Anand Rathi Share and Stock Brokers refiles IPO papers to raise Rs 745 crore

Anand Rathi Share and Stock Brokers IPO

Mumbai-based brokerage house Anand Rathi Share and Stock Brokers has refiled preliminary papers with the SEBI to raise Rs 745 crore via initial public offering (IPO). The IPO comprises of solely fresh issue with no offer-for-sale component, which means the entire issue proceeds will go to the company.

The company intends to utilise Rs 550 crore out of IPO proceeds mainly for long-term working capital requirements, and the remaining part will be used for general corporate purposes.

Earlier, it had filed draft papers with the capital markets regulator on December 14, 2024, however, in January 2025, the SEBI returned those IPO papers.

Anand Rathi Share may consider a pre-IPO placement amounting to Rs 149 crore. If it successfully closes this pre-IPO round, the fresh issue size will be reduced to the extent of such amount.

More than 30-year-old brokerage firm offers broking and other financial services through its network of 90 branches spread across 54 cities in India; network of 1,123 authorised persons spread across 333 cities in India; and online and digital platforms.

The 100 percent owned company by promoter Anand Rathi Financial Services competes with listed peers like Motilal Oswal Financial Services, IIFL Capital Services, Geojit Financial Services, ICICI Securities, and Angel One.

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The financial performance of the company has been healthy in the past years. Anand Rathi recorded profit at Rs 77.3 crore for the fiscal 2024, growing 105 percent, and revenue at Rs 682 crore, increasing 45.7 percent over the previous fiscal. Profit for six months period ended September 2024 stood at Rs 63.6 crore on revenue of Rs 441.7 crore.

Nuvama Wealth Management, DAM Capital Advisors, and Anand Rathi Advisors will act as merchant bankers for the issue.