Anand Rathi IPO oversubscribed 21.8 times: GMP, other details
Anand Rathi Share and Stock Brokers's IPO just wrapped up with a huge response—it was oversubscribed 21.8 times between September 23-25.
The company offered 1.8 crore fresh shares, drawing strong interest from all types of investors.
Institutional investors led the charge
Big institutional buyers led the charge, subscribing 46.3 times their quota. Non-institutional investors followed at 30.2 times, while retail investors weren't far behind with 5.1 times subscription.
IPO allotment is set for September 26, and shares will hit accounts by September 29.
Who is Anand Rathi?
Anand Rathi is a well-known name in India's broking world.
Valuation, gray market premium, and listing date
The IPO price values the company at a post-issue P/E of about 25x.
Its gray market premium sits at a modest 8% ahead of its listing on NSE and BSE on September 30.
Most of the ₹550 crore raised will go toward long-term working capital; the rest is for general corporate needs.