Anand Rathi Shares & Stock Brokers made a modest entry on Dalal Street on Tuesday as its shares listed at ₹432.10 on the BSE, a 4.37% premium over the issue price of ₹414 apiece. On the NSE, the stock opened at ₹432, also up 4.35% from its issue price.
At the listing price, retail investors who received a single lot of 36 shares booked a profit of ₹651 on an investment of ₹14,904. High-net-worth investors (HNIs) who were allotted 14 lots, or 504 shares, made a profit of ₹9,122.4 on an investment of ₹2,08,566.
The debut fell short of expectations as the stock was commanding a grey market premium (GMP) of ₹30–32 per share ahead of listing, indicating a potential 7–8% pop. During the bidding period, GMP had touched ₹40 per share.
The ₹745 crore IPO, open between September 23 and 25, was priced in a band of ₹393–414 per share with a lot size of 36 shares. The issue was entirely a fresh sale of 1.8 crore equity shares and saw an overall subscription of 20.66 times, with bids worth close to ₹11,500 crore. The QIB category was subscribed 43.80 times, NIIs 28.60 times, retail investors 4.78 times, and employees 2.56 times.
Founded in 1991, Mumbai-based Anand Rathi Shares & Stock Brokers is a full-service broking company offering equity, derivatives, commodities, and currency services, along with margin trading and financial product distribution. The company is part of the Anand Rathi group, which provides a wide range of financial services.
DAM Capital, Nuvama Wealth Management, and Rathi Advisors were the book-running lead managers, while MUFG Intime India acted as the registrar to the issue.
