Angel One Ltd raises Rs. 15,000 Million through QIP to Fund Company's Growth

Issue Details:

- Size of QIP: Rs. 15,000 Million
- Floor Price: Rs. 2,555.01 per equity share, with a face value of Rs. 10 each
- Total Paid-up Equity Shares Post Allotment: 89,879,006

The issue size, pegged at Rs 15,000 Million, received an overwhelming response from both domestic and foreign institutional investors.

This fund raise through Qualified Institutional Placement (QIP), strategically positions the Company for its growth trajectory, by way of:

Funding the working capital requirements for:

- Funding the margin obligations that are fulfilled on behalf of our clients and the margin trading facility provided to our clients; and future growth requirements.

- General corporate purpose

Commenting on the fund raise, Mr. Dinesh Thakkar, Chairman and Managing Director said: "The successful completion of this QIP marks a significant milestone in our journey, as we capitalise the business for its future growth trajectory, thus strengthening our position in the industry. The capital market landscape has undergone significant changes in recent years, with a robust outlook and deepening penetration, driven by digitisation. We are witnessing continuous engagement of Indian retail investors, as evidenced in our performance metrics. Key indicators such as gross client acquisition, number of orders, average daily turnover, turnover market share and financial performance are consistently creating newer benchmarks. I am grateful to all our investors and stakeholders, for the trust they have placed in our vision. As we embark on this growth journey, I am confident that we are well positioned to continue to seize opportunities and drive success for our company."

Shares of Angel One Limited was last trading in BSE at Rs. 2977.75 as compared to the previous close of Rs. 3020.35. The total number of shares traded during the day was 56345 in over 6436 trades.

The stock hit an intraday high of Rs. 3003.90 and intraday low of 2932.00. The net turnover during the day was Rs. 166713522.00.

Source : Equity Bulls

Keywords

AngelOne INE732I01013 FundRaising QIP