Anand Rathi Shares List At 4% Premium After ₹745 Crore IPO

Anand Rathi Share & Stock Brokers IPO got off to a decent start with shares listing at a 4% premium on the benchmark indices. The stock began trading at ₹432 on the NSE, compared to the initial public offering (IPO) price of ₹414 per share. It opened at ₹432.10 on the BSE.

At the time of writing, Anand Rathi Shares are trading at ₹441 on the NSE and ₹443 on the BSE.

IPO Details

The IPO, which opened for subscription from September 23 to 25, raised around ₹745 crore entirely through a fresh issue of 1.80 crore equity shares, priced in the band of ₹393 to ₹414 per share.

The offering saw a strong demand with an overall subscription of 21.8 times. Qualified Institutional Buyers (QIBs) led the subscription, oversubscribing their quota by 46.3 times, followed by Non-Institutional Investors (NIIs) at 30.2 times, and the retail segment at 5.1 times. 

Grey Market Premium

The IPO's grey market premium (GMP) was around ₹31 per share over the upper price band of ₹414, implying an expected listing price of about ₹445 per share and listing gains of about 7.5%. 

Company Details

Anand Rathi is known for full-service broking across equity, derivatives, bonds, and investment products. It operates a strong pan-India network comprising 90 branches and over 1,100 authorized agents, serving 290 cities, blending technology with personalized service.

The company plans to utilize approximately ₹550 crore of the IPO proceeds for long-term working capital needs, and the rest for general corporate purposes.

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