Angel Broking IPO Review

IPO Status: Closed [22nd Sep 2020 to 24th Sep 2020]

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About Angel Broking IPO

Angel Broking IPO opens from 22nd to 24th Sep 2020. The price band for the ipo is ₹305 to 306 and lot size is 49 shares and multiple of it. Letís get the complete review of Angel Broking IPO, business overview, IPO dates, Angel Broking IPO allotment, subscription, company financials, GMP and other information.

Angel Broking floor price is 30.5 times and cap price is 30.6 times of the face value.

Company Incorporated Year: 1996

Sector: Financial Service Industry

Issue Size: Rs. 600 Cr.


About Angel Broking

Angel Broking is India’s 4th largest full-service broker in terms of the number of active clients on NSE. With having over 2 decades of experience in the industry, the broker offers a number of financial services such as broking and advisory, investment advisory, loan against shares, margin trading facility, and distribution of third party financial products such as mutual funds, health, and life insurance, etc. As of Jan 2020, Angel Broking became the country’s fourth-largest retail stock broking house with a market share of around 6.3% and an active client base of around 2.15 million.

The broker offers services through both the online and offline route wherein online services are offered through its digital platforms like, Angel Broking mobile app, Angel Speed Pro, and Angel BEE app powered by ARQ whereas it serves clients offline through a team of 11,000+ sub-brokers, 110 branches, and PAN India presence across 1800 cities. The company acquires 85.21% of its clientele base through its various digital platforms.

In Q1 FY2021, its average daily turnover has been increased from Rs. 253,176 million to Rs. 618,945 million. For the best quality broking services offered to customers, Angel Broking won many accolades such as Best performing Retail Member, Market Achievers Award, Top Volume Performers in Equity Retail Segment, and Fulcrums of Commodity Derivatives Market.

Angel Broking IPO Objective

The net proceed from Angel Broking IPO will be used for the below purposes;

  • To meet general working capital requirements of the business.
  • To collect funds for general corporate purposes.

Angel Broking IPO Issue break-up

Issue break-up
Category # of Shares Upper end ₹ in Cr %
Anchor 58,82,353 180.00 Cr 30%
QIB 39,21,569 120.00 Cr 20%
NIB 29,41,176 90.00 Cr 15%
Retail 68,62,744 210 Cr 35%
Total 1,96,07,842 600.00 Cr 100%

Angel Broking IPO Details

Angel Broking IPO details includes issue size, issue price, discount information, minimum and maximum order quantity, promoters holding details, NSE and BSE code.

Angel Broking IPO Details
Angel Broking Issue Details Values
IPO Category Mainline
IPO Issue Type Book Built Issue IPO
IPO Issue Size ₹600 Cr
Offer for Sale ₹300 Cr
Fresh Issue ₹300 Cr
Face Value ₹10 Per Equity Share
IPO Issue Price ₹305-306
IPO Discount NA
Market Lot 49 Shares
Min Retail Qty 49 shares (1 lot)
Max Retail Qty 637 shares (13 lots)
Promoter Holding Pre IPO 65.42%
Promoter Holding Post IPO
IPO Listing At BSE, NSE
BSE Code
NSE Code

Angel Broking IPO Live Subscription (NSE + BSE)

The table below is live update of IPO bidding details from NSE and BSE.

  • Qualified Institutional Buyers: 3,934,425 Shares
  • Non-Institutional Investors: 2,950,820 Shares
  • Retail Individual Investor: 6,885,246 Shares
IPO Bidding Live Updates from BSE + NSE
 # of Shares Offered3,934,4252,950,8206,885,24613,770,491
122nd Sep 2020 17:020.00x0.16x1.46x0.76x
223rd Sep 2020 21:020.00x0.30x2.79x1.46x
324th Sep 2020 17:025.74x0.69x4.31x3.94x

Angel Broking Financials for past 3 Years

Past performance and financial results of Angel Broking.

