1. Angel Broking files DRHP for IPO to raise up to Rupees 600 crore.

MUMBAI: Retail broking firm Angel Broking filed draft papers with the Securities and Exchange
Board of India on Wednesday for an IPO worth up to Rupees600 crore. The IPO comprises a fresh
issue of shares aggregating up to Rupees300 crore and an offer for sale of shares worth up to
Rupees300 crore.

Promoter Ashok Thakkar will shares aggregating up to Rupees20.8 crore and World Bank
arm International Finance Corporation will sell shares aggregating up to Rupees120 crore as part
of the offer for sale.Proceeds from the IPO will be used for meeting working capital requirements
and for general corporate purposes. ICICI Securities, Edelweiss Financial Services and SBI
Capital Markets are the book running lead managers of the IPO. The shares will be listed on the
BSE and the NSE.

July this year. The company has a pan India presence across 1,800 cities and towns as of June.
It managed 11,302.31 crore in client assets and over 1.11 million active broking accounts as
of June.

2. Angel Broking is one of the largest independent full-service retail broking firm in
India in terms of active clients on NSE as of July this year.

3. Sebi imposes Rs 25 lakh fine on Angel Broking

The order came after the Sebi found "serious lapses" by them in terms of non-compliance
with stock broker regulations.Sebi had conducted an inspection of the books of Ramnani on
September 30, 2013, to check whether the entity violated any securities law. The period was
covered from April 2012 to March 2013.During inspection, it was also found that Angel
Broking had allowed Ramnani who was not having necessary qualification to operate F&O
trading terminal and had wrongly uploaded certificates of a third person into
qualification/records of Ramnani.

The latter had executed trades in F&O segment, without having necessary NCFM (NSE
Certification in Financial Markets) qualifications in derivative market segment.

In the 26-page order, Sebi's Adjudicating officer Rachna Anand said the "serious foul play of
the stock broker (Angel Broking)" cannot be ignored as it is the main intermediary for
carrying out the transactions on behalf of the clients and is responsible for the acts of the
sub-broker.Besides, the stock broker is primarily liable to ensure the requisite NCFM
qualifications are there for the person who is being given trading terminal as authorized
person, the order noted.

"Undoubtedly, it is the duty of the stock broker not to allow such practice of wrongly using/
wrongly uploading certificates of third person(s) in favour of the authorised person and allow
the authorised person to operate the trading terminal without having the required NCFM
certification," it said."I am of the view that besides the fault of noticee no 1 (Ramnani), there
was more serious deliberate lapse/ irregularity on the part of stock broker/noticee no 2 (Angel
Broking). Hence, noticee no 2 deserves imposition of higher monetary penalty as compared to
noticee no 1," Anand said.There was no immediate comment from Angel Broking on the
order.
The adjudicating officer also said that violation of circulars issued by Sebi to the
intermediaries, poses significant risk to the orderly functioning of the securities market.