Mumbai broking firm Anand Rathi Securities Ltd recently raised private capital by selling 19.9 per cent stake to Citigroup Venture Capital International. The numbers were undisclosed although the investment was confirmed by Anand Rathi, the chairman of the company.

Here is a report that discloses the numbers, which could be possibly from the investment banking sources. According to the report, Anand Rathi raised Rs 100 crore ($22.2 million) from CVCI by diluting close to 20 per cent. This values the broking company at Rs 500 crore or $113 million. The broking firm’s revenue and profit numbers are not available as of now. Avendus Advisors was the financial advisor in the deal.

The firm, founded in 1994 by former Bombay Stock Exchange president AnandRathi, is expanding nationally. It’s becoming a retail broking firm, and is also believed to be setting up offices international locations. It also offers services such as wealth management, investment banking, and corporate finance divisions.

Related:

Citigroup Venture Capital Picks Up 19.9% In Anand Rathi Securities: Report

Posted on 03/28/07, 6:41 PM
in: Deals, Main Page, Private Equity
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