Angel Broking financial
Angel Broking IPO Financials 30-June-2020 31-Mar-2020 31-Mar-2019 31-Mar-2018
Total Assets ₹2973.10 Cr ₹2159.20 Cr ₹2169.06 Cr ₹2282.87 Cr
Total Revenue ₹244.09 Cr ₹742.78 Cr ₹762.65 Cr ₹753.66 Cr
Net Profit/Loss ₹38.18 Cr ₹86.62 Cr ₹76.69 Cr ₹101.05 Cr

Angel Broking IPO Strengths

  • 4th largest broker in India with strong brand equity.
  • Large product portfolio and diversified client base.
  • Focus on highly advanced technologies such as Angel Broking App, Angel BEE app powered by ARQ, Angel Speed pro, etc.
  • Strong online and offline presence.
  • Large market share in the cash and commodity trading segment.
  • The experienced management team and long-term track record.

Angel Broking IPO Threats/Weaknesses

  • The economic environment may adversely affect business revenues and profitability.
  • Strict regulatory requirements and supervision.
  • As the business generates most of its revenues from the digital platforms, thus, any IT malfunction can negatively affect its operations.
  • Intense level of competition from top brokers such as Zerodha, Upstox, etc.

Angel Broking IPO Important Dates

In this section we have covered all important dates related to Angel Broking IPO. Dates are updated as they are announced. The most noted dates are IPO start date and IPO end date, which one should use to participate in IPO.

Angel Broking IPO important dates
IPO Activity Date
IPO Issue Open Date 22nd Sep 2020
IPO Issue Close Date 24th Sep 2020
Basis of Allotment Finalisation Date* 29th Sep 2020
Refunds Initiation* 30th Sep 2020
Credit of Shares to Demat Account* 1st Oct 2020
IPO Listing Date* 5th Oct 2020

* - Tentative Dates

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  NRI Form ⇒

Angel Broking IPO Draft Prospectus >>Document

Angel Broking IPO Red Herring Prospectus >>Document

Angel Broking IPO Allotment Status >>Link

Company Address

Angel Broking Limited
G-1, Ground Floor, Akruti Trade Centre
Road No. 7, MIDC, Andheri (East)
Mumbai - 400 093, India
Email: [email protected]
Phone: +91 22 4000 3600


Link Intime India Private Ltd
Link Intime India Private Ltd
C 101, 247 Park, L.B.S.Marg,
Vikhroli (West), Mumbai - 400083
Phone: +91 22 4918 6200
Email: [email protected]

Lead Manager

  1. ICICI Securities Limited
  2. Edelweiss Financial Services Limited
  3. SBI Capital Markets Limited
Angel Broking IPO Important dates - Issue Open Date, close Date, IPO Listing Date. IPO Details - Offer Size, Issue Size, Type of IPO, Issue Price, Market Lot, BSE Cd, NSE Cd, IPO Listing date. What is the issue open date and close date for Angel Broking? Should I apply in Angel Broking IPO?

Last Updated on 2020-10-02T00:54:58+00:00

Angel Broking IPO FAQs

  1. 1. How to subscribe Angel Broking IPO with Zerodha?

    Zerodha allows to apply online in IPOs via their back office software "console". UPI payment mode is to be used to apply online through Zerodha. To purchase Angel Broking IPO with Zerodha, you must be Zerodha customer and have UPI payment setup. For more details please visit detailed article Step by Step Guide to apply Angel Broking IPO with Zerodha.

    Alternate approch to apply in Angel Broking IPO is ASBA. You can use Zerodha DP information and apply online via ASBA with your prefered net banking user id.

    Angel Broking IPO Review and Important Updates

    Other relevant questions :

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  2. 2. How to apply in Angel Broking IPO online?

    Apply in Angel Broking IPO online

    To subscribe or apply in Angel Broking IPO, you can use the following methods:

    Angel Broking IPO Applying ModeMethodDetails
    Online Application3-in-1 Trading Account

    If your broker is 3-in-1 service provider, you can apply in Angel Broking IPO directly with your brokers website. Example HDFC Securities, ICICI Direct, AxisDirect are 3-in-1 brokers provide you direct IPO investment.

