THIS IS A PUBLIC ANNOUNCEMENT FOR INFORMATION PURPOSES ONLY THIS IS NOT A PROSPECTUS ANNOUNCEMENT AND DOES NOT CONSTITUTE AN INVITATION OR OFFER TO ACQURE, PURCHASE OR SUBSCRIBE FOR SECURITIES NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY OUTSIDE INDIA

wpe15C.jpg (2047 bytes) Angel Broking
ANGEL BROKING LIMITED

Our Company was originally incorporated on August 8,1996 as M.BNL. Securities Private Limited, a private limited company, under the Companies Act. 1956, with the RoC. Thereafter, our Company was converted from a private limited company to a deemed public company, pursuant to Section 43A of the Companies Act, 1956 and consequently, the term "private" was deleted by the RoC from the name of our Company with elect from March 15, 1997. Thereafter, our Company was converted from a deemed public company to a private limited company and consequently, the name of our Company was changed to BNL. Securities Private Limited and the term "private" was added by the RoC to the name of our Company with effect from June 17, 2003. Subsequently, the name of our Company was changed to Angel Infin Private Limited pursuant to a special resolution passed by our Shareholders on March 15, 2005 and a fresh Certificate of incorporation consequent to the change of name was issued by the RoC on March 31,2005, Further, the name of our Company was changed to Angel Global Capital Private Limited pursuant to a special resolution passed by our Shareholders on December 16, 2008 and a fresh certificate of incorporation consequent to the change of name was issued by the RoC on January 22, 2009. Thereafter, the name of our Company was chanced to Angel Broking Private Limited pursuant to an order of the High Court of Bombay dated March 2,2012 approving the scheme of amalgamation between Angel Broking Limited, an erstwhile wholly owned subsidiary of our Company and our Company (erstwhile Angel Global Capital Private Limited), and such change was approved pursuant to a special resolution passed by our Shareholder on May 2, 2012 and a fresh certificate of incorporation consequent to the change of name was issued by the RoC on May 16, 2012.Subsequently our Company was converted from a private limited company to a public limited company pursuant to a special resolution passed by the Shareholders of our Company on June 22, 2018 and the name of our Company was changed to Angel Broking Limited. A fresh certificate of incorporation consequent to the conversion of the Company to a public Limited company was Issued by the RoC on June 28,2018. For further details. please see the section entitled "History and Certain Corporate Matters" on page 194 of the Prospectus dated September 26, 2020 ("Prospectus")

Registered Office: G 1 Ground Floor, Akruti Trade Centre, Road No. 7, MlDC. Andheri (East) Mumbai 400093; Tel: +91 22 6807 0100 07; Fax: +91 22 6807 0107; Corporate Office: 6th Floor, Ackrurti Star Central Road, MIDC. Andheri (East), Mumbai 400 093; Tel: +91 22 4000 3600: Fax: +91 22 3935 7699;
Contact Person: Naheed Patel, Company Secretary and Compliance Officer; E mail: investors@angelbroking.comWebsite: www.ongelbroking.comCorporate Identity Number: U67120MH1996PLC101709.

PROMOTERS OF OUR COMPANY: DINESH D. THAKKAR, ASHOK D. THAKKAR AND SUNITA A. MAGNANI

Our Company has filed the Prospectus dated September 26,2020 with the Registrar of Companies, Maharashtra at Mumbai and the Equity Shares are proposed to be listed on the National Stock Exchange of India Limited ("NSE") and the BSE Limited ("BSE") and the trading will commence on or about October 05,2020.

