Anand Rathi IPO to open on Sept 23: Check price band, issue size and more

Anand Rathi Group's brokerage arm, Anand Rathi Share and Stock Brokers has fixed a price band of ₹393-414 per share for its maiden public issue worth ₹745 crore. Investors can bid for a minimum of 36 shares in one lot and in multiples thereof.

The Mumbai-based stock broker is set to launch its initial public offering (IPO) for subscription next week on September 23. The issue will close on September 25, while the one-day anchor book will open on September 22.

This is the second company from the financial services group to tap the primary market.

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.

About 50% of the IPO size has been reserved for qualified institutional buyers, 35% for retail investors, and the remaining 15% for non-institutional investors.

About Rs 550 crore of the net IPO proceeds will be utilised mainly for its long-term working capital requirements, and will keep the remaining amount for general corporate purposes.

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.

Catering to a diverse clientele, the company serves retail investors, high-net-worth individuals (HNIs), ultra-HNIs, and institutional clients.

The company's financial performance in the recent past years has been healthy with profit in FY25 rising 34% to Rs 103.6 crore, compared to Rs 77.3 crore in the last year. Revenue in the same fiscal years rose by 24% to Rs 845.7 crore, up from Rs 681.8 crore.

The brokerage firm had refiled its draft red herring prospectus (DRHP) with capital markets regulator SEBI in April this year and secured approval in August. It had initially filed its draft offer document in December 2024.

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.

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.