Anand Rathi Share and Stock Brokers refiles DRHP with SEBI for ₹745 crore IPO

Anand Rathi Share and Stock Brokers, the brokerage firm of Anand Rathi Group, has once again filed its DRHP (Draft Red Herring Prospectus) to SEBI (Securities and Exchange Board of India) to raise ₹745 crore through IPO. Previously, the company had filed a DRHP on December 14, 2024 which was rejected by the SEBI. 

IPO Structure and Details

• The stock is proposed to be listed on both NSE and BSE. 
• The proposed IPO comprises a fresh equity issue of ₹745 crores with a face value of ₹2 for each share. 
• The utilisation of net proceeds from the issue is as follows -
• QIBs: Up to 50% of the issue size 
• Non-Institutional Bidders: Up to 15% of the issue
• Retail Investors: Up to 35% of the issue
• Nuvama Wealth Management Limited, DAM Capital Advisors Limited, and Anand Rathi Advisors Limited are the Book Running Lead Managers, while Link Intime India Private Limited is the registrar for the issue. 
• The company might consider a pre-IPO placement for up to ₹149 crores before filing the Red Herring Prospectus. If the pre-IPO placement is undertaken, the amount raised will be deducted from the fresh issue portion. 

Utilisation of Funds

The IPO proceeds from the fresh issue will be used to:

• Fund long-term working capital requirements 
• General corporate purposes.

Financial Performance

For the year ended March 31, 2024, the company reported revenue from operations of 681.788 crores, up by approximately 45.6% from 467.826 crores, for the year ended March 31, 2023.

Company Profile 

Anand Rathi Share and Stock Brokers is a full-service brokerage company with over 3 decades in the industry. They offer broking services, algorithmic trading services, margin trading facility and distribution of financial products through a network of 90 branches spread across 54 cities in India. 

During Fiscal Year 2024, the company had the highest average revenue per client amongst peers. 

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