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Mumbai, Retail broking house <keyword id="103837" type="PERSON" weightage="20" keywordseo="Angel-Broking">Angel Broking</keyword> Limited will open its initial public offering (IPO) of equity shares on September 22, 2020. The offer will close on September 24, 2020. The price band of the offer has been fixed at Rs 305 to Rs 306 per equity share. The company plans to raise Rs 600 crore through the offering of equity shares. "The initial public offering consists of the equity shares of the company aggregating up to Rs 6,000 million (600 crore) comprises of a fresh issue company aggregating up to Rs 3,000 (300 crore) and an offer for sale aggregating up to Rs 3,000 million (300 crore)," a company statement said. The offer for sale would consist of Rs 18.33 crore and up to Rs 4.5 crore worth of shares by the promoters Ashok D. Thakkar and Sunita A. Magnani, and up to Rs 120 crore worth of shares by the investor IFC and up to Rs 157.16 crore of shares by the individual shareholders respectively. Bids can be made for a minimum of 49 Equity Shares and in multiples of 49 Equity Shares thereafter. The Equity Shares offered in the offer are proposed to be listed at both BSE Limited and the National Stock Exchange of India Limited. For the purpose of the offer, NSE is the designated stock exchange, the statement added. ICICI Securities Limited, Edelweiss Financial Services Limited and SBI Capital Markets Limited are the book running lead managers to the offer. SEE ALSO: <a href="https://www.businessinsider.in/sports/news/dailyhunt-app-founders-confirm-ipl-2020-associate-sponsorship/articleshow/78169667.cms">EXCLUSIVE: Dailyhunt founders confirm IPL 2020 associate sponsorship — promise new release for Josh ahead of India’s biggest cricket tournament</a> <a href="https://www.businessinsider.in/defense/news/latest-updates-on-india-china-border-issue/articleshow/78162853.cms">Chinese air drills in Lhasa, Chinese propaganda against Rajnath Singh and other latest updates on the India-China border issue</a> <a href="https://www.businessinsider.in/stock-market/markets/news/hcl-tech-enters-the-list-of-top-10-most-valued-companies-in-india/articleshow/78165311.cms">HCL Tech enters the list of top 10 most valued companies in India</a> <a href="https://www.businessinsider.in/science/space/news/jupiters-red-spot-junior-is-ready-to-change-colors-turning-brick-red-yet-again/articleshow/78181222.cms">Jupiter's Red Spot Junior is ready to change colors — turning brick-red yet again</a>

Angel Broking IPO set to open on September 22 — price band fixed at ₹305 to 306

<ul><li><keyword id="103837" type="PERSON" weightage="20" keywordseo="Angel-Broking">Angel Broking</keyword> added 12 lakh new clients in Apr-Jun as compared to 9.6 lakh in Jan-Mar.</li><li>The broking house has given ₹5.15 dividend per share in the first quarter of this financial year.</li><li>Average monthly net broking income rose to ₹68.5 crore in June quarter from ₹33.9 crore in the corresponding quarter last year.</li></ul>Awareness about investment, savings, insurance and wealth creation seems to have peaked during the pandemic and that is being reflected in India’s equity markets as well. The increase in stock market investment has benefitted traditional stock broking companies like Angel Broking, which added 12 lakh new clients between April and June as against 9.6 lakh it added during this time last year. “It is heartening to see that we continue to sustain high growth across parameters, even on a large base, with a majority of incremental clients coming from tier 2, 3 and beyond cities. As Bharat opens up more aggressively, to the idea of systematic wealth creation, we shall witness a massive growth opportunity unfolding, for the fintech industry,” said Narayan Gangadhar, chief executive officer of Angel Broking in a press note. Investors cheered this news on Dalal Street as the shares of the company surged 20% to ₹1,272 at 1:08 p.m., on Friday, July 16. Mirroring these gains, shares of peer Motilal Oswal also surged 13% to ₹1,149 as of 1:08 p.m. The rising number of investors under Angel Broking has accelerated the company’s net broking income. Out of the ₹474 crore of total income, 68% of income -- ₹322 crore -- has come from broking. The broking house has also announced a dividend of ₹5.15 per share. <div type="image" title="Angel broking net broking income" height="900" width="1200" msid="84469003" hostid="261"></div> The broking house also reported a massive jump of over 200% in net profit. Its revenue from operations increased to ₹457 crore in June quarter from ₹236 crore last year. <div type="image" title="Angel broking profit" height="900" width="1200" msid="84469017" hostid="261"></div> Angel Broking is among the top five stock brokers -- others being Zerodha, Upstox, ICICI Securities and HDFC securities -- with the highest market share. According to research platform Trade Brains, it holds a market share of 8.28%. <div type="image" title="Angel share chart" height="900" width="1200" msid="84469023" hostid="261" caption="&amp;lt;p&amp;gt;&amp;lt;sup&amp;gt;&amp;lt;/sup&amp;gt;&amp;lt;/p&amp;gt;"></div> SEE ALSO: <a href="https://www.businessinsider.in/business/news/paytm-has-filed-for-2-2-billion-ipo/articleshow/84465551.cms">Paytm has filed for $2.2 billion IPO </a> <a href="https://www.businessinsider.in/business/auto/news/ola-electric-scooter-design-battery-charging-time-and-expected-price-in-india/articleshow/84467839.cms">Ola electric scooter design, battery charging time and expected price in India</a>

