Ahead of IPO, Anand Rathi Share and Stock Brokers collects Rs 220 cr from anchor investors

New Delhi, Sep 22 (PTI) Anand Rathi Group's brokerage arm Anand Rathi Share and Stock Brokers on Monday announced raising a little over Rs 220 crore from anchor investors, a day before its initial public offering (IPO) opening for subscription.

The institutions that participated in the anchor round included HDFC Mutual Fund (MF), Quant MF, Kotak MF, Aditya Birla Sun Life MF, SBI Life Insurance Company and Kotak Mahindra Life Insurance Company, according to a circular uploaded on the BSE's website.

As per the circular, the brokerage firm has allocated 53.26 lakh equity shares to 15 funds at Rs 414 apiece. This aggregates the transaction size to Rs 229.5 crore.

The shares will be available for subscription at a price band of Rs 393-414 per share for the company's Rs 745-crore IPO. The company's maiden public offering is scheduled to open for subscription on September 23 and conclude on September 25.

The broking firm's IPO is entirely a fresh issuance of shares with no offer for sale (OFS) component.

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.

Anand Rathi Share and Stock Brokers Ltd provides a wide range of financial services, including broking, margin trading, and distribution of financial products, under the brand name 'Anand Rathi'. Catering to a diverse clientele, the company serves retail investors, high-net-worth individuals (HNIs), ultra-HNIs, and institutional clients.

As of March 2025, Anand Rathi Share and Stock Brokers operates through a robust network of 90 branches across 54 cities in India, supported by 1,125 authorised persons (agents approved by relevant stock exchanges) in 290 cities.

The company's multi-channel presence through its pan-India branches and network of authorised persons and its online and digital platforms enables it to service its clients across tier-1, tier-2, tier-3 and other cities.

The company's revenue from operations rose to Rs 845.70 crore in FY25, up from Rs 467.83 crore in FY23, reflecting a CAGR (compound annual growth rate) of 34.45 per cent. During the same period, profit after tax increased from Rs 37.75 crore to Rs 103.61 crore, registering a CAGR of 65.68 per cent.

Nuvama Wealth Management, DAM Capital Advisors, and Anand Rathi Advisors are the book-running lead managers. PTI SP TRB TRB