Anand Rathi Share & Stock Brokers Ltd.’s initial public offering (IPO) was subscribed 1.11 times on Wednesday as of 5:00 p.m. The company launched its IPO to raise Rs 745 crore through fresh issue of shares on Tuesday. The price band for the IPO was set between Rs 393 and Rs 414 per share.
The IPO comprises only of fresh issue worth Rs 745 crore. The face value of the equity share is Rs 5 each. To participate in the IPO, retail investors need to bid for a single lot size of 36 shares, requiring an investment of Rs 14,904, Small Non-Institutional Investors need to bid for 14 lots, amounting to an investment of Rs 2.09 lakh.
Big Non-Institutional Investors can participate in the IPO by bidding for a minimum of 67 lots. It will lead to an investment of Rs 10.13 lakh. The company has raised Rs 220 crore from anchor investors on Monday, ahead of its IPO.
The offer, which concludes on Thursday, is set to list on the BSE and the NSE. Nuvama Wealth Management, DAM Capital Advisors, and Anand Rathi Advisors will manage the Anand Rathi IPO, while MUFG Intime India is the registrar to the issue.
