Anand Rathi Share IPO allotment: Here’s how to check status as GMP stays modest – News Air Insight

The allotment for Anand Rathi Share and Stock Brokers’ Rs 745 crore IPO will be finalised on Friday. Investors who applied for shares can check their allotment status online once it is uploaded on the registrar’s portal, MUFG Intime India. The equity shares are scheduled to be listed on the BSE and NSE on September 30.

How to check Anand Rathi Share IPO allotment

Applicants can check whether they have received shares through the following steps:

Visit the official website of MUFG Intime India (https://in.mpms.mufg.com/Initial_Offer/public-issues.html).

Select “Anand Rathi Share & Stock Brokers IPO” from dropdown

Enter your application number or PAN card details and submit.

The system will display the number of shares allotted, if any, along with application details.

On BSE Exchange Website

Go to BSE IPO Allotment Status (https://www.bseindia.com/investors/appli_check.aspx)

Select Equity under issue type.

Select “Anand Rathi Share & Stock Brokers IPO” from dropdown

Allottees will see shares credited into their demat accounts by Monday while refunds for unsuccessful applicants will also be processed on the same day.

Subscription details

The IPO, which was open for bidding between September 23 and 25, received an overwhelming response with overall subscription of 21.8 times.

The qualified institutional buyer (QIB) category led the demand, subscribing 46.3 times, while non-institutional investors (NII) subscribed 30.2 times. The retail portion was subscribed 5.1 times, reflecting healthy interest from individual investors.

Objects of the IPO

The IPO consisted entirely of a fresh issue of 1.8 crore equity shares aggregating Rs 745 crore. The company plans to deploy Rs 550 crore from the proceeds to fund its long-term working capital requirements, while the balance will be used for general corporate purposes.

Listing outlook

Given the strong subscription levels, the IPO is expected to see healthy listing interest. However, valuations are at a premium, with the issue priced at a post-issue P/E of 25 times. Market watchers will track institutional flows and secondary market sentiment closely when trading begins on September 30. GMP is modest at 8%.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)