Anand Rathi Share has opened the bidding for IPO subscription on September 23 and closes on September 25. The IPO aims to raise Rs 745 crore through 1.80 crore fresh shares. The company set the issue price between Rs 393-414 per share. If you are considering applying for this IPO, remember to check these key details about the IPO.
Anand Rathi Share IPO: GMP trend
The last updated GMP trend indicates that the IPO may list on a muted note. In the grey market, the company’s shares were fetching a GMP of 7.5%, which has cooled down from 17%, which it was attracting on September 18.
Anand Rathi Share IPO: Allotment and listing
Anand Rathi Share IPO’s allotment is expected to be finalised on September 26. The shares are likely to be listed on exchanges BSE and NSE on September 30, as per the tentative schedule.
Anand Rathi Share IPO: Lot size
A retail application needs to bid for a minimum of 36 shares, amounting to Rs 14,904. The lot size investment for a small NII is 14 lots of 504 shares, totalling Rs 2 lakh, and for a big NII, it is 68 lots of 2,448 shares, aggregating to Rs 10 lakh.
Anand Rathi Share IPO: BRLM and registrar
Nuvama Wealth Management is the book-running lead manager for the IPO, and MUFG Intime India is working as the registrar of the issue.
About Anad Rathi Share and Stock Brokers
Anand Rathi Share and Stock Brokers is a full-service brokerage house that provides a margin trading facility, distribution of financial products under the brand ‘Anand Rathi’ to a diverse set of clients across retail, high net worth individuals, ultra-high net worth individuals, and institutions, along with a stock broking service.
The company generates the majority of its revenue from operations through its broking segment, which accounts for approximately 60% of total revenue. Non-broking services, including margin trading facilities and the distribution of investment products, contribute around 23%, while the remaining 17% comes from other operating revenue.
Anand Rathi Share IPO: Expert take
Let’s now take a look at what analysts make of the offer and if they recommend subscribing to the offer-
Deven Choksey Research has a Neutral rating on the offer. This is because, “on comparing the financial performance and valuation of the Company with the peers, we believe the issue is fully priced in. We believe the company will perform well, along with other brokers, led by increasing financialisation and higher retail participation trends in India,” they added.
They added that, led by digital innovation with traditional client servicing strengths, the company has reinforced its competitive strength in the Indian broking industry.The company has reported revenue growth of 34.5% and net profit growth of 65.7% annually over FY23-FY25.