Angel Broking IPO subscribed nearly four times

Our Bureau Chennai | Updated on September 24, 2020 Published on September 24, 2020

The initial public offering of Angel Broking has been subscribed 3.95 times, with the company receiving bids for 5.42 crore shares, against 1.37 crore shares on offer. The offer, which opened for subscription on Tuesday, closed on Wednesday.

The qualified institutional buyers’ portion was subscribed 5.76 times, the non-institutional investors’ portion by 0.69 times and the retail investors’ portion by 4.32 times.

The price band for the ₹600-IPO is ₹305-306 a share. Ahead of the issue, Angel Broking had raised ₹180 crore from anchor investors by allotting 58.8 lakh shares at ₹306 apiece.

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Published on September 24, 2020
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