Angel Broking shares surge 20% as rising awareness among investors turns in favour of the stock broker

<ul><li>The IPO price band was set at ₹305-306 per equity share and the stock listed at ₹275.</li><li> Within minutes after listing, the shares of <keyword id="103837" type="PERSON" weightage="20" keywordseo="Angel-Broking">Angel Broking</keyword> gained nearly 5% of their value and were trading at ₹287.85 apiece.</li><li>The company’s total market cap rose to ₹2,339.45 crore at 10:05 am.</li><li>Here’s why it failed to impress investors. </li></ul>It was a lacklustre debut for the ₹600 crore IPO of India’s fourth-largest stockbroking firm Angel Broking on the bourses today. The stock listed at ₹275, which is at a 10% discount to the IPO price band set at ₹305-306 per share. Within minutes after listing, the shares of Angel Broking gained nearly 5% of their value and were trading at ₹287.85 apiece at 10:05 am. <div type="image" title="Angel Broking (2)" msid="78486377" hostid="261"></div> The company’s total market cap rose to ₹2,339.45 crore at 10:05 am. A total traded quantity of 2.36 lakh shares changed hands on BSE, amounting to a turnover of ₹7.27 crore. Ahead of the IPO, Angel broking also raised ₹180 crore from 12 anchor investors that included Goldman Sachs India, Macquarie Fund Solutions, Invesco Trustee, Max Life Insurance company, ICICI Prudential, HDFC Mutual Fund, and Sundaram MF, among others. Why did it fail to garner investors' interest? The investor pessimism already reflected in the grey market premium ahead of the listing, it was trading much lower than its IPO peers. Most of the brokerage reports highlighted various vital factors that may impact its business in the near future. As of June, 30 Angel Broking garnered 72.2% of the total income from broking business, and according to HDFC Securities, "any reduction in its brokerage fee could have a material adverse effect on the business." With SEBI tightening rules here and there, brokerages remain cautious about Angel Broking's business. Tough competition The company also faces fierce competition from its other brokerages’ firms like — Zerodha and Share Khan, among others. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Users </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Angel Broking </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.15 million </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zerodha </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3 million </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Paytm Money (Mutual funds. Stock broking launched recently) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6.6 million </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Groww </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">80 lakh </td></tr></tbody></table>Source: Company data SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-ril-tcs-hcl-tech-hero-motocorp-vedanta-solar-industries-iti-and-others/articleshow/78484703.cms" data-type="tilCustomLink">Top stocks to watch— RIL, TCS, HCL Tech, Hero MotoCorp, Vedanta, Solar Industries, ITI and others</a> <a href="https://www.businessinsider.in/stock-market/news/how-to-check-mazagon-dock-shipbuilders-ipo-share-allotment-status/articleshow/78474515.cms" data-type="tilCustomLink">Mazagon Dock Shipbuilders IPO allotment: Here’s how to check share allotment status</a>

