Intraday Tips

Upcoming IPO

Stock                                                                                   Date                               Price range           Min. qty. 

NSDL                                                                                   To be announced
Indian Railway Finance Corporation (IRFC)                       To be announced
Barbeque Nation                                                                 To be announced
National Commodity & Derivatives Exchange (NCDEX)    To be announced
LIC                                                                                      To be announced
Bajaj Energy                                                                       To be announced
Burger King India                                                               To be announced

 

Closed IPO

Stock                                                                  Date                                      Price range          Min. qty. 

Equitas Small Finance Bank                                20 Oct 2020 – 22 Oct 2020    32 – 33                          450
UTI Asset Management Company                      29 Sep 2020 – 01 Oct 2020    552 – 554                      27
 

**********************************************************************************************************************************************************************************************

Angel Broking IPO - Full Analysis

 

Company Details

Angel Broking is one of the largest independent full-service retail broking houses in India, in terms of active clients on NSE as of 30 June 2020. It is a technology led financial services company offering broking and advisory services, margin funding, loans against shares (through AFPL) and financial products distribution. Its broking services are offered through (i) online and digital platforms, and (ii) network of more than 11,000 Authorised Persons, as of 30 June 2020. The company has more than 4.39 million downloads of its Angel Broking mobile app and nearly 1 million downloads of Angel BEE app as of 30 June 2020. Through digital marketing, the company has been able to cover approximately 96.87% or 18,649 pin codes in India and manages INR132,540 million (INR13,254 crore) in client assets and over 2.15 million operational broking accounts as of 30 June 2020.

 

Angel Broking Ltd offers some of the key products and financial services to the clients:

1. Broking and Advisory

2. Margin Trading Facility

3. Investor Education

4. Loans against shares

5. Research Services

 

 

Promoters of Angel Broking – Dinesh D Thakkar, Ashok D Thakkar, Sunita A Magnani

 

 

Angel Broking IPO details

Subscription Dates

22 – 24 September 2020

Price Band

INR305 – 306 per share

Fresh issue

INR300 crore

Offer For Sale

INR300 crore

Total IPO size

INR600 crore

Minimum bid (lot size)

49 shares

Face Value

INR10 per share

Retail Allocation

35%

Listing On

NSE, BSE

 

 

 

Angel Broking’s financial performance (in INR crore)

 

FY2018

FY2019

FY2020

Q1 FY2021

Revenue

780.0

784.1

754.7

246.6

Expenses

620.0

655.9

635.9

182.0

Net income

107.3

79.6

81.4

46.9

Net margin (%)

13.8

10.2

10.8

19.0

 

 All Dates

IPO Opening Date: 22 September 2020

IPO Closing Date: 24 September 2020

Finalisation of Basis of Allotment: 29 September 2020

Initiation of refunds: 30 September 2020

Transfer of shares to demat accounts: 1 October 2020

Listing Date: 5 October 2020

 

 

Angel Broking IPO Grey Market Premium

The Angel Broking Limited IPO Grey Market Premium price is 100-120,

 the Kostak rate is 300 and the Subject to Sauda is NA.

 

 

 

Angel Broking Growth in Technology

The primary focus is to profitably grow the retail broking, margin funding and distribution businesses through the online and digital platforms, “Angel Broking App”, “trade.angelbroking.com”, “Angel SpeedPro”, “Angel BEE”, which are powered by “ARQ”, a rule-based investment engine. They believe that they are positioned to benefit from the development of the Indian financial market, increased emphasis on digitalisation, and growth in the returns from such financial investments.

 

Angel Broking has received several awards and accolades for the services and products, including ‘Best performing retail member – Pan India 2016-17’ Award at Market Achievers Awards organised by NSE, one of the ‘Top Volume Performers in Equity Retail Segment 2016-17’ by BSE, the ‘Fulcrums of Commodity Derivatives Market’ Award by MCX in 2018 and the ‘Best Technology House of the Year’ in 2016 at the ASSOCHAM Excellence Awards. They provide a wide range of financial services to the clients including and in relation to:

 

 

Competitive Strengths of Angel Broking Limited:

  • One of the largest retail broking houses with strong brand equity
  • Client acquisition through diversified digital platforms
  • Integrated, end to end, and advanced digital experience ensuring client satisfaction
  • Diversified product offering across segments at competitive price
  • Robust business metrics building operating leverage
  • Experienced management team with proven execution capabilities

Angel Broking Limited IPO – Basis of the Offer Price

The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.

