Anand Rathi IPO Day 3: Issue subscribed nearly 2x so far; here's how to check allotment

Until 11:35 PM, the initial share sale received bids for 25,078,716 shares as compared to 13,363,342 shares on offer, as per exchange data.

The non-institutional investor (NII) category was subscribed 3.89 times, while the retail individual investor (RII) segment saw 2.06 times subscription. However, the Qualified Institutional Buyers (QIB) portion was booked 0.03 times.

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.

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).

• Chose ‘Equity & SME IPO bid details’

• Select ‘Anand Rathi Share and Stock Brokers’ from the list of IPO names

• Enter your application number and PAN details.

• Click ‘Submit’ to view the status of your IPO allotment.

• Select ‘Anand Rathi Share and Stock Brokers’ as the issue type.

• From the dropdown menu, select ‘Anand Rathi Share and Stock Brokers’. Identify yourself using either PAN details or the IPO application number.

• Click on the ‘I’m not a robot’ tab and press the ‘Search’ button to see the allotment details.