Weak debut for Angel Broking — shares list at 10% discount from the IPO price

<ul><li>This will be the eighth IPO to hit the market this year— and fifth this month. </li><li>Angel Broking has raised ₹180 crore from 12 anchor investors, including Goldman Sachs India, Macquarie Fund Solutions, Invesco Trustee among others to name a few. </li><li>The<a href="https://www.ipowatch.in/2020/08/angel-broking-ipo-gmp-grey-market-premium-kostak-rates.html"> grey market premium currently</a> suggests an upside of ₹40-45 over the issue price band.</li><li>Here’s what other brokerages have to say on Angel Broking’s IPO. </li></ul>India’s fourth-largest stockbroking firm Angel Broking’s ₹600 crore IPO will open for subscription from today (September 22). It will be the eighth IPO to hit the market this year— and fifth this month. Ahead of the IPO, Angel broking has raised ₹180 crore from 12 anchor investors, including Goldman Sachs India, Macquarie Fund Solutions, Invesco Trustee, Max Life Insurance company, ICICI Prudential, HDFC Mutual Fund, and Sundaram MF. Angel Broking has set an issue price band of ₹305-306 per equity share, and it is already gaining attraction in the grey market. The<a href="https://www.ipowatch.in/2020/08/angel-broking-ipo-gmp-grey-market-premium-kostak-rates.html"> grey market premium currently</a> suggests an upside of ₹40-45 over the issue price band. The grey market premium of all the upcoming IPOs took a massive hit yesterday after a <a href="https://economictimes.indiatimes.com/markets/stocks/news/sensexs-811-point-fall-hits-grey-market-premiums-of-three-ipos/articleshow/78236923.cms">blood bath in the market led to an 800 points crash</a> in Sensex. Brokerages on Angel Broking <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerage </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">View on Angel Broking IPO </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Securities </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Not Rated </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Direct Research </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Not Rated </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Anand Rathi Research team </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">KR Choksey </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr></tbody></table> KR Choksey IPO research report maintained a ‘subscribe’ recommendation and said, “Angel Broking manages ₹132.5 billion of AUM for an overall client base of 2.15 million as of June 2020. It was placed at 4th rank in market share amongst leading players in the industry with the consistent growth in a number of NSE active clients which were at 0.77 million as on June 20. According to CRISIL Research, equity broking revenue has witnessed 10.5% growth during FY15-20. We expect more participation in the equity markets given the excess liquidity in the market and lower interest rates on bank’s term deposits” Risk factors to consider before hitting ‘subscribe’ for <keyword id="9958673" type="UNKNOWN" weightage="20" keywordseo="angel-broking-ipo">Angel Broking IPO</keyword> The ICICI Direct and HDFC Securities report highlighted some key risk factors to consider before one should decide to click on ‘subscribe’. As of June, 30 Angel Broking garnered 72.2% of the total income from broking business and according to HDFC Securities, “any reduction in its brokerage fee could have a material adverse effect on the business.” It also said that “general economic and market conditions in India and globally could have a material adverse effect on the business, financial condition, cash flows, results of operations and prospects.” The ICICI Direct report said the company might face concentration risks. “As of June 30, Angel Broking had 21.5 lakh operational broking accounts of which 8.1 lakh clients had traded on the exchanges in the preceding 12 months. Top 20% of its active clients (1.6 lakh clients) accounted for over 91.3% of the company’s brokerage income.” Which, according to the research firm, poses a threat to “company’s business, results of operation, financial condition and cash flows.” SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/chemcon-speciality-chemicals-318-crore-ipo-heres-what-works-and-what-doesnt/articleshow/78231465.cms" data-type="tilCustomLink">Chemcon Speciality Chemicals ₹318 crore IPO fully subscribed within two hours — Here’s what works and what doesn't</a> <a href="https://www.businessinsider.in/business/corporates/news/interview-angel-broking-ceo-believes-the-600-crore-ipo-will-ride-the-digital-euphoria/articleshow/78235409.cms" data-type="tilCustomLink">INTERVIEW: Angel Broking CEO believes the ₹600 crore IPO will ride the ‘digital’ euphoria</a>

Angel Broking ₹600 crore IPO opens today: Here’s what works for it and what doesn’t

