New Delhi, April 1: Anand Rathi Share and Stock Brokers Ltd, the brokerage arm of Anand Rathi Group, has re-submitted its draft red herring prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) for a ₹745 crore Initial Public Offering (IPO). This fresh filing comes after SEBI returned the earlier draft submitted in December 2024.
IPO Structure and Utilization of Funds
According to the latest DRHP filed on Monday, the entire IPO comprises a fresh issue of equity shares worth ₹745 crore. The company also aims to raise ₹149 crore via a pre-IPO placement. Should this pre-IPO round be successful, the public issue size will be reduced accordingly.Anand Rathi Share and Stock Brokers plans to use ₹550 crore from the IPO proceeds to meet long-term working capital requirements and general corporate purposes.
Company Overview
Operating under the brand name ‘Anand Rathi,’ the company provides an array of financial services such as:- Equity and derivatives broking
- Margin trading
- Distribution of financial products
As of September 2024, the firm boasts a strong physical presence with 90 branches across 54 cities, and a network of 1,123 authorised persons spanning 333 cities across India.
Strong Financial Performance
Anand Rathi Share and Stock Brokers has demonstrated robust financial growth:- FY24 Revenue: ₹682 crore (up 46% from ₹468 crore in FY23)
- FY24 Profit After Tax: ₹77.29 crore (up from ₹37.74 crore in FY23)
- H1 FY24 (April–September 2024) Revenue: ₹441.72 crore
- H1 FY24 Profit After Tax: ₹63.66 crore
