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Angel Broking IPO – Schedule *(Tentative)*
23rd Sept – Announcement of Price Band
25th Sept – Anchor Investors Allotment
28th Sept – Offer Opens
30th Sept – Offer Closes
06th Oct – Finalisation of Basis of Allotment
07th Oct – Unblocking of ASBA Accounts
08th Oct – Credit of Equity Shares to Depository Accounts
09th Oct – Commencement of Trading
Angel Broking IPO – Issue Information *(Tentative)*
Issue Opens on: 28 September 2020
Issue Closes on: 30 September 2020
Issue Type: Book Built Issue IPO
Issue Size: 2,18,18,180 Shares
Face Value: Rs.10/- per Share
Issue Price: Rs.270 – Rs.275 per Share *(Tentative)*
Discount: NIL
Market Lot: 54 Shares
Listing At: NSE, BSE
Equity Shares outstanding prior to the Issue = 7,19,95,003 Shares
Fresh Issue of 1,09,09,090 Shares @275/- = Rs.300.00Crs
Offer for Sale of 1,09,09,090 Shares @275/- = Rs.300.00Crs
Equity Shares outstanding after the Issue = 8,29,04,093 Shares
Category-wise Break up:
Anchor – 65,45,454 Shares = 180.00Crs
QIB – 43,63,636 Shares = 120.00Crs
NII – 32,72,727 Shares = 90.00Crs
RII – 7,36,363 Shares = 210.00Crs (Lot size: 54 = 1,41,414 Forms)
Total Issue – 2,18,18,180 Shares = 600.00Crs.
Subscription required for 1X
RII = 1,41,414 Forms
NII = 90.00 Crs
Angel Broking IPO – Financial Information (Basis of Valuation) *(DRHP dtd: Sept’18)*
EPS for FY15-16 >>> Rs.04.42 (Page #106 of DRHP)
EPS for FY16-17 >>> Rs.04.32 (Page #106 of DRHP)
EPS for FY17-18 >>> Rs.15.03 (Page #106 of DRHP)
RoNW for FY15-16 >>> 08.59% (Page #107 of DRHP)
RoNW for FY16-17 >>> 07.96% (Page #107 of DRHP)
RoNW for FY17-18 >>> 22.72% (Page #107 of DRHP)
NAV as on June 30, 2018 was Rs.69.52 (Page #108 of DRHP)
Listed Industry Peer Group (Page #108 of DRHP): ICICI Securities, Geojit Financial Services, IIFL Holdings, Edelweiss Financial Services, Motilal Financial Services, JM Financial
Angel Broking IPO – *Market’s Current Estimates of oversubscription*:
RII = 15L Forms = 10.61X Applic. wise (Avg allotment of ~5.09 shares per lot)
NII = 15K Crs. = ~166.67X
Interest cost *@8.00%p.a.* for 7days = 42.19paise for 1X
Thus, for NII the costing = 166.67 X42.19paise = Rs.70.32 per share (= GMP)
And, for RII the costing = 5.09 X 70.32 = Rs.358/- (= Kostak)
Angel Broking IPO – *GMP Estimated*
GMP 100 +/- 2
Kostak 500 +/- 25