Anand Rathi Group’s Brokerage Arm, Anand Rathi Share and Stock Brokers Ltd., on Tuesday re-filed its preliminary papers with the capital markets regulator SEBI to raise funds via an initial public offering. The public offer will include only fresh issue of shares worth Rs 745 crore.
Previously, the company had filed its DRHP in December 2024. However, SEBI returned the draft papers in January.
The equity shares are proposed to be listed on the National Stock Exchange of India Ltd and BSE Ltd. The company, in consultation with the BRLMS, may consider an issue of equity shares aggregating up to Rs 149 crore as pre-IPO placement. If the pre-IPO placement is completed, the amount raised under the pre-IPO placement will be reduced from the fresh issue.
Nuvama Wealth Management Ltd., DAM Capital Advisors Ltd., and Anand Rathi Advisors Ltd. are the book-running lead managers for the issue and MUFG Intime India Pvt. will be the registrar of the issue.
The proceeds from the fresh issue, amounting to the extent of Rs 550 crore will be used to fund its long-term working capital requirements of the company and general corporate purposes.
The Mumbai-based company provides a wide range of financial services, including broking, margin trading, and distribution of financial products, under the brand name ‘Anand Rathi’. The company’s investment offerings cover a wide array of asset classes, including equities, derivatives, commodities, and currency markets.
In fiscal 2024, the brokerage firm recorded the highest average revenue per client within its peer group, based on broking revenue over NSE Active Clients for the period, as reported by CARE.
Revenue from operations increased by 45.74% to Rs 681.79 crore in fiscal 2024 from Rs 467.83 crore in fiscal 2023, attributable to an increase in its interest income and fees and commission income. Profit increased by 104.77% from Rs 37.74 crore in fiscal 2023 to Rs 77.29 crore in fiscal 2024.
For the six months ended Sept. 30, revenue from operations stood at Rs 441.72 crore, and profit stood at Rs 63.66 crore.
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