Summary of this article
Anand Rathi IPO opened for public subscription on September 23, and will close on September 25
Anand Rathi IPO raised Rs 220.50 crore from anchor investors ahead of the launch of IPO
Anand Rathi IPO is trading with a GMP of 7.73 per cent over the issue price
Anand Rathi Share & Stock Brokers Ltd opened the three-day bidding window for its initial public offering (IPO) on September 23. The public issue will remain open until September 25.
Ahead of the launch of IPO, Anand Rathi raised Rs 220.50 crore from institutional investors during the anchor round on September 22.
Anand Rathi Share IPO Subscription Status: Day 1
On the first day of bidding, as of 3:00 PM, the issue has been subscribed by 31 per cent, or 0.31 times the shares on offer. The retail investor portion was booked 43 per cent, the non-institutional investor (NII) category saw 35 per cent subscription, and the qualified institutional investor (QIB) quota has so far seen 1 per cent subscription.
The employees of the company, which are being offered shares at a discount of Rs 25, or 6 per cent, to the issue price, have booked 103 per cent.
Anand Rathi Share IPO Details
Anand Rathi IPO Issue Size: Book-built issue worth Rs 745 crore, entirely comprised of a fresh issue of 17.99 million shares.
Anand Rathi IPO Price Band, Lot Size: The issue’s shares are being offered with a price band of Rs 393 to Rs 414 per share, in lot size of 36 shares.
Anand Rathi IPO Minimum Investment: The minimum investment required by retail investors to acquire one lot of the issue is Rs 14,904 crore.
Anand Rathi IPO Allotment Date: The basis of allotment is set to be finalised by September 26, and those applicants who did not get allotment will get refund by September 29.
Anand Rathi IPO Listing Date: The shares will tentatively debut on NSE and BSE on September 30.
Anand Rathi IPO BRLMs, Registrar: Nuvama Wealth Management Ltd, DAM Capital Advisors Ltd, and Anand Rathi Advisors Ltd are the book-running lead managers for the IPO, and MUFG Intime India Pvt Ltd is the registrar of the issue.
Anand Rathi Share IPO GMP
According to multiple websites that track grey market activities, the Anand Rathi Share IPO is trading with a grey market premium (GMP) of Rs 32 over the issue price, which translates to a premium of 7.73 per cent.
Given the current GMP and the upper band price of Rs 414, the estimated listing price of the Anand Rathi Share IPO is likely to be around Rs 446 per share.
Anand Rathi Share IPO Financials
Anand Rathi reported a revenue of Rs 845.69 crore in the previous fiscal year (FY25), up from Rs 681.78 crore in FY24, and Rs 467.82 crore in FY23.
Net profit came in at Rs 102.16 crore in FY25, up from Rs 77.42 crore in FY24, and Rs 37.84 crore in FY23.
The company reported an EBITDA of Rs 311.27 crore in FY25, up from Rs 230.58 crore in FY24, and Rs 115.07 crore in FY23.
As of March 31, 2025, the company has a net worth of Rs 503.76 crore, reserves and surplus of Rs 481.58 crore, and a total debt of Rs 905.57 crore.
Anand Rathi Share Company Profile
Anand Rathi Share & Stock Brokers is a full-service brokerage house that has been in India’s capital markets for over three decades. The firm, part of the Anand Rathi Group, provides broking, margin trading, and distribution of financial products to retail investors, high-net-worth individuals (HNIs), ultra-HNIs, and institutions. Its services cover equity, derivatives, commodities, and currency markets, supported by in-house research and digital platforms.
According to its red herring prospectus (RHP), as of March 2025, Anand Rathi operated 90 branches across 54 cities, supported by 1,125 authorised persons in 290 locations, alongside mobile apps such as Trade Mobi and AR Invest. The company had more than 1.8 lakh active clients, most of them above 30 years of age.
The brokerage business is its core segment, with the equity cash segment contributing over half of brokerage income in financial year 2025. The company also distributes mutual funds, bonds, structured products, and portfolio management services (PMS), and offers margin trading and algorithmic trading solutions.
