Angel Broking to raise Rs 150 cr for expansion

Indore, Aug 18: Angel Broking, a leading brokerage company, is planning to raise funds to the tune of Rs 150 crore through private placement for its expansion plans.

Company's Chairman and Managing Director Dinesh Thakkar told mediapersons here today that the company had plans to open 180 branches in the next 2 years. It would also bring initial public offer in 2 years, he said declining to give details.

Mr Thakkar said besides expansion plan Angel was also going to launch new services such as loans against shares and margin funding.

To spread awareness among various classes of investors, Angel had initiated education programme and 40 seminars were organised since March this year.

About 60 more seminars will be organised in southern and northern regions of the country, he added.

UNI