Angel One to raise funds up to ₹2000 crore via preferential issue, QIP, other modes
Angel One plans to raise funds up to ₹2000 crore via preferential issue, further public offer, qualified institutions placement (QIP) or other modes, said the company in its BSE filing on Thursday. The plan to raise funds via different modes was approved at the Board of Directors meeting held earlier in the day.
The company will now seek approval from the shareholders for the proposed fundraise. Also Read: Buy or sell: Osho Krishan of Angel One recommends buying Godrej Consumer Products and HDFC Bank stocks today The raised funds will be used by the company to augment and build financial flexibility and to ensure a smoother expansion of its broking business.
The proposed amount will also enable the company to harness emerging opportunities across the inorganic universe within the fintech space. Also Read: GPT Healthcare IPO: 10 key risks from the RHP you should know before subscribing While mentioning the approval of fundraising among several proposals that received greenlight by the board, the company said, "to consider, inter alia, proposal for raising of funds in one or more tranches by way of issuance of such number of equity shares having face value ₹10 each of the Company (“Equity Shares") or any other eligible securities or any combination thereof (hereinafter referred to as "Securities"), for an aggregate amount not exceeding Rs.
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