Anand Rathi's Successful Stock Surge: IPO Debuts Strong on Market
Anand Rathi Share and Stock Brokers Ltd made a remarkable market debut with its shares trading at a premium over the issue price. The IPO, with a price band of Rs 393-414, was subscribed 20.66 times and primarily aimed at funding long-term capital needs. The stock caters to diverse financial service clients.
- Country:
- India
Anand Rathi Share and Stock Brokers Ltd launched its shares to an enthusiastic market response on Tuesday, with a listing premium of over 4% above the Rs 414 issue price.
The stock, opening at Rs 432.10 on the BSE, surged to Rs 443.75, reflecting a 7.18% increase. At NSE, it opened similarly strong.
The Rs 745-crore IPO was substantially oversubscribed, highlighting demand for the firm, which serves retail, institutional, and high-net-worth investors with a broad range of services.
(With inputs from agencies.)
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