Anand Rathi Share and Stock Brokers Set to Launch ₹745 Crore IPO
Anand Rathi Share and Stock Brokers is planning an IPO to raise ₹745 crore through a fresh issue of shares. The company intends to use ₹550 crore for long-term working capital requirements. This marks the second public offering from the Anand Rathi financial services group. The company has appointed Nuvama Wealth Management, DAM Capital Advisors, and Anand Rathi Advisors as lead managers. The IPO received SEBI approval in August after initial filing in December and refiling in April. Notably, Anand Rathi Wealth, the group's wealth management arm, has seen its share price surge over 400% since its December 2021 listing.
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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
| Item | Detail |
|---|---|
| Offering Size | ₹745.00 crore |
| Issue Type | 100% fresh issue of shares |
| Primary Use of Proceeds | ₹550.00 crore allocated for long-term working capital requirements |
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.
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