Angel Broking Limited Initial Public Offer To Open On 22nd September 2020

Angel Broking Limited (the “Company’), one of the largest retail broking houses in India in terms of active clients on NSE as of June 30, 2020 (Source: CRISIL Report), will open the initial public offer of equity shares of face value of Rs 10 each (“Equity Shares” and such initial public offer, the “Offer”) on 22nd September 2020. The Offer will close on 24th September 2020. The price band of the Offer has been fixed at Rs 305 to Rs 306 per Equity Share. 

The initial public offering consists of the Equity Shares of the Company aggregating up to Rs. 6,000.00 Million comprises of a Fresh Issue Company aggregating up to Rs. 3,000.00 Million (“Fresh Issue”) and an Offer for Sale aggregating up to Rs. 3,000.00 Million (the “Offer for Sale”), consisting of an offer for sale aggregating up to Rs. 183.35 Million by Ashok D. Thakkar and up to Rs. 45.00 Million by Sunita A. Magnani (together, the “Promoter Selling Shareholder”), and up to Rs. 1,200.02 Million by IFC (the “Investor Selling Shareholder”) and up to Rs. 1,571.63 Million by the Individual Selling Shareholder (together with the Promoter Selling Shareholder and the Investor Selling Shareholder, the “Selling Shareholders”) (the Offer for Sale together with the Fresh issue, the “Offer”). 

Bids can be made for a minimum of 49 Equity Shares and in multiples of 49 Equity Shares thereafter. 

The Equity Shares offered in this Offer are proposed to be listed at both BSE Limited and the National Stock Exchange of India Limited (“NSE”) post the listing. For the purpose of the offer, NSE is the designated stock exchange.

ICICI Securities Limited, Edelweiss Financial Services Limited and SBI Capital Markets Limited are the book running lead managers to the Offer (“BRLMs”). 

In terms of Rule 19(2)(b)(ii) of the Securities Contracts (Regulation) Rules, 1957, as amended (“SCRR”), the Equity Shares issued in the Offer shall aggregate to at least such percentage of the post- Offer Equity Share capital of the Company (calculated at the Offer Price) that will be at least ₹ 4,000 million. The Offer is being made in accordance with Regulation 26(1) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, through the Book Building Process wherein not more than 50.00% of the Offer shall be allocated on a proportionate basis to Qualified Institutional Buyers (“QIBs”), provided that the Company, in consultation with the BRLMs may, allocate up to 60.00% of the QIB Portion to Anchor Investors on a discretionary basis, out of which one-third shall be reserved for domestic Mutual Funds only, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price. Further, 5.00% of the Net QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price. Further, not less than 15.00% of the Offer shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35.00% of the Offer shall be available for allocation to Retail Individual Bidders in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, subject to valid Bids being received at or above the Offer Price. All Bidders, other than Anchor Investors, are required to mandatorily utilise the Application Supported by Blocked Amount (“ASBA”) process providing details of their respective bank account (including UPI ID for RIBs using UPI) which will be blocked by the Self Certified Syndicate Banks

(“SCSBs”) or under the UPI Mechanism, as the case may be, to participate in the Offer. Anchor Investors are not permitted to participate in the Anchor Investor Portion through the ASBA process.