<ul><li>The basis of allotment for ₹600 crore <keyword id="9958673" type="UNKNOWN" weightage="20" keywordseo="angel-broking-ipo">Angel Broking IPO</keyword> will be announced on<a href="https://www.chittorgarh.com/ipo/cams-ipo/1055/"> </a><a href="https://www.chittorgarh.com/ipo/angel-broking-ipo/1057/" data-type="tilCustomLink">September 29</a>. It is scheduled to list on October 1.</li><li>The issue received bids for 5.42 crore shares against the offered size of 1.37 crore shares.</li><li>Here’s how to check <keyword id="10012404" type="UNKNOWN" weightage="20" keywordseo="angel-broking-ipo-allotment">Angel Broking IPO allotment</keyword> status on NSE, BSE, and the registrar website.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>The share allocation for ₹600 crore initial public offering (IPO) of Indian stockbroking firm, Angel Broking, will be finalised tomorrow. The public offering garnered a strong response from the investors, and the IPO was oversubscribed nearly 3.94 times on the final day. The issue received bids for 5.42 crore shares against the offered size of 1.37 crore shares. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Angel Broking IPO </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Qualified Institutional Buyer </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non-institutional Investor </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail Individual Investor </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shares Offered </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3,934,425 </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2,950,820 </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6,885,246 </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">13,770,491 </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No. of times issue subscribed </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.74 times </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.69 times </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.31 times </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.94 times </td></tr></tbody></table> The shares of Angel Broking are set to debut on the bourses on October 1. The <a href="https://www.ipowatch.in/2020/08/angel-broking-ipo-gmp-grey-market-premium-kostak-rates.html">grey market premium</a> suggests an upside of ₹10-15 on the issue price band. Here’s how to check Angel Broking IPO <keyword id="8894240" type="UNKNOWN" weightage="20" keywordseo="allotment-status">allotment status</keyword>: If you subscribed for the ₹600 crore <keyword id="10012403" type="UNKNOWN" weightage="20" keywordseo="ipo-of-angel-broking">IPO of Angel Broking</keyword>, you could check your allotment status by following these simple steps: To check on the Indian stock-exchange website: <ul><li>To check the Angel Broking IPO allotment status, go to the India stock-exchange <a href="https://www.bseindia.com/investors/appli_check.aspx">BSE </a>or <a href="https://www1.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp">NSE website</a> here.</li><li>On BSE, Select ‘Equity’ and then from the dropdown, select ‘Angel Broking’. </li><li>Now, enter your application number and PAN.</li><li>Click on ‘Search’.</li></ul>Please note the details will only be available once the shares are allotted. You can also visit the Registrar website (Link Intime India) to check your application status. <ul><li>Visit the registrar’s website <a href="https://www.linkintime.co.in/IPO/public-issues.html">here</a>.</li><li>Click on ‘Select company’ and click on ‘Angel Broking-IPO’. It will only appear post allotment on September 28.</li><li>Once the company is selected, you will have to enter either your PAN detail, the application number, or client ID.</li><li>Enter the captcha and click ‘submit’. </li></ul>Once you hit ‘submit’ the status of your application will appear on the screen. Please ensure the details that you provide are correct. It will show the number of shares that you subscribed during the IPO opening and the number of shares that have been allotted to you. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/stocks-to-watch-sbi-ril-hero-moto-future-group-sun-pharma-vodafone-idea-berger-paints-and-ntpc/articleshow/78356485.cms" data-type="tilCustomLink">Top stocks to watch— SBI, RIL, Hero Moto, NTPC, Sun Pharma, Vodafone Idea, Berger Paints and others</a> <a href="https://www.businessinsider.in/india/news/hyperloop-in-bengaluru-might-help-you-reach-the-city-in-10-minutes-from-the-airport/articleshow/78357354.cms" data-type="tilCustomLink">Hyperloop in Bengaluru might help you reach the city in 10 minutes from the airport</a>

