Angel Broking
IPO Size
`600 Cr
Price Band
`305-306 Per Share
Minimum Lot Size
49 Share
Face Value
`10 Per Share
Employee Discount
NA
Retail Allocation
35%
Issue Open Date
22 Sep 20
Issue Close Date
24 Sep 20
Listing Date
IPO Size
Price Band
Minimum Lot Size
Face Value
Employee Discount
Retail Allocation
Issue Open Date
Issue Close Date
Listing Date
India’s one of oldest brokerage house covering customers reach of 96.87% or 18,649 pin codes in India and managing Rs. 132,540 million in client assets as of June 30, 2020. Since its inception in 1996, Angel Broking is a member of the Bombay Stock Exchange (BSE), National Stock Exchange (NSE), Metropolitan Stock Exchange of India (MSEI), NCDEX & MCX. Angel Broking Limited (formerly known as Angel Broking Private Limited) is also registered as a Depository Participant with CDSL. The company has enhanced its client engagement after the incorporation of technology to all their services right from the launch of their mobile application for broking services, KYC authentication, and complete client on-boarding through the electronic and digital medium in the year 2015 and 2016, respectively. The company has registered more than 4.39 million downloads of the Angel Broking mobile application.
| S.No. | 1 - Company | 2 - Directors | 3 - Promoters | |||
| Entity Name | By the Company | Against the Company | By the Director | Against the Director | By the Promoter | Against the Promoter |
| Criminal cases | - | 53.49 | - | 6.78 | - | 6.78 |
| Material civil cases | - | 129.66 | - | - | - | - |
| Taxation matters | - | 250.2 | - | - | - | - |
| Regulatory Procedings | - | 79.49 | - | - | - | - |
| Amt. (In Million Rs.) | - | 512.84 | - | - | - | 6.78 |
| Particulars (in cr.) | FY17 | FY18 | FY19 | FY20 |
| Revenue | 471.4 | 738.5 | 737 | 710.5 |
| Total Income | 488.6 | 753.7 | 762.6 | 742.8 |
| PAT | 37.9 | 101.1 | 76.7 | 86.6 |
| EPS | 26.4 | 14.04 | 10.65 | 12.03 |
| Book Value | 217.6 | 62.4 | 70 | 79 |
| EBITDA Margin (%) | 18.7 | 32.5 | 24.1 | 21.6 |
| ROE (%) | 12.1 | 22.5 | 15.2 | 15.2 |
| P/E (x) | 11.6 | 21.8 | 20.7 | 25.4 |
| P/BV (x) | 1.4 | 4.9 | 4.4 | 3.7 |
The promoters of the company are Dinesh D. Thakkar, Ashok D. Thakkar and Sunita A. Magnani
There is a flood of competitors in the field of broking industry in India and broking companies go through tough competition. The broking companies in India don’t have any control over pricing structure of the brokerages as they have to go deviate their pricing strategies and business model to compete with the peers. Moreover, the recent shift of investors and traders towards low brokerage firms has dampened their revenues. In the listed space, ICICI securities, Motilal Oswal, IIFL, Edelweiss, Geojit Financial Services and JM Financial have underperformed.
The object of the Offer for Sale is to allow the shareholders to sell an aggregate of up to 9,803,921 Equity Shares held by them. The company will not receive any proceeds from the Offer for Sale. Offer for Sale Size is of 9,803,921 Equity Shares of ₹10 aggregating up to ₹300.00 Cr.
The company has planned to raise fresh capital comprising an aggregate of 9,803,922 shares having ₹10 aggregating up to Rs. 300 Cr at the upper price band of Rs. 306. The net proceeds will be utilized for taking care of working capital requirements while rest will be utilized for other corporate purposes.