Anand Rathi Share IPO GMP In Focus Ahead Of September 23 Launch; Check IPO Details
The Anand Rathi Share & Stock Brokers IPO will remain open for subscription from September 23 to September 25.
Anand Rathi Share & Stock Brokers Ltd. will launch its initial public offering (IPO) on September 23. A full-service brokerage company, it is part of the Anand Rathi Group, which offers a wide range of financial services.
Ahead of its opening on Tuesday, the grey market premium for the mainboard issue has remained constant for the last few days.
Here a look at the latest grey market premium (GMP) and other details of the Anand Rathi Share IPO including the price band, issue size, lot size and important dates.
Anand Rathi Share IPO GMP Today
The grey market premium (GMP) for the Anand Rathi Share IPO was Rs 24 as of 10.30 a.m. on September 22. Based on the upper end of the price band at Rs 414, the stock is expected to list at around Rs 438 (cap price plus the current GMP), implying a potential gain of about 5.8% per share.
Note: GMP does not represent official data and is based on speculation. GMP data sourced from InvestorGain.
Anand Rathi Share IPO: All You Need To Know
The Anand Rathi Share IPO is a book-built issue worth Rs 745 crore, comprising an entirely fresh issue of 1.8 crore shares.
Anand Rathi Share IPO’s price band has been set between Rs 393 and Rs 414 per share, with a lot size of 36 shares. For retail investors, the minimum investment will be Rs 14,904 for one lot, at the upper end of the price band. Among non-institutional investors, small NIIs (sNII) are required to bid for at least 14 lots, or 504 shares, which amounts to Rs 2,08,656, while big NIIs (bNII) must apply for a minimum of 68 lots, or 2,448 shares, translating to an investment of Rs 10,13,472.
Nuvama Wealth Management Ltd. is the book-running lead manager for the Anand Rathi Share IPO, while MUFG Intime India Pvt. Ltd. has been appointed as registrar for the issue.
Anand Rathi Share IPO: Important Dates
The Anand Rathi Share IPO will close for subscription on September 25. The IPO’s basis of allotment is expected to be finalised on September 26, followed by initiation of refunds to non-allottees on September 29. On the same day, the allotted shares are likely to be credited to successful investors’ demat accounts.
Anand Rathi Share & Stock Brokers Ltd.’s shares are tentatively set to list on the BSE and NSE on September 30.
Anand Rathi Share & Stock Brokers Ltd. Business And Financials
Anand Rathi Share and Stock Brokers Ltd., founded in 1991, operates under the ‘Anand Rathi’ brand. The company provides broking services, margin trading and distribution of financial products. It offers investment options in equities, derivatives, commodities and currency markets to a wide range of clients.
As of March 31, over 84% of the company’s active clients were above 30 years of age. The company has a presence in 290 cities through 90 branches and 1,125 authorised agents. It also serves clients through online platforms, covering Tier 1, Tier 2 and Tier 3 cities.
Use Of Proceeds
Net proceeds from the Anand Rathi Share IPO will be used for specific corporate purposes. A major portion will be allocated to fund long-term working capital requirements. The remaining funds will be allocated for general corporate purposes.
Financials
Anand Rathi Share & Stock Brokers Ltd. reported a 24% increase in revenue and a 34% rise in profit after tax (PAT) for the year ending March 31, compared to the previous fiscal. Total income for the period reached Rs 847 crore, up from Rs 683.26 crore. Profit after tax rose to Rs 103.61 crore from Rs 77.29 crore in the year ending March 31, 2024.
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.
