Anand Rathi Share Price: Stock makes tepid debut, gains post listing - Check details
Anand Rathi Share Price: Earlier, Anand Rathi Share and Stock Brokers on Monday announced raising a little over Rs 220 crore from anchor investors.
Shares of Anand Rathi Share and Stock Brokers Ltd made a tepid debut on the bourses today and list at Rs 432 on the National Stock Exchange (NSE) i.e. at a premium of 4.35 per cent from the issue price of Rs 414. On BSE, the stock opened at Rs 432.10 apiece, up 4.37 per cent than the issue price.
Later, the stock surged 9.83 per cent to touch the high of Rs 454.70 on the BSE. Last seen, it was trading at Rs 449.50 and the market cap of the company stood at Rs 2, 821 crore. On the NSE, it touched the intraday high of Rs 454.95 and a low of Rs 431.
Anand Rathi Price Bank
Earlier, the initial public offering (IPO) of Anand Rathi Group's brokerage arm, Anand Rathi Share and Stock Brokers Ltd, fetched 20.66 times subscription on the final day of bidding on Thursday last week.
The price band for the IPO was fixed at Rs 393-414 per share. The broking firm's IPO was entirely a fresh issuance of shares with no offer for sale (OFS) component.
Anand Rathi Share and Stock Brokers Ltd provides a wide range of financial services, including broking, margin trading, and distribution of financial products, under the brand name 'Anand Rathi'.
Catering to a diverse clientele, the company serves retail investors, high-net-worth individuals (HNIs), ultra-HNIs, and institutional clients.
Nuvama Wealth Management, DAM Capital Advisors, and Anand Rathi Advisors are the book-running lead managers to the offer.
Stock Markets Rebound
Meanwhile, benchmark indices Sensex and Nifty bounced back in early trade on Tuesday, after falling sharply in the past seven trading days, helped by buying in bank stocks.
The 30-share BSE Sensex climbed 312.88 points to 80,677.82 in early trade. The 50-share NSE Nifty went up by 96.9 points to 24,731.80. From the Sensex firms, Power Grid, Asian Paints, Bajaj Finance, Bharat Electronics, Titan, HDFC Bank, HCL Tech, UltraTech Cement, State Bank of India and ICICI Bank were among the major gainers.