Angel Broking IPO allotment: Here’s how to check share allotment status

<ul><li><keyword id="100578" type="COMPANY" weightage="20" keywordseo="Sharekhan">Sharekhan</keyword> today announced its foray into digital-led <keyword id="2888417" type="PERSON" weightage="20" keywordseo="Discount-broking">discount broking</keyword> with a new platform – Espresso.</li><li>In an interview with Business Insider, R Kalyanaraman, Espresso’s Chief Customer Officer, explains why for the 20-year old firm, discount broking was seen as the ‘need of the hour’ to serve India’s new age stock broking investor – the millennial Indian. </li><li>In a bid to win the confidence of the consumer, Espresso works on a model where it will take brokerage fees for intra-day trading only if the user makes a profit.</li></ul>Leading stock broking firm Sharekhan today announced its foray into digital-led discount broking with a new platform – Espresso. For the 20-year old firm, discount broking was seen as the ‘need of the hour’ to serve India’s new age stock broking investor – the millennial Indian. And interestingly, in a bid to win the confidence of the consumer, Espresso works on a model where it will take brokerage fees for intra-day trading only if the user makes a profit. In an interview with Business Insider, R. Kalyanaraman, Espresso’s Chief Customer Officer, talks about Espresso and the company’s plan to take no charge for brokerages services if you register a loss in an intra-day trade. Discount broking foray Kalyan believes that multiple things have happened in the last three-five years that led to Sharekhan’s entry into discount broking. “There is clearly a segmentation of customers. One which seeks services from a full services broker like Sharekhan, they need a relationship manager, reports, and a lot more hand-holding. And in the last few years, we have observed the trend that there are a lot of new to market investors who want to do things by themselves,” he said. So Espresso was built for this emerging clan of customers who just needed digital support but would trade the DIY way. “An Espresso customer would be very different from a Sharekhan consumer,” he said. Espresso will be competing with the likes of Zerodha who have already garnered a good reputation in the market. Espresso Competition <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Users </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Angel Broking </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.15 million </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zerodha </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3 million </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Paytm Money (Mutual funds. Stock broking launched recently) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6.6 million </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Groww </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">80 lakh </td></tr></tbody></table>Source: Company data Building for the millennial customer Right from the name ‘Espresso’ to the look and feel of the website, it doesn’t look like a traditional stock broking firm. Kalyan says it was an intentional step to build a product for the new-age customer. “The whole idea of branding the new company Espresso was to communicate in clear terms that investing is not a taboo – it’s not something to dread about,” he said. Kalyan shared that in the past few months, discount brokers account for nearly 60-70% of the total new accounts opened, which shows that the average investor age group is getting younger. Sharekhan CEO Jaideep Arora shared during a conference call with reporters that while they have already invested ₹50 crore in Espresso, they would invest more ₹25-30 crore along the way. Free brokerage if you register a loss in intra-day transactions Espresso has also made a bold move with a ‘Pay When You Profit’ pricing model for intra-day trading. With this, the company will charge brokerage fees only when you make a profit on the same day trading. “The idea was to give the customer an additional chance to learn from their mistakes. I’m trying to say that for an intra-day trade, even if you make a mistake, don’t worry, don’t pay me brokerage. There are multiple ways to connect with the customer and this is our way of saying we are in this for the long haul,” said Kalyan. And he dismisses that this model might not be sustainable. Instead, he says if they can build credibility with this model, they will show the consumer that they “are partnering with the user for the road to success”. “We have a huge support from the balance sheet of BNP Paribas (Sharekhan’s parent company) and we can go ahead and paint the town red. We chose not to do so because we don’t want to just spend money and acquire customers. We hope to make a serious name in the stock broking industry and be in the top 3 in the next five years,” said Kalyan. SEE ALSO: <a href="https://www.businessinsider.in/business/news/smaaash-shuts-down-founder-calls-it-a-premature-death-for-the-company/articleshow/78251754.cms">Smaaash shuts down – founder calls it a ‘premature death’ for the company</a> <a href="https://www.businessinsider.in/business/startups/news/insurancedekho-raises-its-maiden-20-million-from-parent-co-plans-to-expand-to-its-reach-in-the-real-bharat/articleshow/78250655.cms">INTERVIEW: InsuranceDekho raises its maiden $20 million from parent co – plans to expand to its reach in the ‘real Bharat’</a> <a href="https://www.businessinsider.in/tech/apps/news/dailyhunt-to-launch-family-of-bharat-apps-claiming-it-can-push-a-new-mobile-app-every-three-days/articleshow/78250283.cms">EXCLUSIVE: Dailyhunt is curating an entire family of 'Bharat' apps — claims it can push a new mobile app every three days</a>

INTERVIEW: Sharekhan’s new discount broking platform will take no fees for a loss-making trade

<ul><li>These IPOs are coming at a time when the markets are flush with liquidity, and some of the preceding issues have been oversubscribed at record levels.</li><li>The grey market premium suggests that all these <keyword id="6354763" type="UNKNOWN" weightage="20" keywordseo="ipo">IPO</keyword> are slated to see a positive response from the investors. </li><li>Here’s everything you need to know about <keyword id="271251" type="COMPANY" weightage="20" keywordseo="Cams">CAMS</keyword>, <keyword id="9968328" type="UNKNOWN" weightage="20" keywordseo="Chemcon">Chemcon</keyword> and <keyword id="103837" type="PERSON" weightage="20" keywordseo="Angel-Broking">Angel Broking</keyword> IPOs.</li></ul>After two successful Initial Public Offerings (IPO) this month — Happiest Minds Technologies and Route Mobile— the market may not be done yet. The week ahead looks busy, three more IPOs — CAMS, Chemcon and Angel Broking— are ready to hit the market. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Upcoming IPO </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Opens On </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Closes On </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">CAMS </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">September 21 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">September 23 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Chemcon </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">September 21 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">September 23 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Angel Broking </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">September 22 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">September 24 </td></tr></tbody></table> These IPOs are coming at a time when the markets are flush with liquidity, and some of the preceding issues have been oversubscribed at record levels. And, the grey market premium suggests that all these IPO are slated to see a positive response from the investors. <table style="border-width: initial; border-style: none;"></colgroup></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Upcoming IPO </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Grey Market Premium (per share) </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">CAMS </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹375-400 </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Chemcon </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> ₹340-350 </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Angel Broking </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹55-75 </td></tr></tbody></table>*As of Sept 18. Here’s everything you need to know about these IPOs: CAMS ₹2,240 crore IPO Computer Age Management Services(CAMS) ₹2,240 crore IPO will hit the market on September 21. The share sale will remain open for investors till September 23.CAMS has set the price band at ₹1,229-1,230 per share. CAMS is a technology-driven financial infrastructure and services provider to mutual funds and other asset management companies. And, it claims to be India’ ’s largest registrar and transfer agent of mutual funds with a market share of nearly 70%, based on mutual fund average assets under management (AAUM), as of November 2019. The 30-year old company has some marquee names in its shareholder’s list, such as— NSE Investments, Warburg Pincus, Faering Capital ACSYS Investments, and HDFC Group. Chemcon Speciality Chemicals ₹165 crore IPO The manufacturer of specialised chemical products, Chemcon Speciality Chemicals, will also float its ₹165 crore IPO from September 21. The company today fixed the price band at ₹338-340 per share for its initial share-sale. The share-sale will remain open till September 23 for investors, the company said. The Vadodara-based Chemcon intends to utilise the IPO proceeds to meet the capital expenditure for the expansion of its manufacturing facility, fund working capital requirements, and general corporate purposes. The company exports products to global markets covering the US, Germany, Italy, South Korea, Japan, the United Arab Emirates, Serbia, Russia, Spain, Thailand, and Malaysia. And, some of its top clients include marquee names like Laurus Labs, Aurobindo Pharma, and Ind-Swift Laboratories. Angel Broking ₹600 crore IPO The Indian stockbroker firm Angel Broking is also ready to float its ₹600 crore IPO from September 22 onwards. Angel Broking has fixed a price band of ₹305-306 per share. The subscription will remain open for subscribers until September 24, and the bidding for anchor investors will open on September 21. The broking firm said it aims to use the IPO proceeds for meeting working capital requirements and for general corporate purposes. According to the company's <a href="https://www.icicisecurities.com/Upload/ArticleAttachments/Angel%20Broking%20Limited%20Red%20Herring%20Prospectus.pdf" data-type="tilCustomLink">red herring prospectus</a>, it has over 2.15 million operational broking accounts as of June 30. Also, watch out for ₹600 crore issue of Route Mobile, which was subscribed 74 times, and will list on Monday, September 21. This comes on the heels of Happiest Minds Tech’s stellar listing last week. The stock surged 130% over its issue price on the day of listing. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/news/from-memes-to-suing-the-government-heres-how-social-media-creators-are-reacting-to-the-impending-tiktok-download-ban/articleshow/78211351.cms">From memes to suing the government, here's how social-media creators are reacting to the impending TikTok download ban</a>

