Anand Rathi Day 1: Issue subscribed 40%; NIIs, retail segment see modest interest; check category-wise status

Till 5 PM, the initial share sale received bids for 54,09,144 shares as compared to 13,363,342 shares on offer, as per exchange data.

The non-institutional investor (NII) category was subscribed 0.53 times, while the retail individual investor (RII) segment saw 0.53 times subscription. However, the Qualified Institutional Buyers (QIB) portion was booked 0.01x.

The price band for the issue has been fixed at ₹393-₹414 per share.

The initial share sale is completely a fresh issuance of new equity shares aggregating to ₹745 crore without an offer for sale (OFS) component.

The objectives of the offer include meeting the company’s working capital requirements and funding general corporate purposes.

Each lot comprises 36 shares and can be applied for in multiples thereafter. The company has allocated 50% of the offer to Qualified Institutional Buyers (QIBs), 35% to retail investors, and the remaining 15% to Non-Institutional Investors (NIIs).

The basis of allotment for the Anand Rathi Share and Stock Brokers IPO is expected to be finalised on September 26. The refunds for non-allottees and credit of shares to the Demat accounts of successful applicants are likely to be processed by September 29.

The company's shares will start trading on the stock exchanges on September 30.

Nuvama Wealth Management, Anand Rathi Advisors and DAM Capital Advisors are the IPO's book-running lead managers, while MUFG Intime India is the registrar.

Anand Rathi Share and Stock Brokers offers broking services, margin trading facilities and distribution of financial products under the ‘Anand Rathi’ brand to an array of clients across retail, high net worth individuals (HNIs), ultra-high net worth individuals (UHNIs) and institutions.

Its investment offerings span across asset classes like equity, derivatives, commodities, and currency markets. The company's client base is spread across several age demographics; 1.86 lakh of its active clients, representing 84.36% of its active clients, were above 30 years of age as of March 2025. It operates through 90 branches and 1,125 authorised persons in India.