Anand Rathi IPO: Price Band Set At Rs 393-414 Per Share, Bidding Opens On Sept. 23

Anand Rathi Share and Stock Brokers Ltd's Initial Public Offering opens for subscription on Tuesday, Sept. 23. The company has set a price band of Rs 393 to Rs 414 per equity share for the public issue.

This will mark company's maiden public issue worth Rs 745 crore, comprising entirely of fresh issue and no offer for sale. The face value of the equity share is Rs 5 each.

Nuvama Wealth Management, DAM Capital Advisors, and Anand Rathi Advisors will manage the Anand Rathi IPO, while MUFG Intime India is the registrar to the issue.

The IPO's bidding date for Anchor investors is Sept. 22. The IPO will close on Sept. 25. The equity shares will be listed on both BSE and NSE.

The IPO share allotment will be finalised by Sept. 26, while the trading in Anand Rathi shares will commence on the bourses with effect from Sept. 30.

The company aims to utilise the net proceeds from the issue towards funding long-term working capital requirements and general corporate purposes.

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Anand Rathi is a multi-faceted financial services provider offering stock broking, research analysis, depository services, mutual fund distribution services, etc.

It is a member of key exchanges such as NSE, BSE, Multi Commodity Exchange, and National Commodity and Derivatives Exchange, serving retail clients and high-net-worth individuals (HNIs) via online, call-and-trade, and offline platforms through over 60 branches, the company said in its RHP.

The company's peers include Geojit Financial Services Ltd., IIFL Capital Service Ltd., Motilal Oswal Financial Services Ltd., and Angel One Ltd.

As of March 31, 2025, the company offers broking and other financial services through network of 90 branches spread across 54 cities in India, a network of 1,125 Authorised Persons (i.e., agents appointed by the company after approval from the relevant stock exchange) spread across 290 cities in India and online and digital platforms, the company said in its RHP.