The initial share sale of Anand Rathi Group’s brokerage arm, Anand Rathi Share and Stock Brokers Ltd, got subscribed 1.11 times on the second day of bidding on Wednesday.The three-day Initial Public Offer (IPO) received bids for 1,48,34,376 shares against 1,33,63,342 shares on offer, according to NSE data.

Strong demand from retail and HNI investors

The quota for non-institutional investors fetched 1.88 times subscription and that of Retail Individual Investors (RIIs) received 1.37 times subscription. The Qualified Institutional Buyers (QIBs) portion got subscribed 2 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 compan

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