Anand Rathi Share and Stock Brokers IPO GMP: What Does Grey Market Trend Signal On September 26?
The unlisted shares of Anand Rathi Share have been trading at a premium in the grey market, suggesting potential listing gain for investors of up to 10%.
The initial public offering (IPO) of Anand Rathi Share & Stock Brokers Ltd., which opened for subscription on Tuesday, September 23, concluded its subscription process on September 25.
The IPO was booked 20.66 times on Thursday. Investors bid for 27,60,82,128 shares against the 1,33,63,342 on offer.
Amid the buzz, the unlisted shares have been trading at a premium in the grey market (GMP), suggesting potential listing gains for investors.
As the allotment status for Anand Rathi Share IPO gets finalised today, the GMP for mainboard issue remains in focus ahead of listing next week.
Anand Rathi Share IPO GMP Today
The grey market premium (GMP) for Anand Rathi Share IPO was Rs 39, as of 8:00 a.m. on September 26. This means the unlisted shares of Anand Rathi Share and Stock Brokers were trading at Rs 453 per share in the private market. Investors who bid for the public issue can expect a potential gain of up to 10% when the stock debuts on the market next week.
The highest GMP recorded for the IPO was Rs 45 when the IPO opened for subscription on Tuesday.
Note: GMP does not represent official data and is based on speculation. GMP data sourced from InvestorGain.
Anand Rathi Share & Stock Brokers IPO Details
The Anand Rathi Share IPO is a book-built issue of Rs 745 crore, consisting entirely of a fresh issue of 1.8 crore shares.
The price band for the IPO has been set between Rs 393 and Rs 414 per share.
The lot size for an application is 36. The minimum amount of investment required by a retail investor is Rs 14,904.
The mainboard issue was fully subscribed on Day 2 after receiving a muted response from investors on Day 1.
Nuvama Wealth Management Ltd. is the book-running lead manager, while MUFG Intime India Pvt. Ltd. is the registrar for the issue.
Anand Rathi Share and Stock Brokers Ltd., incorporated in 1991, is a brokerage firm. The company provides broking services, margin trading and financial product distribution under the ‘Anand Rathi’ brand, helping clients invest in equities, derivatives, commodities and currency markets.
Anand Rathi Share & Stock Brokers IPO Listing Date
Shares of Anand Rathi Share & Stock Brokers are tentatively slated to list on the BSE and NSE on Tuesday, September 30.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
