Anand Rathi Secures Rs 220 Crore from Anchor Investors as IPO Launches
Anand Rathi Share & Stock Brokers Ltd. has raised Rs 220 crore from anchor investors for its IPO, allocating 53.2 lakh shares at Rs 414 each. The company aims to raise Rs 745 crore through fresh share issuance. Major investors include HDFC Mutual Fund, Kotak Small Cap Fund, and SBI Life Insurance. The IPO price band is set at Rs 393-414 per share, with a minimum investment of Rs 14,904 for retail investors. Funds will be used for working capital and corporate purposes. The company's financials show significant growth, with revenue increasing from Rs 467.83 crore to Rs 845.70 crore between FY2023 and FY2025.
*this image is generated using AI for illustrative purposes only.
Anand Rathi Share & Stock Brokers Ltd. has kicked off its initial public offering (IPO) with a strong start, securing Rs 220 crore from anchor investors ahead of its public launch. The company, set to raise Rs 745 crore through fresh share issuance, has attracted significant interest from institutional investors.
Anchor Investment Details
The company successfully allotted 53.2 lakh shares to 15 anchor investors at Rs 414 per share, which is at the upper end of the price band set for the IPO. Notable investors participating in the anchor round include:
- HDFC Mutual Fund
- Kotak Small Cap Fund
- Quant Mutual Fund
- Aditya Birla Sun Life Trustee
- SBI Life Insurance
- Singularity
Each of these major investors received an allocation of 9.11% of the anchor portion, amounting to Rs 20 crore per investor.
IPO Highlights
- Price Band: Rs 393-414 per share
- Total Issue Size: Rs 745 crore
- Offer Type: Fresh share issuance
- Minimum Investment for Retail Investors: Rs 14,904 for 36 shares
- Subscription Period: Closes on Thursday
- Listing: Planned on both BSE and NSE
Utilization of Funds
Anand Rathi plans to use the IPO proceeds as follows:
- Rs 550 crore for long-term working capital requirements
- The remainder for general corporate purposes
Financial Performance
The company has shown strong financial growth:
| Fiscal Year | Revenue from Operations | Profit After Tax |
|---|---|---|
| 2022 | Rs 845.70 crore | Rs 103.61 crore |
| 2023 | Rs 467.83 crore | Rs 37.75 crore |
This represents a significant increase in both revenue and profitability over the two-year period.
The successful anchor book building and the company's robust financial performance indicate strong investor interest in Anand Rathi's public offering.
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