Anand Rathi Share and Stock Brokers Prepares for Rs 745 Crore IPO

Anand Rathi Share and Stock Brokers is set to raise Rs 745 crore through an IPO. The funds will be used for long-term working capital. The company operates in 333 cities and saw a 46% revenue increase in 2024. The shares will be listed on NSE and BSE.

Anand Rathi Group's brokerage arm, Anand Rathi Share and Stock Brokers, has initiated proceedings to raise Rs 745 crore via an initial public offering (IPO), according to documents filed with SEBI.

This IPO will be a fresh issue of shares up to Rs 745 crore and includes reserved subscriptions for eligible employees as stated in their draft red herring prospectus (DRHP). The offering, being an offer for sale (OFS), means proceeds are slated for the selling shareholder, not the company.

The company may realize Rs 149 crore in a pre-IPO placement, reducing the issue size if successful. IPO funds, estimated at Rs 550 crore, are earmarked for long-term working capital needs and corporate purposes. Anand Rathi serves a diverse clientele and holds operations in 333 cities. Their revenue increased by 46% in 2024, with profits nearly doubling. Shares are planned for listing on NSE and BSE.

(With inputs from agencies.)