IPO rush this week — CAMS, Chemcon and Angel Broking gear up to hit the market

<ul><li><keyword id="6357120" type="DEFINITION" weightage="20" keywordseo="paytm">Paytm</keyword>’s subsidiary <keyword id="6135170" type="UNKNOWN" weightage="20" keywordseo="Paytm-Money">Paytm Money</keyword> has received the approval from market regulator <keyword id="35210" type="ORGANIZATION" weightage="20" keywordseo="sebi">SEBI</keyword> to start <keyword id="400838" type="COMPANY" weightage="20" keywordseo="stock-broking">stock broking</keyword>. </li><li>The company has also partnered with BSE and NSE. </li><li>Paytm’s parent company is reportedly in talks to raise funding which will take its valuation to $18 billion. </li></ul>Indian fintech unicorn Paytm’s subsidiary – Paytm Money has received approval from Securities &amp; Exchange Board of India (SEBI) the market regulator to start stock broking. With this, one can soon start buying shares through Paytm Money. Additionally, Paytm Money has also signed a partnership with the Bombay Stock Exchange and the National Stock Exchange. In an official blog, the company wrote, “We will be introducing new capabilities &amp; offerings on our platform, such as trading in equities &amp; cash segments, derivatives, ETFs and exchange traded products.” Paytm Money currently offers its users mutual fund investments and had <a href="https://www.businesstoday.in/current/corporate/mutual-funds-paytm-money-vijay-shekhar-sharma-share-trading/story/282818.html">reportedly</a> applied for license for stock broking in October 2018. The company, which has 300 million registered users, will then be able to offer shares and trading to a large number of people, through their phone. While the feature is not live yet, the company is building a reliable platform and is also working on “integrations with both exchanges and depository”. Paytm’s parent company One97 communications has been growing its business through multiple verticals. Be it Paytm Money or the troubled Paytm Mall, the company has been bullish about its growth trajectory. There are reports about One97 communications <a href="https://tech.economictimes.indiatimes.com/news/startups/paytm-raising-up-to-2b-valuation-may-touch-18b/68605124">raising </a>its next round of funding for $2 billion which will take the company’s valuation to $18 billion. Japanese investment firm <keyword id="163404" type="COMPANY" weightage="20" keywordseo="Softbank">Softbank</keyword> and Chinese giant <keyword id="302749" type="COMPANY" weightage="20" keywordseo="Alibaba">Alibaba</keyword> are both major investors in Paytm, with 19% and 38% stake respectively. See Also: <a href="https://www.businessinsider.in/paytm-takes-on-airbnb-makemytrip-oyorooms-and-trivago-with-its-latest-offer-hotel-bookings/articleshow/67755276.cms">Paytm is competing with almost everyone in Indian e-commerce</a> <a href="https://www.businessinsider.in/amazon-india-and-amazon-pay-sales-may-increase-as-the-online-retail-giant-expands-physical-presence/articleshow/68590870.cms">After 7 years in India, Amazon has finally learnt that there is more money offline</a>

