Anand Rathi IPO: Price band set at ₹393-414 per share; check key dates, issue details, more

Anand Rathi IPO price band: The initial public offering (IPO) of Anand Rathi Share and Stock Brokers Ltd has set its price band in the range of ₹393 to ₹414 per equity share of the face value of ₹5. The Anand Rathi IPO date of subscription is scheduled for Tuesday, September 23 and will close on Thursday, September 25. The allocation to anchor investors for the Anand Rathi IPO is scheduled to take place on Monday, September 22.

The floor price is 78.60 times the face value of the equity shares and the cap price is 82.80 times the face value of the equity shares. The Anand Rathi IPO lot size is 36 equity shares and in multiples of 36 equity shares thereafter.

Anand Rathi IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors. A discount of ₹25 per equity share is being offered to the eligible employees bidding in the employee reservation portion. The employee portion has been reserved equity shares aggregating up to ₹10 crore.

Tentatively, Anand Rathi IPO basis of allotment of shares will be finalised on Friday, September 26 and the company will initiate refunds on Monday, September 29 while the shares will be credited to the demat account of allottees on the same day following refund. Anand Rathi share price is likely to be listed on BSE and NSE on Tuesday, September 30.

Anand Rathi IPO details

The Anand Rathi IPO consists solely of a fresh issue, with no components for offer-for-sale, and includes a reservation of shares worth ₹10 crore for its employees.

The company intends to allocate ₹550 crore from the net IPO proceeds primarily to meet its long-term working capital needs, with the remaining funds reserved for general corporate purposes.

The Anand Rathi IPO will be managed by Nuvama Wealth Management, DAM Capital Advisors, and Anand Rathi Advisors, while MUFG Intime India will serve as the issue's registrar.

Company details

Anand Rathi Share and Stock Brokers, valued at ₹2,600 crore, operates as a full-service brokerage firm that offers broking services, margin trading, and the distribution of financial products under the Anand Rathi brand. This is achieved through a network comprising 90 branches, 1,125 authorized representatives across India, as well as online and digital platforms.

The company's financial performance in the past few years has been solid, with profits in FY25 increasing by 34 percent to ₹103.6 crore compared to ₹77.3 crore in the prior year. During the same fiscal period, revenue grew by 24 percent, reaching ₹845.7 crore, up from ₹681.8 crore.

Anand Rathi has obtained approval from SEBI for its IPO this August, having filed the draft documents with the regulator on March 31 of this year.

As per the red herring prospectus (RHP), the listed peers are Motilal Oswal Financial Services (with a P/E of 20.91), IIFL Capital Services (with a P/E of 13.49), Geojit Financial Services (with a P/E of 11.53), and Angel One (with a P/E of 17.42).

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