribed 3.94 instances; it had obtained bids for five.Four crore fairness shares vis-a-vis the provide measurement of 1.37 crore fairness shares, in keeping with information accessible with the inventory exchanges. The retail class was subscribed 4.31 instances, certified institutional consumers portion obtained bids value 5.74 instances and non-institutional traders class, 69 per cent.
Angel Broking IPO was open for bidding between September 22 and September 24. The public provide included contemporary situation of Rs 300 crore and a suggestion on the market of Rs 300 crore by the promoters.
ICICI Securities, Edelweiss Capital and SBI Capital Markets had been the lead managers for the general public providing, and Link Intime India was the registrar to the difficulty.
Angel Broking was Incorporated in 1996 and is among the many oldest inventory broking homes within the nation. It supplies broking, advisory and monetary providers to the traders. Dinesh D. Thakkar, Ashok D. Thakkar and Sunita A. Magnani are the The promoters of Angel Broking.