Qualitative factors are:

  • One of the largest retail broking houses with strong brand equity
  • Ensuring client satisfaction through the implementation of advanced technology and digitalisation
  • Strong client base through their online and digital platform and sub-broker network
  • Significant market share in the cash and commodity segment
  • Track record of continuous growth and strong financial performance
  • Proven and experienced management team and execution strength

The relevant quantitative factors are:

 

Basic & Diluted EPS

RONW (%)

NAV (Rs.)

31-Mar-18

14.91

22.61

Mar-19

11.09

15.02

31-Mar-20

11.44

13.92

82.15.

Industry P/E Ratio:

Particulars

P/E ratio

Highest

54.7

Lowest

5.4

Average

24.1

Angel Broking Competitive Peers

Particulars

Face Value  (in Rs.)

EPS (In Rs.)

NAV (In Rs.)

P/E Ratio

RONW

Angel Broking

10

11.44

82.15

NA

13.92

PEERS

 

 

 

 

 

ICICI Securities

5

16.8

37.5

28.4

44.32

Geojit Financial

1

2.0

23.8

19.4

8.91

IIFL Holdings

2

7.3

27.5

5.7

26.39

Motilal Financial

1

12.2

210.9

56.0

4.15

JM Financial

1

6.5

96.7

12.6

9.69

 

Angel Broking Limited IPO Lead Managers

BOOK RUNNING LEAD MANAGERS

ICICI Securities Limited

Edelweiss Financial Services Limited

SBI Capital Markets Limited

Angel Broking Limited IPO Registrar to offer

Registrar to the Offer

Link Intime India Private Limited

C-101, 1st floor, 247 Park, Lal Bahadur Shastri Maarg

Vikhroli (West), Mumbai 400 083

Tel: +91 22 4918 6200, Fax: +91 22 4918 6195

E-mail: angel.ipo@linkintime.co.in

Investor Grievance E-mail: angel.ipo@linkintime.co.in

Website: www.linkintime.co.in

Contact Person: Shanti Gopalkrishnan

SEBI Registration No.: INR000004058

 

Angel Broking Limited IPO Review by Top 10 Stock Brokers

Top Stock Brokers Review

Company Reputation

Competitive Edge

Financial Statement

Popularity Index

Promoters Reputation

Angel Broking

7.5/10

7.4/10

8.5/10

8.1/10

7.1/10

Sharekhan

7.2/10

7.1/10

8.6/10

8.1/10

7.2/10

Kotak Securities

7.3/10

7.5/10

8.4/10

8.1/10

7.3/10

ICICI Direct

7.3/10

7.3/10

8.7/10

8.1/10

7.1/10

IIFL

7.5/10

7.2/10

8.8/10

8.0/10

7.1/10

Edelweiss

7.5/10

7.4/10

8.4/10

8.3/10

7.2/10

Zerodha

7.4/10

7.1/10

8.5/10

8.1/10

7.0/10

5Paisa

7.1/10

7.1/10

8.4/10

8.1/10

7.1/10

Karvy

7.4/10

7.3/10

8.2/10

8.1/10

7.1/10

Motilal Oswal

7.1/10

7.1/10

8.6/10

8.3/10

7.2/10

 

 Analysis

The most important point to remember is how Angel Broking ha grown in numbers, during the Covid 19 pandemic - during the Covid lockdown period, angel Broking has opened around one lakh Demat accounts every month and live trading has increased in leaps and bounds. This shows that the trading population has faith and trust in the Angel brand and that’s what pushing the grey market premium of Angel Broking Shares. There are unconfirmed reports that the shares could see around 20% listing gain on the listing date itself. Angel Broking’s Digital outreach in recent times have ensured that they stay up-to-date with the latest in Trading Technology and provide the best trading solution.

 

 


Subscribe Now

To avail FREE COURSE

To avail FREE COURSE

To avail FREE COURSE

To avail FREE COURSE

To avail FREE COURSE

To avail FREE COURSE

Disclaimer: Investment in equity shares has its own risks. This material is for educational information and we are not responsible for any loss incurred based upon it & take no responsibility whatsoever for any financial profits or loss which may arise.