Anand Rathi Share and Stock Brokers, a prominent Mumbai-based brokerage firm, has set the stage for its initial public offering (IPO) with a price band of ₹393-414 per share. The company aims to raise ₹745 crore through this public issue, which is scheduled to open on September 23 and close on September 25.

IPO Details

The IPO structure consists entirely of fresh shares, with no offer-for-sale component. Investors can participate in the IPO with a minimum lot size of 36 shares. Notably, the company has reserved shares worth ₹10 crore for its employees.

Use of Proceeds

Anand Rathi Share and Stock Brokers has outlined its plans for the IPO proceeds:

• ₹550 crore will be allocated for long-term working capital requirements
• The remaining funds will be used for general corporate purposes

Company Profile

Anand Rathi Share and Stock Brokers operates as a full-service brokerage firm, catering to a diverse clientele including retail investors, High Net Worth Individuals (HNIs), Ultra-HNIs, and institutional clients. The company's extensive network comprises:

• 90 branches
• 1,125 authorized persons

Financial Performance

The company has reported strong financial results in its recent earnings:

IPO Timeline

Key dates for the Anand Rathi Share and Stock Brokers IPO:

• IPO Opening: September 23
• IPO Closing: September 25
• Share Allotment: September 26 (expected)
• Trading Commencement: September 30 (expected)

Investors and market watchers will be closely monitoring this IPO, given the company's established presence in the financial services sector and its recent financial performance. As always, potential investors are advised to carefully review the offer document and consider their financial goals before making an investment decision.

Anand Rathi Share and Stock Brokers, a prominent player in the financial services sector, is gearing up to enter the primary market with its initial public offering (IPO). The company aims to raise ₹745 crore through this fresh issue of shares, marking a significant milestone in its corporate journey.

IPO Details

Key Highlights

• This IPO represents the second company from the Anand Rathi financial services group to go public.
• The company has appointed Nuvama Wealth Management, DAM Capital Advisors, and Anand Rathi Advisors as the book-running lead managers for the offering.

Regulatory Process

Anand Rathi Share and Stock Brokers has navigated the regulatory landscape to bring this IPO to market:

• Initially filed the draft red herring prospectus (DRHP) with SEBI in December
• Refiled the DRHP in April
• Received SEBI approval in August

Group's Track Record

The IPO follows a successful public listing by another group company:

• Anand Rathi Wealth, the group's wealth management arm, went public in December 2021
• Initial listing price: ₹550.00 per share
• Current trading price: ₹3,021.00
• Performance since debut: Over 400% surge in share price

Market Implications

The upcoming IPO of Anand Rathi Share and Stock Brokers is likely to draw significant attention from investors, given the impressive performance of its sister company in the public markets. The substantial allocation of funds for working capital suggests that the company is positioning itself for growth and expansion in the competitive financial services sector.

Investors and market watchers will be keenly observing this IPO, as it represents an opportunity to gain exposure to another entity from the Anand Rathi group, which has already demonstrated its ability to create shareholder value through its wealth management arm.

As the IPO date approaches, more details are expected to emerge regarding the price band, subscription dates, and other critical information for potential investors. Stakeholders in the financial services industry will be monitoring this development closely, as it could potentially impact the competitive landscape of the broking and financial advisory services market in India.