NewsIPOAnand Rathi Share & Stock Brokers Launches Rs 745 Crore IPO with Price Band of Rs 393-414Anand Rathi Share & Stock Brokers Launches Rs 745 Crore IPO with Price Band of Rs 393-414
Anand Rathi Share & Stock Brokers Ltd. is launching an IPO to raise Rs 745 crore, with a price band of Rs 393-414 per share. The issue opens on September 23 and closes on September 25. The company, a multi-faceted financial services provider, plans to use Rs 550 crore for long-term working capital. With over 90 branches across 54 cities, the firm has shown strong financial growth, with revenue increasing from Rs 467.83 crore to Rs 845.70 crore and profit after tax rising from Rs 37.75 crore to Rs 103.61 crore in the latest period.
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Anand Rathi Share & Stock Brokers Ltd., a multi-faceted financial services provider, is set to enter the public market with its Initial Public Offering (IPO) aimed at raising Rs 745 crore. The company has announced a price band of Rs 393-414 per share for its upcoming issue.
IPO Details
- Issue Opens: September 23
- Issue Closes: September 25
- Price Band: Rs 393-414 per share
- Face Value: Rs 5 per share
- Minimum Bid: 36 shares
- Minimum Investment for Retail Investors: Rs 14,904
The IPO consists entirely of a fresh issue of shares worth Rs 745 crore, with no offer for sale component.
Company Profile
Anand Rathi Share & Stock Brokers Ltd. is a comprehensive financial services provider offering:
- Stock broking
- Research analysis
- Depository services
The company has established a strong presence across India with:
- Over 90 branches spanning 54 cities
- 1,125 authorized persons across 290 cities
Fund Utilization
The company plans to utilize Rs 550 crore from the IPO proceeds to fund its long-term working capital requirements.
Financial Performance
Anand Rathi Share & Stock Brokers has demonstrated strong financial growth:
| Metric | Previous Period | Latest Period |
|---|---|---|
| Revenue | Rs 467.83 crore | Rs 845.70 crore |
| Profit After Tax | Rs 37.75 crore | Rs 103.61 crore |
IPO Timeline
- Allotment Date: September 26
- Listing Date: September 30
Investors and market watchers will be keenly observing 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 company's prospectus and consult with financial advisors before making investment decisions.
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