Anand Rathi Share and Stock Brokers to float IPO on Sep 23; sets price band at Rs 393-414/share

New Delhi, Sep 18 (PTI) Anand Rathi Group's brokerage arm, Anand Rathi Share and Stock Brokers, on Thursday fixed a price band of Rs 393 to Rs 414 per share for its upcoming Rs 745-crore initial public offering (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 worth Rs 745 crore 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, along with its online and digital platforms, enables it to service its clients across Tier-I, Tier-II, Tier-III and other cities.

The company's revenue from operations rose to Rs 845.70 crore in FY 2025, up from Rs 467.83 crore in FY 2023, 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.

In terms of issue allocation, 50 per cent of the IPO is reserved for qualified institutional buyers (QIBs), 35 per cent for retail investors, and the remaining 15 per cent for non-institutional investors. The minimum lot size for application is 36 shares and in multiples thereafter.

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