Anand Rathi Share & Stock Brokers Ltd. debuted on the stock exchanges today, listing at Rs 432 on the NSE, a 4.35 per cent premium over its IPO price of Rs 414 per share. The stock quickly surged further to Rs 446.85, up 7.9 per cent from the issue price. The company’s Rs 745-crore IPO had received robust investor response, being subscribed 20.66 times, ahead of its market debut.
Non-institutional investors subscribed 30 times, while retail participation stood at 4.8 times. In total, the offer received bids for over 27 crore shares compared with 1.33 crore shares on offer — signalling strong demand despite market volatility.
Anand Rathi Share and Stock Brokers is part of the diversified Anand Rathi Group, which provides stock broking, wealth management, investment banking, commodity broking and capital market lending services. Its wealth arm, Anand Rathi Wealth, listed in 2021 and has delivered healthy shareholder returns. Of the IPO proceeds, Rs 550 crore will fund long-term working capital needs and the balance will go towards general corporate purposes.
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Anil Singhvi’s listing preview and price target
Zee Business Managing Editor Anil Singhvi highlighted the strong subscription trend and reiterated his “apply for the long term” call on the issue. “We expect the stock to list in the Rs 440–Rs 450 range against the issue price of Rs 414. Investors should maintain a stop-loss below the IPO price and hold the shares for potential upside,” Singhvi said in his preview.
Market watchers will be closely tracking Tuesday’s opening trade to assess investor appetite for the latest batch of IPO listings and gauge sentiment in the primary market.
