Anand Rathi shares list at 4% premium to issue price after over 20x subscription to IPO
Shares of Anand Rathi Share and Stock Brokers Ltd. made stock market debut alongside three other companies on Tuesday, September 30.
The stock began trading at ₹432 per share, which is a premium of 4% in comparison to the company’s IPO price of ₹414 per share.
The ₹745 crore IPO was open for subscription between September 23 and September 25. Shares were sold at the upper end of the price band of ₹393 to ₹414 per share. The entire issue was a fresh issue of equity shares.
Anand Rathi’s three-day IPO saw overall subscription of 20.66 times the total number of shares on offer. Subscription was led by institutional investors, whose portion was subscribed 44 times the total number of shares on offer.
The portion reserved for…