BASIS OF ALLOTMENT

INITIAL PUBLIC OFFERING OF 19,607,835 EQUITY SHARES OF FACE VALUE OF Rs 10 EACH ("EQUITY SHARES") OF ANGEL BROKING LIMITED (THE "COMPANY") FOR CASH AT A PRICE OF Rs 306 PER EQUITY SHARE, (INCLUDING A SHARE PREMIUM OF Rs 296 PER EQUITY SHARE) (THE "OFFER PRICE"), AGGREGATING TO Rs 6.000 MILLION (THE "OFFER") COMPRISING OF A FRESH ISSUE OF 9,803,921 EQUITY SHARES BY THE COMPANY AGGREGATING TO Rs 3,000 MILLION (THE "FRESH ISSUE") AND AN OFFER FOR SALE OF 9,803.914 EQUITY SHARES AGGREGATING TO Rs 3,000 MILLION, COMPRISING OF 599,173 EQUITY SHARES AGGREGATING TO Rs 183.35 MILLION BY ASHOK D. THAKKAR AND OF 147,058 EQUITY SHARES AGGREGATING TO Rs 45.00 MILLION BY SUNITA A. MAGNANI (TOGETHER, THE "PROMOTER SELLING SHAREHOLDERS"). TO 3,921,636 EQUITY SHARES AGGREGATING TO Rs 1,200.02 MILLION BY INTERNATIONAL FINANCE CORPORATION (THE "INVESTOR SELLING SHAREHOLDER") AND 5,136,047 EQUITY SHARES AGGREGATING TO Rs 1,571.63 MILLION BY THE INDIVIDUAL SELLING SHAREHOLDERS. THE PROMOTER SELLING SHAREHOLDERS. INVESTOR SELLING SHAREHOLDER AND INDIVIDUAL SELLING SHAREHOLDERS ARE COLLECTIVELY REFERRED TO AS THE "SELLING SHAREHOLDERS". AND SUCH OFFER FOR SALE, THE ("OFFER FOR SALE").

OFFER PRICE: Rs 306 PER EQUITY SHARE OF FACE VALUE OF Rs 10 EACH
ANCHOR INVESTOR OFFER PRICE: Rs 306 PER EQUITY SHARE
THE OFFER PRICE IS 30.6 TIMES THE FACE VALUE OF THE EQUITY SHARES

Risks to Investors

• The three Book Running Lead Managers associated with the Offer have handled 20 public issues in the past three years out of which eight issues closed below the issue price on listing date.
• The Price/Earnings ratio based on diluted EPS for Fiscal 2020 for the Issuer at the upper end of the Price Band is as high as 25.44 on Standalone and 26.75 on Consolidated basis as compared to the average industry peer group PE ratio of 24.1.
• Average cost of acquisition of Equity Shares for the Selling Shareholders namely Ashok D. Thakkar, Sunita A. Magnani, International Finance Corporation, Amit Majumdar (jointly held with Dolly Majumdar), Ashok Popatlal Shah, Ashwin S. Thakkar, Bela Mukesh Gandhi (jointly held with Mukesh Gandhi), Bharat Chimanlal Shah (jointly With Hansa Bharat Shah), Chandresh Popatlal Shah, Nishith Jitendra Shah (jointly held with Jitendra Nimchand Shah), Deepak T. Thakkar, Lalit T. Thakkar, Mahesh D. Thakkar, Manjula Ramnik Gala, Mukesh Gandhi (jointly held with Bela Mukesh Gandhi), Muskaan Doultani and Nikhil H. Daxini is Rs 0.99, Rs 6.48, Rs 115.58, Rs 6.48, Rs 13.00, Rs 6.48, Rs 0.10, Rs 2.08, Rs 12.69, Nil, Rs 0.67, Rs 0.49, Nil, Rs 13.00, Rs 0.06, Rs 6.48 and Rs 6.48 per Equity Share, respectively and the Offer Price at upper end of the Price Band is Rs 306 per Equity Share.
• Weighted Average Return on Consolidated and Standalone Net Worth for Fiscals 2020, 2019 and 2018 is 15.74% and 16.44% respectively.
BID/ OFFER PERIOD:
OPENED ON: TUESDAY, SEPTEMBER 22, 2020
CLOSED ON : THURSDAY, SEPTEMBER 24, 2020
ANCHOR INVESTOR BIDDING DATE WAS : MONDAY, SEPTEMBER 21, 2020

