Anand Rathi Share and Stock Brokers Limited, Anand Rathi group’s brokerage rrm and one of the key players in India’s financial services sector, is set to go public with a Rs 745 crore Initial Public Offering (IPO). The company has filed its Draft Red Herring Prospectus (DRHP) with capital markets regulator, Securities and Exchange Board of India (SEBI).
What’s on Offer?
Anand Rathi Share and Stock Brokers is offering a fresh issue of equity shares worth Rs 745 crore, with a face value of Rs 5 each.
The offer includes a reservation for eligible employees to participate. The company has also left the door open for a potential Pre-IPO placement, with up to Rs 149 crore worth of securities, which would reduce the fresh issue amount accordingly.
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The IPO will be conducted through a book-building process, with 50 per cent of the net issue reserved for qualified institutional buyers (QIBs). Retail investors and non-institutional investors will be allotted 35 per cent and 15 per cent of the issue, respectively.
Fund utilisation
The proceeds from the fresh issue, particularly Rs 550 crore, will be used to enhance the company’s working capital and fund its long-term growth strategy and general corporate purposes.
About the company
With over 30 years in the industry, Anand Rathi Share and Stock Brokers offers a wide range of financial services, ranging from broking and margin trading to distributing investment products.
Talking of the online presence, the company has a network of 90 branches across 54 cities in India and over 1,100 Authorized Persons (APs) who support operations in more than 300 cities.
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Registrars and Lead managers
The book-running lead managers include Nuvama Wealth Management, DAM Capital Advisors, and Anand Rathi Advisors and Link Intime India is the registrar to the issue.
The equity shares are proposed to be listed on the National Stock Exchange of India Limited and BSE Limited.
Financial Highlights
In Fiscal 2024, the company reported a 45.74 per cent rise in its revenue from operations,
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