Anand Rathi to launch Rs 745 cr IPO on Sep 23, price band set at Rs 393-414 per share

Anand Rathi Share and Stock Brokers IPO news

Anand Rathi Share and Stock Brokers is set to launch its maiden public issue worth Rs 745 crore for subscription next week on September 23, with price band of Rs 393-414 per share.

The IPO comprises of entirely fresh issue with no offer-for-sale component, while there is reservation of Rs 10 crore worth shares in the offer for its employees.

The Mumbai-based stock broker will close the IPO on September 25, while the one-day anchor book will open on September 22.

The IPO share allotment will be finalised by September 26, while the trading in Anand Rathi shares will commence on the bourses with effect from September 30.

Half of the public issue size is reserved for qualified institutional buyers, 35 percent for retail investors, and the remainder 15 percent for non-institutional investors.

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Anand Rathi Share and Stock Brokers, which valued at Rs 2,600 crore, is a full-service brokerage house, providing broking services, margin trading facility and distribution of financial products under the brand Anand Rathi, through a network of 90 branches, 1,125 authorised persons in India, and online and digital platforms.

The company plans to utilise Rs 550 crore of the net IPO proceeds mainly for its long-term working capital requirements, and will keep the remaining amount for general corporate purposes.

Its financial performance in the recent past years has been healthy with profit in FY25 growing 34 percent to Rs 103.6 crore against Rs 77.3 crore in previous year. Revenue in the same fiscal years increased by 24 percent to Rs 845.7 crore, up from Rs 681.8 crore.

Anand Rathi has received approval from the SEBI for its IPO in August this year, while the draft papers for the IPO were filed with the regulator on March 31 this year.

Nuvama Wealth Management, DAM Capital Advisors, and Anand Rathi Advisors will manage the Anand Rathi IPO, while MUFG Intime India is the registrar to the issue.