The Offer has been made in terms of Rule 19(2)(b)(ii) of the Securities Contracts (Regulation) Rules. 1957, as amended ("SCRR"). the Equity Shares issued in the Offer shall aggregate to at least such percentage of the post- Offer Equity Share capital of our Company (calculated at the Offer Price) that will be at least Rs 4,000 million. The Offer was being made in accordance with Regulation 26(1) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 (the "2009 SEBI ICDR Regulations"), through the Book Building Process wherein not more than 50.00% of the Offer was allocated on a proportionate basis to Qualified Institutional Buyers ( QIBs ). our Company, in consultation with the BRLMs allocated 60.00% of the QIB Portion to Anchor Investors on a discretionary basis, out of which one-third was reserved for domestic Mutual Funds only, subject to valid Bids having been received from domestic Mutual Funds at or above the Anchor Investor Allocation Price. Further, 5.00% of the Net QIB Portion was available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion was available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors), including Mutual Funds, subject to valid Bids having been received at or above the Offer Price. Further, not less than 15.00% of the Offer was available for allocation on a proportionate basis to Non-lnstitutional Bidders and not less than 35.00% of the Offer was available for allocation to Retail Individual Bidders in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations. 2018, as amended (the "2018 SEBI ICDR Regulations"), subject to valid Bids being received at or above the Offer Price. All Bidders, other than Anchor Investors, were mandatorily required to utilise the Application Supported by Blocked Amount (" ASBA") process providing details of their respective bank account (including UPI ID for RIBs using UPI) which will be blocked by the Self Certified Syndicate Banks ("SCSBs") or under the UPI Mechanism, as the case may be, to participate in the Offer. Anchor Investors were not permitted to participate in the Anchor Investor Portion through the ASBA process. For further details, please see the section entitled "Offer Procedure" on page 567 of the Prospectus .

The bidding for Anchor Investor opened and closed on September 21, 2020 The company received 26 applications from 11 anchor investors for 6,111,280 equity shares. The Anchor investor price was finalized at Rs. 306 per Equity Share. A total of 5,882.352 shares were allocated under the Anchor Investor Portion aggregating to Rs 1,799,999,712.00.

The Offer (excluding Anchor Investor Portion) received 369.220 applications for 48,937,035 Equity Shares (prior to technical rejections) resulting in 3.5654 times subscription. The details of the applications received in the Offer from various categones are as under (before technical rejections):

Sr. No. Category No. of Applications Applied No. of Equity Shares Applied Equity Shares Reserved as per Prospectus No. of times Subscribed Amount (Rs.)
A. Qualified Institutional Bidders (excluding Anchor Investors) 23 22,566,852 3,921,564 5.7546 6,905,456,712.00
B. Non Institutional Investors 389 1,501,458 2,941,176 0.5105 459,435,172.00
C Retail Individual Investors 368,808 24,868,725 6,862,743 36237 7.618.457.522.00
  TOTAL 369,220 48,937,035 13,725,483 3.5654 14,983,349,406.00

Final Demand

A summary of the final demand as at different Bid prices is as under:

Sr. No. Rate Shares % to Total Cumulative Total % Cumulative Total
1 305 603,141 1 10 603,141 1.10
2 306 31,471,622 57 44 32,074,763 58.54
3 CUT-OFF 22,717,772 41.46 54,792,535 100.00
  TOTAL 54,792,535 100.00    

The Basis of Allotment was finalized in consultation with the Designated Stock Exchange, being the NSE on September 29.2020

A. Allotment to Retail Individual Bidders (after Technical Rejections)

The Basis of Allotment to the Retail Individual Bidders, who have bid at the Cut-Off Price or at the Offer Price of Rs 306 per Equity Share, was finalized in consultation with the NSE. This category has been subscribed to the extent of 3.0844 times. The total number of Equity Shares Allotted in Retail Portion is 7,465,959 Equity Shares (includes under subscribed portion of 603,216 Equity Shares spilled over from Nil Category) to 152,366 successful Retail Individual Bidder. The category-wise details of the Basis of Allotment are as under:

Sr No. Category No. of Applications Received %of Total Total No. of Equity Shares applied %to Total No. of Equity Shares allotted per applicant Ratio Total No. of Equity Shares allotted
1 49 296,373 87.13 14,522,277 63.06 49 99:221 6,505,240
2 98 23,487 6.91 2,301,726 10.00 49 99:221 515,529
3 147 6,603 1.94 970,641 4.22 49 99221 144,942
4 196 3,265 0.96 639,940 2.78 49 99:221 71,638
5 245 2,374 0.70 581,630 2.53 49 99:221 52,087
6 294 1,375 0.40 404,250 1.76 49 99:221 30,184
7 343 1,055 0.31 361,865 1.57 49 99:221 23,177
8 392 399 0.12 156,408 0.68 49 99:221 8,771
9 441 179 0.05 78,939 0.34 49 80:179 3,920
10 490 1,152 0.34 564,480 2.45 49 99:221 25,284
11 539 132 0.04 71,148 0.31 49 59 132 2,891
12 588 265 0.08 155,820 0.68 49 119:265 5,831
13 637 3,483 1.02 2,218,671 9.63 49 99:221 76,440
              25:19606 25
  TOTAL 340,142 100.00 23,027,795 100.00     7,465,959

