Anand Rathi Share and Stock Brokers Gears Up for Rs 745 Crore IPO

Anand Rathi Share and Stock Brokers has filed for an IPO aiming to raise Rs 745 crore. The funds will primarily support the company's long-term working capital needs. A possible Rs 149 crore pre-IPO placement could reduce the IPO's size. Revenue and profits have shown impressive growth.

Anand Rathi Share and Stock Brokers, under the esteemed Anand Rathi Group, has approached Sebi with draft papers to launch an initial public offering (IPO) valued at Rs 745 crore. The IPO will introduce fresh shares into the market.

According to the draft red herring prospectus, Rs 550 crore of the capital raised will bolster the company's long-term capital requirements and general corporate purposes. Provisions for employee reservations are included in the offer.

If a pre-IPO placement of Rs 149 crore is finalized, the IPO size will be adjusted accordingly. The company, recognized for broking and financial product distribution under the brand name 'Anand Rathi,' has shown strong financial growth, with operations revenue surging by 46% in fiscal 2024.

(With inputs from agencies.)