Anand Rathi Securities, one of the leading stock broking house, adopted an innovative marketing strategy which aims to reach retail investors all over Gujarat covering six big cities and 44 other locations.
"We will be distributing ITC Ashirvaad branded spices to each retail investor who submits filled application forms of Anand Rathi for Plethico Pharma and Reliance Petroleum," said Kamal Gupta, manager, business development of Anand Rathi, Gujarat.
The packets will be in different size depending upon the amount of application submitted by the investor, he added.
Anand Rathi Securities has completed 10 months of its operations in Ahmedabad and has already set up offices in places such as Rajkot, Jamnagar, Surat, Vadodara and Anand.
"This is the first time in Gujarat that a stock broking house is adopting such innovative marketing strategy for public issues" Gupta said.
Anand Rathi is acting as Book Running Lead Manager for Plethico Pharma Issue, the bid of which opens on April 10 to 17.
The issue size is of 110 crore (Rs 1.1 billion) and will be listed on the Bombay Stock Exchange and the National Stock Exchange.
Anand Rathi's kitty includes equities, derivatives, commodities, IPOs, mutual funds, life and non-life insurance, bonds, depository and value added services.
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