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Anand Rathi Share IPO is a bookbuilt issue of Rs 745.00 crore. This issue is entirely a fresh issue of 1.80 crore shares with no offer for sale.
The IPO opens for subscription on September 23, 2025, and closes on September 25, 2025. The allotment is expected to be finalized on Friday, September 26, 2025. The price band for the IPO is set at ₹393 to ₹414 per share, and the minimum lot size for an application is 36 shares.
Company Summary
Incorporated in 1991, Anand Rathi Share and Stock Brokers Limited is a Full-Service broking company. The Company is a part of the Anand Rathi group, which carries out a diverse range of financial services
The company provides broking services, margin trading, and financial product distribution under the ‘Anand Rathi’ brand, offering investment options in equity, derivatives, commodities, and currency markets to various clients.
As of March 31, 2025, 84.36% of the company’s active clients were over 30 years old. With three decades of experience and diverse offerings, the company is well-positioned for growth.
As of March 31, 2025, the company offers broking services through 90 branches, 1,125 authorized agents across 290 cities, and online platforms, serving clients in Tier 1, Tier 2, and Tier 3 cities.
As of March 31, 2025, the company had 2,082 permanent employees.
Company Offerings & Services
- Broking Services: The company provides broking services to retail, high net worth, ultra-high net worth individuals, and institutions across equity, derivatives, commodities, and currency markets through branches, authorized agents, and digital platforms.
- Margin Trading Facility: The company offers margin trading facilities, allowing clients to leverage eligible collateral for equity cash delivery trades. Funding is based on margin requirements set by stock exchanges.
- Distribution of investment products: The company distributes third-party financial products, including mutual funds, AIFs, fixed deposits, bonds, and portfolio management services, through relationship managers and digital platforms.
Company Strengths
- The highest ARPC amongst the peer set
- Strategic use of MTF Business to drive higher ARPC
- Full-service brokerage house with diversified revenue streams
- Pan India presence combined with robust digital capabilities for client acquisition and servicing
- Established brand with more than a 3-decade legacy backed by experienced Promoters and a strong management team
- Strong track record of financial performance and consistent growth
Company Financials
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 3,365 | 2,585.1 | 1,628.78 |
| Total Income | 847 | 683.26 | 468.7 |
| Profit After Tax | 103.61 | 77.29 | 37.75 |
| EBITDA | 311.27 | 230.58 | 115.07 |
| Net Worth | 503.76 | 392.66 | 265.23 |
| Reserves and Surplus | 481.58 | 370.48 | 245.07 |
| Total Borrowing | 905.57 | 879.24 | 423 |
| Amount in ₹ Crore | |||
Objectives of IPO
- Funding long-term working capital requirements of the Company
- General corporate purposes
Promoters of the company
Anand Nandkishore Rathi, Pradeep Navratan Gupta, Priti Pradeep Gupta, and Anand Rathi Financial Services Limited are the promoters of the company.
IPO Details
| IPO Date | September 23, 2025 to September 25, 2025 |
| Listing Date | September 30, 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 upto ₹745.00 Cr ) |
| Issue type | Bookbuilding IPO |
| Listing at | NSE, BSE |
| Share Holding Pre Issue | 4,47,14,558 shares |
| Share Holding Post Issue | 6,27,09,727 shares |
Category Reservation Table
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
| Only RII | Upto Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Upto Rs 5 lakhs | Yes |
| Employee + RII/NII | 1. Employee limit: Upto Rs 5 lakhs (In certain cases, employees are given a discount if the bidding amount is upto Rs 2 Lakhs) 2. If applying as RII: Upto Rs 2 Lakhs 3. If applying as NII: sNII > Rs 2 Lakhs and upto Rs 10 Lakhs and bNII > Rs 10 lakhs | Yes for Employee and RII/NII |
Lot Allocation Details
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 36 | ₹14,904.00 |
| Retail (Max) | 13 | 468 | ₹1,93,752.00 |
| S-HNI (Min) | 14 | 504 | ₹2,08,656.00 |
| S-HNI (Max) | 67 | 2,412 | ₹9,98,568.00 |
| B-HNI (Min) | 68 | 2,448 | ₹10,13,472.00 |
Allotment Schedule
| Basis of Allotment | Fri, 26 Sep, 2025 |
| Initiation of Refunds | Mon, 29 Sep, 2025 |
| Credit of Shares to Demat | Mon, 29 Sep, 2025 |
| Tentative Listing Date | Tue, 30 Sep, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 25, 2025 |
IPO Reservation
| Investor Category | Shares Offered |
| QIB Shares Offered | Not more than 50% of the Net Offer |
| Retail Shares Offered | Not less than 35% of the Net Offer |
| NII Shares Offered | Not less than 15% of the Net Offer |
To check allotment, click here
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