Anand Rathi Share Files Draft Papers

New Delhi: Anand Rathi Group’s brokerage arm, Anand Rathi Share and Stock Brokers, has filed draft papers with capital markets regulator Sebi to raise Rs 745 crore through an initial public offering (IPO).

The proposed IPO is entirely a fresh issue of shares of up to Rs 745 crore. The offer includes reservations for subscriptions by eligible employees, according to the draft red herring prospectus (DRHP). Since the IPO is entirely an OFS, the company will not receive any funds from the issue and the proceeds will go to the selling shareholder. The company may raise Rs 149 crore through a pre-IPO placement. If the placement is completed, the issue size will be reduced.