Anand Rathi Shares & Stockbrokers, the brokerage Group, files DRHP with SEBI for ₹745 crore Upcoming IPO
The amount of Rs 550 crore raised from the fresh issue will be used for the long-term working capital requirements of the company and general corporate purposes.
Upcoming IPO: Anand Rathi Shares and Stockbrokers, the brokerage arm of Anand Rathi, has filed a draft red herring prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI) for an initial public offering (IPO). The IPO is entirely a fresh issue of shares aggregating up to ₹745 crore.
The Company, in consultation with BRLMS, may consider a pre-IPO placement of specified securities for an aggregate amount of up to ₹149 crore. Nuvama Wealth Management Limited, DAM Capital Advisors Limited and Anand Rathi Advisors Limited are the book-running lead managers, and Link Intime India Private Limited is the registrar to the issue.
The issue is being offered through a book-building process with up to 50% of the net issue allocated to qualified institutional buyers, and at least 15% and 35% to non-institutional and retail individual investors, respectively. equity shares are proposed to be listed on both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).
Financials
The company’s operating revenue grew by 45.74% to ₹681.79 crore in FY 2024 from ₹467.83 crore in FY 2023. This growth was led by higher interest income and an increase in fee and commission income. Profit after tax also witnessed a significant growth of 104.77%, rising from ₹37.74 crore in FY 2023 to ₹77.29 crore in FY 2024.For the six months ended September 30, 2024, the company reported revenue from operations of ₹441.72 crore and a profit after tax of ₹63.66 crore, as per the DRHP.
About The Company
Anand Rathi Share and Stockbrokers Limited provides a wide range of financial services, including broking, margin trading, and distribution of financial products, under the brand name ‘Anand Rathi.’ Catering to a diverse clientele, the company serves retail investors, high-net-worth individuals (HNIs), ultra-HNIs, and institutional clients.
In fiscal 2024, the brokerage firm recorded the highest average revenue per client (ARPC) within its peer group, based on broking revenue over NSE Active Clients for the period, as per the company’s DRHP.
The company’s investment offerings cover a wide range of asset classes, including equities, derivatives, commodities and currency markets. While its client base is spread across various age groups, 146,029 of its active clients – representing 84.86% of the total – were above 30 years of age as of September 30, 2024.
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