Angel Broking Limited which had tapped the capital markets with its fresh issue for Rs 300 cr and an offer for sale of Rs 300 crs was subscribed 3.94 times. Earlier the company had completed allocation to anchor investors. The company had allotted 58,82,252 equity shares to 12 anchor investors comprising of 29 entities. The highest allocation was made to ICICI Prudential who was allotted 11,43,758 equity shares or 19.45% of the anchor portion. The next highest allocation was made to Nippon India of 14.22%. Thereafter the allocation of 11.11% or 6,53,562 shares was made equally to HDFC, Goldman Sachs and Aditya Birla Sun Life. In short, 5 anchor investors comprising of 9 entities were allotted 67.22% of the total anchor book.

The price band was Rs 305-306. The issue had opened on Tuesday the 22nd of September and closed on Thursday the 24th of September.

The QIB portion was subscribed 5.74 times. HNI portion remained undersubscribed at 0.69 times. Retail portion was subscribed 4.31 times. The overall issue was subscribed 3.94 times. There were 4.53 lac applications. On the basis of number of lots the issue was subscribed 3.2 times.

One feature of the anchor book was the fact that FII’s who have been big investors in India since the beginning of the year chose to give the issue a complete miss. Now in subscription, one notices that HNI’s chose to give the issue a miss. Clearly various stakeholders found discomfort from the steep valuations that the company demanded. It would be interesting to see how the share fares on listing.

Full details of the subscription are given below: –