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Allotment

Anand Rathi Share and Stock Brokers Limited

Anand Rathi Share & Stock Brokers Ltd. launched a book-built IPO worth ₹745.64 crore. The issue comprises entirely of a fresh issue of 1.80 crore equity shares, with no offer for sale component.

The IPO opened for subscription on September 23, 2025, and closed on September 25, 2025. The allotment was finalized on September 26, 2025, and the shares were listed on both BSE and NSE on September 30, 2025.

The price band for the IPO was fixed at ₹414 per share. The minimum application lot size for retail investors was 36 shares, requiring an investment of ₹14,904 at the upper end of the price band.

For non-institutional investors:

sNII (Small NII): Minimum application of 14 lots (504 shares) amounting to ₹2,08,656

bNII (Big NII): Minimum application of 68 lots (2,448 shares) amounting to ₹10,13,472

The IPO also reserved up to 2,57,069 equity shares for employees, offered at a discount of ₹25 per share to the issue price.

Nuvama Wealth Management Ltd. acted as the book-running lead manager for the issue, while MUFG Intime India Pvt. Ltd. served as the registrar.

Anand Rathi Share and Stock Brokers Limited IPO & Charts
₹414

0%

Open

₹414

HIgh - Low

₹414

Previous Close

₹414

Total Traded Value

0

52 Weeks High

₹414

52 Weeks Low

₹414

Updates On

Sep 15, 2025

IPO. Open

Sep 23, 2026

IPO. Close

Sep 25, 2026

IPO. Price

₹414.00

IPO Market price

₹2,596.18 Cr

IPO Details

IPO Date 30 Sep
IPO Listing Date 30 Sep
IPO Face Value ₹5.00 per share
IPO Price Range ₹414.00
IPO Issue Size 1,80,10,692 shares
IPO Sale Type Fresh Capital
Employee Discount ₹25
IPO Issue Type Book Building IPO
IPO Listing BSE, NSE Platform
Share Holding Pre Issue 4,47,14,558 shares

IPO Timeline

IPO Open Date 23 Sep
IPO Close Date 25 Sep
IPO Allotment (Tentative) 26 Sep
Refunds 29 Sep
Credit to Demat Account 29 Sep
IPO Listing Date 30 Sep

IPO Reservation

Category Offer
QIB Shares Offered 37,40,457 Shares
NII (HNI) Shares Offered 28,05,344 Shares
Retail Shares Offered 65,45,802 Shares

IPO Lot Size

Investors can bid for a minimum of 36 shares, with additional shares to be purchased in multiples of 36.

Application Lots Share 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
About Company

Incorporated in 1991, Anand Rathi Share and Stock Brokers Limited is a full-service brokerage firm and a key part of the Anand Rathi Group, which operates across a wide spectrum of financial services.

The company offers a comprehensive range of services under the “Anand Rathi” brand, including equity broking, margin trading, and the distribution of financial products. Its investment solutions span equity, derivatives, commodities, and currency markets, catering to a diverse client base.

As of March 31, 2025, approximately 84.36% of the company’s active clients were above 30 years of age, reflecting a mature and stable customer base. With over three decades of industry experience and a diversified service portfolio, the company is well positioned to capitalize on future growth opportunities.

The company delivers its broking services through a strong multi-channel network comprising 90 branches and 1,125 authorized agents across 290 cities, along with digital platforms. This extensive presence enables the company to effectively serve clients across Tier 1, Tier 2, and Tier 3 cities. As of March 31, 2025, the company employed 2,082 permanent staff members.

Offerings & Services

Broking Services: Provides broking services to retail clients, high net worth individuals (HNIs), ultra-high net worth individuals (UHNIs), and institutional investors across equity, derivatives, commodities, and currency markets through physical branches, authorized agents, and digital platforms.

Margin Trading Facility (MTF): Offers margin trading facilities that allow clients to leverage eligible collateral for equity cash delivery trades, in line with margin requirements prescribed by stock exchanges.

Distribution of Investment Products: Distributes third-party financial products such as mutual funds, alternative investment funds (AIFs), fixed deposits, bonds, and portfolio management services through relationship managers and digital channels.

Competitive Strengths

Highest average revenue per client (ARPC) among peers

Strategic deployment of the margin trading business to enhance ARPC

Full-service brokerage model with diversified revenue streams

Pan-India presence supported by strong digital capabilities for client acquisition and servicing

Established brand with over three decades of legacy, backed by experienced promoters and a strong management team

Consistent financial performance with a proven track record of growth

Anand Rathi Share & Stock Brokers Ltd. reported a 24% increase in revenue and a 34% rise in profit after tax (PAT) for the financial year ended March 31, 2025, compared to the year ended March 31, 2024.

Company Financials (Consolidated)

Assets 3,365.00 2,585.10 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

Key Performance Indicator (KPI)

ROE 23.12%
ROCE 21.32%
Debt/Equity 1.8
RoNW 23.12%
PAT Margin 12.23%
EBITDA Margin 36.81%
Price to Book Value 4.68
IPO Objective

IPO Objects of the Issue

S.No. Objects of the ipo Resources Detail IPO Amount
1 Funding capital expenditure requirements for the purchase of equipment/machineries -
2 To meet out the expenses of Working Capital Requirement 550
3 To meet out the General Corporate Purposes; 153.5
4 Offer for Sale (OFS) -

Contact Details

Anand Rathi Share & Stock Brokers Ltd. Address
Express Zone, A Wing,
10th Foor, Western Express Highway,
Goregaon (E), Mumbai –
Goregaon, Maharashtra, 400063
Phone: +91 22 – 6281 70
Email: secretarial@rathi.com
Website: https://www.anandrathi.com/

Detail Registrar

Registrar
MUFG Intime India Private Limited
C-101, 1st Floor, 247 Park L B S Marg,
Vikhroli West Mumbai – 400 083,
Maharashtra, India
+91 810 811 4949,
anandrathibrokers.ipo@in.mpms.mufg.com

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