Additionally, the corporate deliberate to mobilise Rs 149 crore by way of a pre-IPO placement. If the location is accomplished, the problem measurement will probably be lowered.
The agency filed DRHP with Sebi in mid-December in search of its approval to mop-up Rs 745 crore by way of an preliminary public providing (IPO).
After a month, the provide doc was returned on January 17 with out specifying any motive, the replace confirmed.
As per the draft papers, proceeds of the IPO to the tune of Rs 550 crore had been proposed for use to fund the corporate’s long-term working capital necessities and normal company functions.
Anand Rathi Share and Inventory Brokers Ltd supplies a variety of economic companies, together with broking, margin buying and selling, and distribution of economic merchandise, underneath the model title ‘Anand Rathi’. Catering to a various clientele, the corporate serves retail traders, high-net-worth people (HNIs), ultra-HNIs, and institutional purchasers. Whereas its consumer base spans varied age teams, 1.46 lakh of its lively purchasers — representing 85 per cent of the full — had been over 30 years outdated as of September 30, 2024.
As of September 2024, Anand Rathi Share and Inventory Brokers operates by way of a strong community of 90 branches throughout 54 cities in India, supported by 1,123 authorised individuals (brokers accepted by related inventory exchanges) in 333 cities.
On the monetary entrance, income from operations elevated 46 per cent to Rs 682 crore in FY24, from Rs 468 crore in FY23. Revenue after tax surged from Rs 37.74 crore in FY23, to Rs 77.29 crore in FY24.
For the six months ended September 30, 2024, income from operations stood at Rs 441.72 crore, and revenue after tax stood at Rs 63.66 crore.
Nuvama Wealth Administration, DAM Capital Advisors, and Anand Rathi Advisors are the book-running lead managers. The shares are proposed to be listed on the Nationwide Inventory Change of India Ltd, and the BSE.