    Online Application2-in-1 Trading Account

    Brokers like Zerodha, TradeSmart Online provides access to applying in Angel Broking IPO with their in-house developed platform. You need to apply in IPO via UPI payment method. You must have access of your UPI mandate to apply in IPO online.

    Online ApplicationASBA

    This is one of the most popular mode of applying in Angel Broking IPO. Most of the Syndicate Banks provide access to apply in Angel Broking IPO via ASBA process. You must have your net banking access, DP ID information to apply in Angel Broking IPO via ASBA. Bank like Axis, SBI allows you to apply maximum 5 application from one bank account. However, ICICI, HDFC bank have limit of one IPO ASBA application per account.

    Offline ApplicationPhysical Form

    You can apply in Angel Broking IPO via physical form, but not with ASBA. Physical Forms need to be filled using UPI mode of payment and need to approve the mandate of UPI with your registered phone number with your UPI provider. You can use BHIM app or banks mobile app who support UPI process like SBI, HSBC, Axis, ICICI, HDFC, Yes Bank, Citi Bank mobile app.

    Angel Broking IPO Review and Important Updates

    Other relevant question on same topics are:

    Where to subscribe Angel Broking IPO? Where to apply for Angel Broking IPO? How to subscribe Angel Broking IPO online? Angel Broking IPO where to apply? Where to buy Angel Broking IPO online? How to buy Angel Broking IPO online? How to purchase Angel Broking IPO? How to get Angel Broking IPO? How to book Angel Broking IPO? How to invest Angel Broking IPO? Angel Broking IPO kaise buy kare?


  3. 3. How to download online application form for Angel Broking IPO?

    Applying in Angel Broking IPO is very easy and quick process via ASBA. You can use your net banking user id and password to apply in IPO. In case you want to submit physical application, you can download Angel Broking IPO application online and submit to the nearest bank or to your broker. With new mandate from SEBI, all physical application need to use UPI mode of payment. In such case you have to setup UPI and provide your UPI information in physical application. Once your bank receives your application they will use UPI ID to block your money. You will get UPI mandate and need to approve the same to submit your application.

    For more details on how to use UPI payment method to apply Angel Broking IPO, please refer article >> Link

    Angel Broking IPO Review and Important Updates

    Steps to download the online application form for Angel Broking IPO

    • Step1:Click here.
    • Step2: Click on “Bid-cum Application Form Download
    • Step3: Above Step will open an online form.
    • Step4: Enter your Name, PAN, DP Type, DP Information, UPI No, Bank information (Do not enter), Address, email, phone, Transaction Type - "ASBA".
    • Step5: Fill bid details - min 49 and max 637 shares (13 lots).
    • Step6: Now fill the character given in Box, read and agree on terms and conditions and click on the download button.
    • Step7: This will fill your application online and give you a pdf file.
    • Step8: Take a print of this document and go to your bank for UPI transactions.
    • Or

    • You can download “Blank Application Form Download” and fill all the required filed and submit to the nearest bank for UPI transaction.

    Other relevant questions:

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  4. 4. What is the listing date of Angel Broking IPO?

    Angel Broking IPO is going to be list on 05-10-2020.

    Other relevant questions:

    When Angel Broking IPO will be listing? Angel Broking IPO listing date?Angel Broking IPO date of listing


  5. 5. When Angel Broking IPO will be allocated?

    Angel Broking IPO Allotment Date is 29-09-2020.

    Other relevant questions:

    Angel Broking IPO share allotment date?Angel Broking IPO allotment date?


  6. 6. Why should you subscribe to the upcoming Angel Broking IPO?