Please note 25 Out of 19,606 Allottees from Serial no 2 to 13. were allotted 1(one) additional share

B. Allotment to Non-lnstitutional Bidders (after Technical Rejections)

The Basis of Allotment to the Non-lnstitutional Bidders, who have bid at the Offer Price of Rs 306 per Equity Share or above, was finalized in consultation with the NSE. The Non-lnstitutional Portion has been subscribed to the extent of 0.5019 times. The total number of Equity Shares Allotted in this category is 1,476,223 Equity Shares (the under subscribed portion of 1,464,953 Equity Shares in the Nil Category has been spilled over to QIBs and Retail Individual Investors in the ratio of 50:35 i.e. 861,737 Equity Shares for QIBs and 603,216 Equity Shares for Retail Individual Investors) to 368 successful Non* Institutional Bidder. The category-wise details of the Basis of Allotment are as under (Sample):

Sr. No. Category No. of Applications Received %of Total Total No. of Equity Shares applied % to Total No. of Equity Shares allotted per applicant Ratio Total No. of Equity Shares allotted
1 686 120 32.61 82,320 5.58 686 1:1 82,320
2 735 29 7.88 21,315 1.44 735 1:1 21,315
3 784 11 2.99 8,624 0.58 784 1:1 8,624
4 833 7 1.90 5,831 0.39 833 1:1 5,831
5 882 3 0.82 2,646 0.18 882 1:1 2,646
6 980 45 12.23 44,100 2.99 980 1:1 44,100
7 1,029 7 1.90 7,203 0.49 1,029 1:1 7,203
8 1,225 5 1.36 6,125 0.41 1,225 1:1 6,125
9 1,274 4 1.09 5,096 0.35 1.274 1:1 5,096
10 1,323 5 1.36 6,615 0.45 1.323 1:1 6,615
11 1,372 5 1.36 6,860 0.46 1,372 1:1 6,860
12 1,470 6 1.63 8,820 0.60 1,470 1:1 8,820
13 1,519 2 0.54 3,038 0.21 1,519 1:1 3,038
14 1,617 5 1.36 8,085 0.55 1,617 1:1 8,085
15 1,666 9 2.45 14,994 1.02 1,666 1:1 14,994
16 1,715 3 0.82 5,145 0.35 1,715 1:1 5,145
17 1,764 2 0.54 3,528 0.24 1,764 1:1 3,528
18 1,960 8 2.17 15,680 1.06 1,960 1:1 15,680
19 2,450 6 1.63 14,700 1.00 2,450 1:1 14,700
20 2,940 2 0.54 5,880 0.40 2,940 1:1 5,880
21 3,234 11 2.99 35,574 2.41 3,234 1:1 35,574
22 3,283 5 1.36 16,415 1.11 3,283 1:1 16,415
23 3,675 6 1.63 22,050 1.49 3,675 1:1 22,050
24 4,900 11 2.99 53,900 365 4,900 1:1 53,900
25 7,840 6 1.63 47,040 3.19 7,840 1:1 47,040
26 8,575 1 0.27 8,575 0.58 8,575 1:1 8,575
27 11,956 1 0.27 11,956 0.81 11,956 1:1 11,956
28 16,317 2 0.54 32,634 2.21 16,317 1:1 32,634
29 32,585 1 0.27 32,585 2.21 32,585 1:1 32,585
30 32,683 1 0.27 32,683 2.21 32,683 1:1 32,683
31 49,000 1 0.27 49,000 3.32 49,000 1:1 49,000
32 65,366 1 0.27 65,366 4.43 65,366 1:1 65,366
33 73,500 1 0.27 73,500 4.98 73,500 1:1 73,500
34 193,550 1 0.27 193,550 13.11 193,550 1:1 193,550
35 326,781 1 0.27 326,781 22.14 326,781 1:1 326,781

