All three are positioned as low-cost brokerages. Angel, under one of its plans, charges zero brokerage for delivery-based trades in the cash segment and flat Rs 20 per order for all other segments.
Besides broking, Angel Broking generates revenues from advisory services, margin funding, loans against shares, and distribution of financial products.
It manages Rs 1,325 crore in client assets and over 21.5 million operational broking accounts as of June 30.
ICICI Securities, Edelweiss Financial Services and SBI Capital Markets are the book-running lead managers for the IPO.
will only be the eighth this calendar year.