Alibaba-backed Paytm gets greenlight from India's market regulator to launch stock broking services

San Francisco, After <keyword id="6354427" type="ORGANIZATION" weightage="20" keywordseo="apple">Apple</keyword>, <keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword> became the second US tech company to log its largest quarter by revenue of all time at $125.56 billion, as online shopping broke all records in the holiday quarter (October-December period) amid the <keyword id="8902449" type="UNKNOWN" weightage="20" keywordseo="covid-19-pandemic">Covid-19 pandemic</keyword>. The company doubled its net income to $7.2 billion for the quarter, compared to $3.3 billion for the same period in 2019. Amazon's full-year 2020 net sales were up 38 per cent, to $386.1 billion. The Amazon stock were up 1 per cent in extended trading on Tuesday. Amazon also announced that Jeff Bezos will transition to the role of Executive Chair in the third quarter of 2021 and Andy Jassy, CEO of AWS, will become Chief Executive Officer at that time. "Amazon is what it is because of invention. We do crazy things together and then make them normal. We pioneered customer reviews, 1-Click, personalized recommendations, Prime's insanely-fast shipping, Just Walk Out shopping, the Climate Pledge, Kindle, Alexa, marketplace, infrastructure cloud computing, Career Choice, and much more," said Bezos who founded Amazon in 1994. "When you look at our financial results, what you're actually seeing are the long-run cumulative results of invention. Right now I see Amazon at its most inventive ever, making it an optimal time for this transition," he added. During a call with investors, Amazon CFO Brian Olsavsky said the company has a "highly effective" succession plan in place. Amazon's cloud-computing arm AWS saw its revenue jump 28 per cent to $12.7 billion from $9.95 billion a year earlier. Earlier, riding on the stellar performance of iPhones, wearables and services in the festive December quarter, Apple posted an all-time record revenue of $111.4 billion in its history, up 21 per cent year over year, and quarterly earnings up 35 per cent. SEE ALSO: <a href="https://www.businessinsider.in/business/news/carlyle-brighton-park-invest-200-million-in-indian-healthtech-company-indegene/articleshow/80661573.cms">Carlyle, Brighton Park invest $200 million in Indian healthtech company Indegene</a> <a href="https://www.businessinsider.in/business/news/mukesh-ambani-ratan-tata-and-anand-mahindra-might-come-together-for-indias-new-national-hydrogen-mission/articleshow/80645570.cms">Mukesh Ambani, Ratan Tata, and Anand Mahindra might come together for India’s new National Hydrogen Mission</a> <a href="https://www.businessinsider.in/stock-market/news/indigo-paints-shares-listed-at-2607-which-is-at-75-premium-to-the-set-price-band-at-1488-1490-per-share/articleshow/80643645.cms">India’s fifth-largest paint maker Indigo Paints IPO lists at 75% premium over the issue price</a>

After Apple, Amazon becomes second tech company to surpass $100 billion in quarterly revenue

