Anand Rathi Share and Stock Brokers Limited IPO opens on 23 September 2025 and closes on 25 September 2025. Check IPO price band, lot size, subscription status, GMP, allotment date, listing expectations, financials, objectives, SWOT, and expert reviews in this detailed guide.
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IPO Details at a Glance
| Particular | Details |
|---|---|
| IPO Name | Anand Rathi Share and Stock Brokers Limited IPO |
| IPO Type | Book-Built Issue |
| IPO Size | ₹745 crore (Fresh Issue) |
| Price Band | ₹393 – ₹414 per share |
| Face Value | ₹5 per share |
| Lot Size | 36 Shares |
| Minimum Investment (Retail) | ₹14,904 (1 lot at upper price band) |
| IPO Open Date | 23 September 2025 |
| IPO Close Date | 25 September 2025 |
| Allotment Finalization | 26 September 2025 |
| Refund Initiation | 29 September 2025 |
| Credit of Shares in Demat | 29–30 September 2025 |
| Listing Date (Tentative) | 30 September 2025 |
| Listing Exchange | BSE & NSE |
| Registrar | MUFG Intime India Pvt. Ltd. |
| Lead Managers | Nuvama Wealth Management, DAM Capital Advisors, Anand Rathi Advisors |
🏢 Company Background-Anand Rathi Share and Stock Broker
Anand Rathi Share and Stock Brokers Limited (ARSSBL) is a leading full-service financial services provider under the Anand Rathi Group. Established in 1991, the company offers a wide range of services including:
- Equity, Derivatives, Commodities & Currency Trading
- Margin Trading Facility
- Mutual Fund & Insurance Distribution
- Wealth Management Services
- Depository Services
- Research & Advisory
The company has a strong presence across India with branches, sub-brokers, and digital platforms catering to Retail, HNI, Ultra-HNI and Institutional Clients.
🌍 Industry Overview-Anand Rathi Share and Stock Broker
India’s broking & wealth management industry has seen exponential growth post-digital revolution:
- Retail investor participation in stock markets doubled between FY2020–2025.
- Discount brokers like Zerodha, Groww, Upstox dominate market share, but full-service brokers like Anand Rathi offer premium services to HNI clients.
- Regulatory push towards transparency and digital KYC improved investor onboarding.
- Wealth management and margin trading demand is rising, benefiting established players.
This IPO comes at a time when financialisation of savings is growing rapidly in India.
💰 Financial Performance-Anand Rathi Share and Stock Broker
| Particulars | FY23 | FY24 | FY25 |
|---|---|---|---|
| Revenue from Operations (₹ Cr) | 467.83 | 681.79 | 847.70 |
| Net Profit (₹ Cr) | 37.75 | 77.29 | 103.61 |
| EBITDA Margin | 15.88% | 22.42% | 25.66% |
| PAT Margin | 8.07% | 11.34% | 12.25% |
| ROE | ~18% | ~21% | ~23.1% |
| Debt to Equity | – | – | 1.80 |
Highlights:
- Strong revenue growth (CAGR ~35%).
- Profits more than doubled in 2 years.
- ROE above 20% shows efficiency.
- Low debt levels, stable margins.
🎯 Objectives of the IPO-Anand Rathi Share and Stock Broker
The company plans to use IPO proceeds for:
- Expansion of margin trading book – To capture growing investor demand.
- Enhancing technology platforms – AI-driven trading, mobile app upgrades.
- Debt reduction – To strengthen balance sheet.
- Working capital requirements.
- General corporate purposes.
💪 Strengths-Anand Rathi Share and Stock Broker
- Strong brand under Anand Rathi Group.
- Diverse revenue streams (broking, wealth management, distribution).
- Consistent financial growth & profitability.
- Large & growing HNI customer base.
- Experienced promoters and management.
⚠️ Risks-Anand Rathi Share and Stock Broker
- Fierce competition from discount brokers.
- Highly dependent on stock market cycles.
- Regulatory changes can affect profitability.
- Technology adoption cost is high.
- Valuation slightly expensive compared to peers.
🧩 SWOT Analysis-Anand Rathi Share and Stock Broker
Strengths: Strong brand, financial performance, diversified offerings.
Weaknesses: High dependence on market activity, premium pricing vs peers.
Opportunities: Growing investor base, margin trading demand, wealth management.
Threats: Discount brokers, regulatory risks, market downturns.
🔍 Peer Comparison-Anand Rathi Share and Stock Broker
| Company | Revenue (FY25, ₹ Cr) | PAT (₹ Cr) | P/E Ratio | ROE |
|---|---|---|---|---|
| Anand Rathi Share Brokers | 847 | 103 | 22–24x | 23% |
| Angel One | 4,844 | 1,300+ | 21x | 28% |
| Motilal Oswal | 3,500 | 950 | 24x | 20% |
| IIFL Securities | 2,400 | 600 | 18x | 22% |
👉 Anand Rathi’s scale is smaller, but profitability is improving steadily.
💹 Grey Market Premium (GMP)-Anand Rathi Share and Stock Broker
- Current GMP: ₹24 per share
- Expected Listing Gain: ~5–7%
- Trend: Stable demand in grey market, moderate premium.
📊 Subscription Details (Day-wise Update)-Anand Rathi Share and Stock
(Subscription status will be updated live during IPO window)
- Day 1 (23 Sep): Pending update
- Day 2 (24 Sep): Pending update
- Day 3 (25 Sep): Pending update
Retail, QIB, and NII quotas will be tracked here.
📜 Allotment Guide
- Allotment Date: 26 September 2025
- Check Allotment: KFintech IPO Allotment Link
- Steps:
- Visit registrar’s website (KFintech).
- Enter PAN / Application Number / Demat ID.
- Click “Submit” to check status.
📈 Listing Expectations
- Tentative Listing Date: 30 September 2025
- Exchanges: NSE & BSE
- Expected listing price: ₹430–₹440 (based on GMP trend).
- Long-term outlook: Positive for investors seeking exposure to financial services sector.
❓ FAQs
Q1: What is the Anand Rathi Share and Stock Brokers IPO size?
A1: ₹745 crore (all fresh issue).
Q2: What is the price band of this IPO?
A2: ₹393 – ₹414 per share.
Q3: What is the lot size?
A3: 36 shares per lot.
Q4: When will allotment be announced?
A4: 26 September 2025.
Q5: What is the listing date?
A5: 30 September 2025 (tentative).
Q6: What is the GMP today?
A6: Around ₹24 per share.