IPO Details
Below are key details about the IPO of the Company
- IPO Start Date – 22nd Sep 2020
- IPO End Date – 24th Sep 2020
- IPO Price – INR 305 – 306
- IPO Lot Size – 49
- Minimum investment required – INR 14,994
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Business Details
Angel Broking is in business of Broking. It is one of the largest retail broking houses based on number of active clients. Below are some of the cool stats shared by the Company on its website
- It has Pan India presence with Customers from all over the Country
- It has 2.15 million operational broking accounts
- Based on active clients it has market share of approx 6%
- Offers Equity market as well as debt market
- Offers Loan against Shares
- Offers stock advisory services
- It has mobile application as well as Desktop application for ease of operation
Financial Snapshot
Below are key financials of the Company for year ending 2020
- Total Income – 7427.79
- Profit for year – 866.24
IPO Subscription Status
Below is IPO Subscription status of the Company. I will be updating this section with time.
- QIB – 4.82 times
- NII – 0.56 times
- RII – 4.14 times
- Total Subscription is 03.56 times
Below is meaning of the Key terms used above
- QIB is (Institutes or Mutual Funds like HDFC AMC etc)
- NII is (People bidding for more than 2 lakhs in IPO application)
- RII is (People bidding for less than 2 lakhs)
- Employee and Others are Reserved Quota Investors.
My Opinion
During Corona pandemic time the number of new accounts opened reached record high showing interest among General public to trade in Equity.
This new account opening trend may fuel the IPO subscription of this Company as hopes will be high. I personally am not fan of Broking Industry due to Competition involved in it.
But since this is IPO analysis it will be interesting to see if it can attract the subscribers based on recent frenzy in account opening else it may get luke warm response.