C. Allotment to QIBs (excluding Anchor Investors) (after Technical Rejections)

Allotment to QIBs. who have Bid at the Offer Price of Rs 306 per Equity Share or above, has been done on a proportionate basis in consultation with the NSE. This category has been subscribed to the extent of 4.7178 times of QIB Portion As per the 2018 SEBI ICDR Regulations, Mutual Funds were Allotted 5% of the Equity Shares of QIB Portion available i.e. 239,166 Equity Shares (includes under subscribed portion of 43,087 Equity Shares spilled over from Nil Category) and other QIBs and unsatisfied demand of Mutual Funds were Allotted the remaining available Equity Shares i.e. 4,544,135 Equity Shares (includes under subscribed portion of 818,650 Equity Shares spilled over from Nil Category) on a proportionate basis. The total number of Equity Shares Allotted in the QIB Portion is 4,783,301 Equity Shares, which were allotted to 23 successful QIB Bidders. The category-wise details of the Basis of Allotment are as under:

CATEGORY FIS/BANKS MF'S ICS NBFC'S AIF FPC TOTAL
ALLOTMENT 658 1,598,228 - - 665,095 2,519,320 4,783,301

D. Allotment to Anchor Investors

The Company in consultation with the BRLMs. have allocated 5.882,352 Equity Shares to 11 Anchor Investors (through 26 Applications) at the Anchor Investor Offer Price of ? 306 per Equity Share in accordance with the 2018 SEBIICDR Regulations. This represents 60% of the QIB Portion. The category-wise details are as under:

CATEGORY FIS/BANKS MF'S IC*S NBFC'S AIF FPC TOTAL
ALLOTMENT - 4,117,764 457,464 - 294,098 1,013,026 5,882,352

The IPO Committee of our Company on September 30, 2020 has taken on record the Basis of Allotment of Equity Shares approved by the Designated Stock Exchange, being NSE and has allotted the Equity Shares to various successful Bidders. The Allotment Advice-cum- refund intimation are being dispatched to the address of the investors as registered with the depositories. Further, the instructions to the Setf Certified Syndicate Banks for unblocking of funds, transfer to Public Offer Account have been issued on September 30,2020 and payment to non-Syndicate brokers have been issued on September 30.2020. In case the same is not received within ten days, investors may contact the Registrar to the Offer at the address given below. The Equity Shares Allotted to the successful Allottees have been uploaded on September 30. 2020 for credit into the respective beneficiary accounts subject to validation of the account details with the depositories concerned. The Company has filed the listing application with NSE and BSE on September 30.2020. The Company has received listing and trading approval from NSE and BSE and the trading will commence on or about October 5,2020.

All capitalised terms used and not specifically defined herein shall have the same meaning as ascribed to them in the Prospectus.

INVESTORS PLEASE NOTE

The details of the Allotment made have been hosted on the website of Registrar to the Offer, Link Intime India Private Limited at www.linkintime.co.in

All future correspondence in this regard may kindly be addressed to the Registrar to the Offer quoting full name of the First/ Sole applicant. Senal number of the ASBAform. number of Equity Shares bid for, name of the Member of the Syndicate, place where the bid was submitted and payment details at the address given below:

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C-101,1st floor. 247 Park. Lal Bahadur Shastri Marg, 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.inWebsite: www.linkintime.co.in
Contact Person: Shanti Gopalkrishnan; SEBI Registration No.: INR000004058
  For ANGEL BROKING LIMITED
  On behalf of the Board of Directors
Place: Mumbai Sd/-
Date: October 01, 2020 Company Secretary and Compliance Officer

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARES ON LISTING OR THE BUSINESS PROSPECTS OF ANGEL BROKING LIMITED

ANGEL BROKING LIMITED has filed the Prospectus dated September 26,2020 with the Registrar of Companies. Maharashtra at Mumbai The Prospectus Shan be available on the websites of SEBI. BSE and NSE at www.sebtgov.in,www.bsemdia.com and www.nseindia.com, respectively, and is available on the websites of the BRLMs, i.e , www icicisecunties com. www.edelwetssfin.com and www.sbicaps.com. respectively, investors should note that investment in equity shares involves a high degree of risk and for details refer to the Prospectus, including the section entitled 'Risk Factors ' on Page 19 of the Prospectus..

The Equity Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act"), or the securities laws of any state of the United States and may not be offered or sold in the United States, except pursuant to an exemption from, or m a transaction not subject to: the registration requirements of the Securities Act and applicable US stale securities laws The Equity Shares are being offered and sold only outside the United States m offshore transactions in reliance on Regulation S under the Securities Act. There will be no offering of the Equity Shares in the United States