At a time when traditional brokers are struggling to continue their services due to nationwide lockdown to curb the spread of <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">coronavirus</keyword> pandemic, online brokerages, including <keyword id="3489555" type="PERSON" weightage="20" keywordseo="upstox">Upstox</keyword>, 5paisa.com and <keyword id="103837" type="PERSON" weightage="20" keywordseo="Angel-Broking">Angel Broking</keyword>, have seen a spurt in business. The current crisis seems to be a blessing in disguise for these brokerages, as their number of clients as well as orders increased in March. Moreover, there has been a significant increase in trading volumes and demand for opening new accounts as well. "Currently our entire operations is being carried out smoothly without any hindrance. As 99.9 per cent of our turnover happens online there is hardly any impact on our business. Actually with <keyword id="31671" type="CITY" weightage="20" keywordseo="markets">markets</keyword> being volatile client activity has increased and business has shown decent growth this month," said Prakarsh Gagdani, CEO, 5Paisa.com. Though our customer support on telephone is not working, the company is answering all client queries on emails and hence are able to manage everything properly, he added. Gagdani further said, in March, "the acquisition growth rate grew by over 60 per cent and revenues also saw a decent growth". Angel Broking CMO Prabhakar Tiwari said, "the current crisis is a blessing in disguise to help showcase our digital brokerage services, as a much superior option in comparison to other traditional broking firms". The brokerage saw more than one lakh new customers acquisition in March. Interestingly, a significant number of customers are from tier II and tier III towns. "Even our existing customers have rewarded us by doing more than two million trades in a single day creating a new record last month," he added. Upstox said it is witnessing unprecedented increase in trading volumes and demand for opening new accounts. The online discount broker said it had witnessed about 55 per cent increase in the number of orders in March compared to the previous month. Further, it also expects to beat its earlier industry record of 1 lakh new client additions in a single month. It had registered an addition of 1 lakh new clients in December. Apart from these, investment platform Smallcase Technologies has also seen an increase in its new investor numbers in March. The platform has registered a 1.5 times increase in new investors in March compared to the previous month. It has seen a 3.5 times growth in its new accounts leads in March on a month-on-month basis. Even, orders have risen by 1.6 times in the month. Smallcase is an investment platform that allows Sebi registered professionals to efficiently share their research as investable "smallcases" to their clients. A 21-day nationwide lockdown is in force in the country to contain the spread of coronavirus pandemic. <keyword id="6357440" type="DEFINITION" weightage="20" keywordseo="Stock-Market">Stock market</keyword>s markets across the world witnessed high volatility in March amid concerns of coronavirus pandemic and its impact on the global economy. In India, the stock market saw massive decline in the month of March, including trading halt on two occasions last month. Last month, stock brokers' association Amfi had urged the markets regulator Sebi to allow systematic closure of the stock markets till the nationwide lockdown remains in force. SEE ALSO:<a href="https://www.businessinsider.in/topic/coronavirus">Coronavirus News and Updates</a> <a href="https://www.businessinsider.in/india/news/how-to-check-coronavirus-symptoms-at-home/articleshow/74960334.cms">What are the Coronavirus symptoms and how to check for them at home</a>

Stock brokers see a record number of customer additions even as markets slump

Riding positive indicators from markets abroad, gold traded on a new record high on the futures trade market in India. It traded at Rs 45,724 per 10 gm on <keyword id="6355409" type="ORGANIZATION" weightage="20" keywordseo="mcx">MCX</keyword> even as silver too was on strong wicket. The high gold price in international market continued for the fifth consecutive day. On <keyword id="57178" type="COMPANY" weightage="20" keywordseo="comex">Comex</keyword>, it rose to a seven-year high. On Multi-Commodity Exchange (MCX), gold prices for June was trading Rs 1515 (3.47 per cent) higher at Rs 45,237 per 10 gm in the morning compared with earlier session. <keyword id="103837" type="PERSON" weightage="20" keywordseo="Angel-Broking">Angel Broking</keyword> Deputy Vice President Anuj Gupta said that the high gold price was expected to continue on a high due to investors interest in precious metals in view of economic uncertainties. Silver was trading on the MCX for Rs 43,275 per kg, an increase of Rs 2052, in the first session. It opened at Rs 42,871 and went up to Rs 43,532. In the international future trades markets, gold was trading on Comex at 1,742.20 dollars to an ounce, which was the second highest since October 18 when it was 1,749.10 dollars. Kedia Advisory Director <keyword id="728300" type="PERSON" weightage="20" keywordseo="Ajay-Kedia">Ajay Kedia</keyword> said the high price was due to the fact that gold was seen as a safe investment. Gold was selling for June contract on Comex at 1,711.70 dollars, an increase of 17.80, per ounce. It went up to 1,742 dollars, the highest for seven-and-a-half years. Silver for May contract was selling at 15.55 dollars per ounce, an increase of 2.56 dollars. Market experts said gold prices could touch 2,000 dollars. In Indian market, it could go up to Rs 50,000 per gm in the futures market. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/sensex-and-nifty-rally-4-after-positive-cues-from-global-markets/articleshow/75021184.cms" data-type="tilCustomLink">Sensex and Nifty rally 4% after positive cues from global markets</a>

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Angel Broking IPO set to open on September 22 — price band fixed at ₹305 to 306

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Angel Broking shares surge 20% as rising awareness among investors turns in favour of the stock broker

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Weak debut for Angel Broking — shares list at 10% discount from the IPO price

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Angel Broking ₹600 crore IPO opens today: Here’s what works for it and what doesn’t

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Angel Broking IPO allotment: Here’s how to check share allotment status

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INTERVIEW: Sharekhan’s new discount broking platform will take no fees for a loss-making trade

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IPO rush this week — CAMS, Chemcon and Angel Broking gear up to hit the market

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Alibaba-backed Paytm gets greenlight from India's market regulator to launch stock broking services

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After Apple, Amazon becomes second tech company to surpass $100 billion in quarterly revenue

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Stock brokers see a record number of customer additions even as markets slump

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Gold, silver rule high on Indian futures trade market

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