Stock Market Experts Suggest Investors; Keep Angel Broking Lists on Hold
Angel Broking is one of the leading retail broking houses in India with active clients on NSE from June 2020. The company is a technology-led which offers financial services like broking and advisory services, margin funding, loans against shares, financial product distribution to clients, etc.
However, the company disappointed investors by starting off with an issue price of Rs.306 as its market debut. The retail broking house stock touched Rs. 296.45 and a low of Rs 256.60 within a day after the opening at Rs 275. The company has also raised Rs 600 crore via public issue. Around Rs.300 crore from the same will be used for working capital requirements and general corporate purposes. The remaining part will be received by promoters and investors via stake sale.
Gaurav Garg, the head of research at CapitalVia Global Research suggests that investors should either exit on a listing day and keep a partial hold in investment for the next few years until a decent return is expected. The Head Researcher at Rudra Shares & Stock Brokers, Manali Bhatia, also shares the same opinion and suggests investing in other better options ICICI Securities and IIFL Securities which will offer higher return ratios.