Anand Rathi's IPO Set for Grand Re-entry: Raising Rs 745 Crore

Anand Rathi Group's brokerage arm re-files IPO papers for a Rs 745 crore offering, entirely a new issue. The funds aim to support working capital and corporate purposes. With a robust network and diverse clientele, the company shows significant growth, planning to list shares on major Indian exchanges.

Anand Rathi Share and Stock Brokers, the brokerage subsidiary of Anand Rathi Group, has opted to re-file preliminary papers with India's market watchdog, Sebi, for a Rs 745-crore IPO.

Previously submitted in December, the original draft was returned by Sebi in January. The new filing delineates a complete new issue of shares worth Rs 745 crore, alongside a pre-IPO placement proposal of Rs 149 crore, potentially altering the final issue size.

The IPO proceeds are earmarked for long-term working capital and general corporate needs. With a broad clientele base and an extensive network of 90 branches across 54 cities, Anand Rathi exhibits a rising financial trajectory, with plans to list on India's major exchanges.

(With inputs from agencies.)