“The company is likely to announce the price band soon,” said a person in know who did not wish to be identified.
Nuvama Wealth Management, DAM Capital Advisors, and Anand Rathi Advisors are the book-running lead managers to the issue. Emails sent to the company and the bankers remained unanswered.
The IPO will entirely be a fresh share issue. The company will use ₹550 crore from the issue proceeds to fund its long-term working capital requirements.
The brokerage firm had refiled its draft red herring prospectus (DRHP) with capital markets regulator Sebi in April this year and secured approval in August. It had initially filed its draft offer document in December 2024.
The group’s wealth management arm, Anand Rathi Wealth, was listed in December 2021 at an issue price of ₹550 per share. Since its debut, the stock has surged more than 400%, including a 53% gain over the last one year. It is currently trading at ₹3,021.
as a Reliable and Trusted News Source