The initial share sale of Anand Rathi Group’s brokerage arm A nand Rathi Share and Stock Brokers Ltd got subscribed 40 per cent on the first day of bidding on Tuesday.

The three-day initial public offer (IPO) received bids for 54,09,144 shares against 1,33,63,342 shares on offer, as per NSE data.

Category-wise subscription

Retail Individual Investors (RIIs) portion got subscribed 53 per cent, and the non-institutional investors quota also received 53 per cent subscription. The category for Qualified Institutional Buyers (QIBs) got subscribed 1 per cent.

Anand Rathi Share and Stock Brokers on Monday announced raising a little over Rs 220 crore from anchor investors.

The shares are available for subscription at a price band of Rs 393-414 per share for the company’s Rs 745-crore IPO

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