Anand Rathi Share & Stock Brokers Ltd. has raised Rs 220 crore from anchor investors on Monday, ahead of its initial public offering. The company allotted 53.2 lakh shares at Rs 414 apiece to 15 anchor investors.
HDFC Mutual Fund, Kotak Small Cap Fund, Quant Mutual Fund, Aditya Birla Sun Life Trustee Pvt., SBI Life Insurance and Madhusudhan Kela-led Singularity got the highest allocation of 9.11%.
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These six domestic mutual funds applied through six schemes, the stockbroker said in an exchange filing on Monday. They have collectively netted 43.23% of the anchor portion. Each of them were allocated shares worth Rs 20 crore each.
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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 company will launch its initial public offering on Tuesday to raise Rs 745 crore through fresh issue of shares. The price band for the IPO is set between Rs 393 and Rs 414 per share.
To participate in the IPO, retail investors need to bid for a single lot size of 36 shares, requiring an investment of Rs 14,904, small non-institutional investors need to bid for 14 lots, amounting to an investment of Rs 2.09 lakh. Big NIIs can participate in the IPO by bidding for a minimum of 67 lots. It will lead to an investment of Rs 10.13 lakh.
The offer, which concludes on Thursday, is set to list on the BSE and the National Stock Exchange.
Proceeds of the IPO to the tune of Rs 550 crore would be allocated to fund the company's long-term working capital requirements, and a portion would be used for general corporate purposes.
The company's revenue from operations rose to Rs 845.70 crore in financial year 2025, up from Rs 467.83 crore in fiscal 2023. During the same period, profit after tax increased from Rs 37.75 crore to Rs 103.61 crore.
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