Angel Broking to launch Rs 600-cr initial public offering next week

Angel Broking will be looking to ride the boom in broking industry seen this financial year

Angel Broking will launch its Rs 600-crore initial public offering (IPO) next week. The country’s fifth-largest broker in terms of the number of active clients has set the price band for the issue at Rs 305-306 per share.

At the top-end, Angel Broking will have a market cap (m-cap) of Rs 2,503 crore. The IPO comprises of Rs 300-crore fresh fund raise and another Rs 300-crore secondary share sale by existing shareholders, including International Finance Corporation (IFC), a World Bank arm.

Angel Broking will look to ride the boom in the broking industry seen this financial year. Ease of account opening, the