Anand Rathi Share and Stock Brokers Reports Strong Q2 Performance, Completes IPO
Anand Rathi Share and Stock Brokers Limited reported robust Q2 financial results with revenue from operations at ₹22,708.38 lakhs, up 12.96% QoQ, and profit after tax at ₹2,858.76 lakhs, up 22.33% QoQ. The company successfully completed its IPO, raising ₹74,500 lakhs through a fresh issue of 1,80,10,692 equity shares at ₹414 per share. The shares are now listed on NSE and BSE. Of the IPO proceeds, ₹66,401.85 lakhs have been utilized for long-term working capital requirements, with ₹8,098.15 lakhs remaining unutilized. The company has also taken steps to enhance corporate governance following the listing.
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Anand Rathi Share and Stock Brokers Limited, a prominent player in the Indian financial services sector, has reported strong financial results for the second quarter, alongside the completion of its Initial Public Offering (IPO).
Financial Performance
| Metric (in lakhs rupees) | Q2 | Q1 | QoQ Change |
|---|---|---|---|
| Revenue from Operations | 22,708.38 | 20,101.81 | +12.96% |
| Profit After Tax | 2,858.76 | 2,337.00 | +22.33% |
The company's revenue from operations for Q2 reached ₹22,708.38 lakhs, showing a significant increase from ₹20,101.81 lakhs in Q1, marking a 12.96% growth quarter-over-quarter. Profit after tax also saw a substantial rise, reaching ₹2,858.76 lakhs in Q2 compared to ₹2,337.00 lakhs in the previous quarter, representing a 22.33% increase.
IPO and Listing
Anand Rathi Share and Stock Brokers Limited completed its Initial Public Offering, raising ₹74,500 lakhs through a fresh issue of 1,80,10,692 equity shares at ₹414 per share. The company's shares were listed on both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).
Utilization of IPO Proceeds
Out of the total IPO proceeds of ₹74,500 lakhs, the company has utilized ₹66,401.85 lakhs primarily for long-term working capital requirements. The remaining ₹8,098.15 lakhs are currently unutilized.
Corporate Governance
Following the equity listing, the company's board has taken several steps to enhance corporate governance:
- Reconstitution of the Audit Committee
- Adoption of various corporate policies
Business Segment
Anand Rathi Share and Stock Brokers Limited operates primarily in the broking and related services segment.
Outlook
The strong quarter-over-quarter growth in both revenue and profit after tax indicates a positive trajectory for Anand Rathi Share and Stock Brokers Limited. The completion of the IPO and subsequent listing on major stock exchanges position the company for potential future growth and expansion in the financial services sector.
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