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Anand Rathi Brokerage Group’s company Anand Rathi Share and Stock Brokers Limited will soon bring its initial public offering (IPO). The company on Tuesday filed IPO papers near the Security Exchange Board of India i.e. SEBI. The issue size of this IPO is Rs 745 crore.
Earlier in December 2024, Draft Red Herring Prospectus (DRHP) was filed near SEBI. The company will issue new equity shares worth Rs 745 crore in the IPO. The face value of the issue is Rs 5 per share. The company provides brokerage service to retail, HNI and institutional investors.
35% of the issue reserved for retail investors
For retail investors 35% of the issue, the Reserve Company has placed a reserve for qualified institutional buyers (QIB). Apart from this, 35% share is reserved for non-institutional investors (NII). The company shares will be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
The company has a network of 1,123 agents in 333 cities.
Company is also considering raising money from pre-IPO
The company is considering raising Rs 149 crore through pre-IPO placements before IPO. If this happens, the amount raised in the pre-IPO will be reduced by the new issue or part of the IPO.
More than 1,123 agents in 333 cities
Anand Rathi Share and Stock Brokers Limited offers ‘Anand Rathi’ brand under broking, margin trading, and supply services of financial products. These service are given to retail investors, HNI, Ultra-HNI and institutional investors.
The company has a network of 90 branches in 54 cities as well as 1,123 agents in 333 cities. Along with this, Tier-1, Tier-2, and Tier-3 provide service through online platforms in cities.
Company’s profit increased by 104.77% in a year
The company has a net profit (PAT) of Rs 77.29 crore in FY24. This FY23 was Rs 37.74 crore. The company’s profits have increased by 104.77%. The company’s operational revenue was Rs 681.79 crore in FY24 so far. It was Rs 467.83 crore in FY23. It has increased by 45.74%.
At the same time, the company generated a revenue of Rs 441.72 crore and a net profit of Rs 63.66 crore in the first 6 months of September 2024.
What is IPO?
When a company releases its shares for the common people for the first time, it is called Initial Public Offering i.e. IPO. The company needs money to increase business. In such a situation, instead of taking loans from the market, the company raises money by selling some shares to public or issuing new share. For this, the company brings IPO.
