Angel Broking diluting stake to PE investors

The trend is catching on. Most of the Indian stock broking players are reducing their dependence on pure broking services to ofeering value-added services.

After Motilal Oswal, Edelweiss, India Infoline, its now Angel Broking which is in talks to sell 20% of its stake to Private Equity investors such as Lehman Brothers, Warburg Pincus and Carlyle Group. Angel intends to raise Rs.200 crore valuing it at Rs.1000 crore.

Angel Broking currently has a 3% market share and intends to scale up its business by opening new branches and launching new products. [via]