Anand Rathi Share & Stock Brokers IPO Price: ₹393 to ₹414 per share
IPO Dates: 23rd September 2025 – 25th September 2025
Company Overview
Incorporated in 1991, Anand Rathi Share and Stock Brokers Limited is a full-service broking company and a key part of the Anand Rathi Group, which offers a diverse range of financial services. With over three decades of industry presence, the company has established itself as a trusted name in wealth creation and financial advisory.
The company provides a wide range of services, including broking, margin trading, and financial product distribution under the ‘Anand Rathi’ brand. It offers investment opportunities across equities, derivatives, commodities, and currency markets, catering to retail clients, high-net-worth individuals (HNIs), ultra-HNIs, and institutions.
Client Base and Reach
As of March 31, 2025, 84.36% of the company’s active clients were over 30 years of age, showcasing a strong and stable investor base. The company serves its clients through 90 branches and 1,125 authorized agents across 290 cities, in addition to its digital platforms. This wide network enables it to reach clients in Tier I, Tier II, and Tier III cities, strengthening its nationwide presence.
Offerings and Services
- Broking Services: Anand Rathi offers broking services across equity, derivatives, commodities, and currency segments, accessible via physical branches, authorized agents, and digital platforms.
- Margin Trading Facility (MTF): The company provides clients with the flexibility to leverage eligible collateral for equity cash delivery trades, with funding structured in line with margin requirements set by stock exchanges.
- Distribution of Investment Products: It distributes third-party financial products such as mutual funds, alternative investment funds (AIFs), fixed deposits, bonds, and portfolio management services (PMS), through both relationship managers and digital platforms.
As of March 31, 2025, the company employed 2,082 permanent staff, ensuring strong customer support and advisory capabilities.
Competitive Strengths
- Amongst the highest ARPC (Average Revenue Per Client) in the industry.
- Strategic use of the Margin Trading Facility (MTF) business to drive revenue growth.
- A full-service brokerage house with diversified and sustainable revenue streams.
- Pan-India presence with robust digital platforms for efficient client acquisition and servicing.
- Strong brand reputation with more than three decades of legacy, backed by experienced promoters and management.
- Proven track record of financial performance with consistent growth.
Bidding Starts In
Anand Rathi Share & Stock Brokers IPO Specifics:
| IPO Date | September 23, 2025 to September 25, 2025 |
| Face Value | ₹5 per share |
| Price Band | ₹393 to ₹414 per share |
| Lot Size | 36 Shares |
| Total Issue Size | 1,79,95,169 shares (aggregating up to ₹745.00 Cr) |
| Fresh Issue | 1,79,95,169 shares (aggregating up to ₹745.00 Cr) |
| Employee Discount | ₹25 |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 4,47,14,558 shares |
| Share Holding Post Issue | 6,27,09,727 shares |
Anand Rathi Share & Stock Brokers IPO Timetable (Important Dates)
| IPO Open Date | Tuesday, September 23 2025 |
| IPO Close Date | Thursday, September 25 2025 |
| Basis of Allotment | Friday, September 26 2025 |
| Initiation of Refunds | Monday, September 29 2025 |
| Credit of Shares to Demat | Monday, September 29 2025 |
| Listing Date | Tuesday, September 30 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 25, 2025 |
Anand Rathi Share & Stock Brokers IPO Lot Size
Bidders have the opportunity to bid for a minimum of 36 shares, with the option to increase in multiples. The table below outlines the minimum and maximum investment thresholds for both retail investors and High Net Worth Individuals (HNIs), specifying the corresponding number of shares and amounts involved.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 36 | ₹14,904 |
| Retail (Max) | 13 | 468 | ₹1,93,752 |
| S-HNI (Min) | 14 | 504 | ₹2,08,656 |
| S-HNI (Max) | 67 | 2,412 | ₹9,98,568 |
| B-HNI (Min) | 68 | 2,448 | ₹10,13,472 |
Anand Rathi Share & Stock Brokers IPO Reservation
| QIB Shares Offered | Not more than 50% of the Net offer |
| Retail Shares Offered | Not less than 35% of the Offer |
| NII (HNI) Shares Offered | Not less than 15% of the Offer |
Anand Rathi Share & Stock Brokers Limited IPO Financial Information
| Period Ended | 31 Mar 2023 | 31 Mar 2024 | 31 Mar 2025 |
|---|---|---|---|
| Assets | 1628.78 | 2585.10 | 1628.78 |
| Total Income | 468.70 | 683.26 | 468.70 |
| Profit After Tax | 37.75 | 77.29 | 37.75 |
| EBITDA | 115.07 | 230.58 | 115.07 |
| Net Worth | 265.23 | 392.66 | 265.23 |
| Reserves and Surplus | 481.58 | 370.48 | 245.07 |
| Total Borrowing | 905.57 | 879.24 | 423 |
Key Performance Indicator – Anand Rathi Share & Stock Brokers IPO
| KPI | Values |
|---|---|
| Market Cap | ₹ 2596.18 Cr |
| EPS | ₹23.17 |
| P/E (x) | 17.87 |
| ROE | 23.12% |
| ROCE | 21.32% |
| Debt/Equity | 1.80 |
| RoNW | 23.12% |
| PAT Margin | 12.23% |
Objects of the Issue:
Anand Rathi Share Limited proposes to utilize the net proceeds from its Initial Public Offering (IPO) for the following purposes:
- Funding Long-Term Working Capital Requirements: ₹550 crore will be allocated to meet the company’s long-term working capital needs, ensuring smooth operations, supporting growth, and strengthening financial stability.
- General Corporate Purposes: The balance funds will be utilized for general corporate activities, including administrative expenses, brand building, and other strategic initiatives to enhance overall business efficiency.
Prospectus Links:
Prospectus: Official documents that provide detailed information about the IPO and the company.
