Angel Broking receives SEBI nod for Rs 600 cr IPO; proceeds from net issue will be utilised to meet working capital needs
5 years, 5 months ago

Angel Broking receives SEBI nod for Rs 600 cr IPO; proceeds from net issue will be utilised to meet working capital needs

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Angel Broking had filed its draft papers with the regulator on 5 September 2018. New Delhi: Angel Broking has received markets regulator SEBI’s nod for its initial public offer to raise about Rs 600 crore. SEBI’s observations are necessary for any company to launch public issues like initial public offer, follow-on public offer and rights issue. The initial public offer comprises equity shares of face value of Rs 10 each of Angel Broking Ltd aggregating up to Rs 600 crore. The IPO includes fresh issue of shares aggregating up to Rs 300 crore and an offer for sale of similar amount by promoter and other shareholders, according to the draft paper details.

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