Kuwait Investment picks up stake in Angel Broking

 

The Kuwait Investment Authority acquired a 0.52 per cent stake in the recently listed retail broking firm Angel Broking through a bulk deal on Thursday.

According to NSE bulk deal data, Kuwait Investment Authority bought 4.3 lakh equity shares at 321.73 a share.

A couple of days back, Angel Broking had reported a strong set of earnings for the quarter ended September, with highest ever quarterly consolidated profit of 74.47 crore. Profits rose 47.3 per cent sequentially and 288.3 per cent year-on-year.

Consolidated revenue from operations rose 30 per cent sequentially (up 80 per cent YoY) to 309.85 crore in Q2 FY21.

The initial public offering of Angel Broking was subscribed 3.95 times. The 600-crore IPO was priced at 306 a share. Ahead of the issue, Angel Broking had raised 180 crore from anchor investors.

 

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