    Angel Broking has been on the broking and stock market scene for over 2 decades now and enjoys a strong brand value. That’s not all; here are some more compelling reasons why you should consider subscribing to the Angel Broking IPO. Here are the reasons to subscribe to Angel Broking IPO;

    1. India’s fourth-largest retail broking house
    2. Exceptional brand equity
    3. Consistent growth over the past few years
    4. The diversified product portfolio that caters to a wide range of clients’ needs
    5. High potential for further growth


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User Comments

12. Tushar  9/22/2020 12:26:03 PM Reply
Very low expected listing gain on Angel Broking IPO
11. Ankur jain  9/22/2020 12:21:33 PM Reply
The market has been falling down, in that case, is there any possibility of poor listing gains
10. Nagarjuna  9/18/2020 6:12:18 PM Reply
I am a retail investor and can invest only in a one ipo among CAMS, chemcon, and Angel Broking. Which one is the best ipo for investment???????
10.1. Verma  9/18/2020 6:33:09 PM
Chemcon or CAMS IPO must be preferred over Angel Broking due to low grey market premium.
10.2. Jagdish  9/18/2020 6:34:57 PM
Agree, expecting listing of Angel Broking IPO 325 Ė 335
10.3. Vinay Jain  9/22/2020 12:01:12 AM
9. Naydu P  9/18/2020 5:51:22 PM Reply
Angel Broking GMP is very low.
8. Ram Kumar  9/17/2020 11:47:41 PM Reply
I need to apply in any of the 2 please suggest. As per GMP premium CAMS and CHEMCON are looking better.
Agel Broking GMP is very low. Please suggest.
8.1. CA Sachin Jain  9/18/2020 10:21:02 AM
Here is my priority-wise list of application in the forthcoming 3 IPOs(CAMS,Chemcon, and Angel Broking)

1st Choice
Chemcon Speciality Chemicals Limited IPO

2nd Choice
Computer Age Management Services Ltd IPO

3rd Choice
Angel Broking Ltd IPO

We have power-packed September month with 5 IPOs Angel, CAMS, chemcon, happiest minds, route mobile. All are excellent IPOs. But since many of them are smaller size, the allotment chance was less for retails. except for CAMs, which is somewhat bigger in size than others with rs 977 Cr quota for retails. You can apply a 1-1 lot in Chemcon and Angel Broking, CAMS can be applied with full force.
8.2. Rajan  9/18/2020 11:37:03 AM
Here is my view of 3 ipos opening in 4th week of Sep 2020
From Listing Gain Perspective, CHEMCON as GMP is 230 so u can get 44*230=10k
From the Allotment point of view, CAMS - GMP is 365, so u can get 12*365=4.5k per lot, and chances are you get more lots&
For Angel Broking Limited(ABL) - GMP Rs 50, so u can get 50*49=2.5k per lot.

So with the above calculation, I will apply in CHEMCON for sure with 1 lot and CAMs with minimum of 10 lots. I will ignore Angel at this moment. In case GMP improves for Angel, I will go for 1 or 2 lots depending on subscription data on the last day.
7. CK  8/28/2020 12:12:05 PM Reply
Expected opening date of Angel Broking IPO
7.1. Kanhaiya saw  8/28/2020 12:13:35 PM
Angel Broking IPO tentative opening date is 9th September.
7.2. Rahul  8/31/2020 8:06:10 PM
Looks like its postponed for one more week.
6. Nitin Doshi  8/27/2020 2:41:23 AM Reply
Angel Broking IPO whether to invest or not.
6.1. Vikas  8/28/2020 12:03:11 PM
The Angel Broking is one of the leading brokers in India in terms of active clients base on NSE and serving clients through various services such as brokerage, advisory, research, third-party products i.e mutual funds, insurance, etc. However, tough competition from Zerodha, Upstox, and others and strict regulatory compliance for the broker is the key points to consider before investing.
5. CA Sachin Jain  8/27/2020 8:39:10 PM Reply
Angel Broking IPO is expected to open on 9th Sep 2020. Size of IPO is Rs 600 Cr (Approx)
4. Sumit kr suman  8/27/2020 2:41:23 AM Reply
Please confirm Angel Broking IPO GMP (grey market premium) and kostak.
3. Hitendrasinh Rathod  8/27/2020 2:41:23 AM Reply
Angel Broking IPO good or bad.

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