Anand Rathi Share and Stock Brokers, with a valuation of ₹2,600 crore, is a full-service brokerage firm providing broking, margin trading, and financial product distribution under the Anand Rathi brand.
As of March 31, 2025, the firm delivers broking services through 90 branches, 1,125 authorized agents across 290 cities, along with its online platforms, catering to clients in Tier 1, Tier 2, and Tier 3 locations.
Anand Rathi IPO subscription status
On the last day of bidding, Anand Rathi IPO was subscribed 1.61 times, as of 10:51 am.
The retail portion has so far been subscribed 1.84 times, meanwhile, Non Institutional Investors (NIIS) and Qualified Institutional Buyers (QIBs) were subscribed 3.16 times and 0.03 times.
Anand Rathi IPO Review
Anand Rathi IPO review: Assigning a 'subscribe' tag to Anand Rathi IPO, Anshul Jain, Head of Research at Lakshmishree, said, "We believe the Anand Rathi Share and Stock Brokers Ltd. IPO offers investors a strong opportunity to participate in a well-established and diversified player within India's high-growth financial services sector. The company is well-positioned for sustainable growth with a pan-India presence, robust client base, and rising retail participation in equities. Revenue stood at ₹845.70 Cr and PAT at ₹103.61 Cr in FY25, reflecting consistent performance. Valuations at ~18-20x P/E are reasonable versus peers. Given that the entire issue is fresh and proceeds will support growth, we recommend investors SUBSCRIBE for medium to long-term wealth creation."
Marwadi Shares and Finance has also assigned a 'buy' tag to Anand Rathi IPO, saying, "Considering the FY 25 EPS of ₹16.52 on a post issue basis, the company is set to list at a P/E of approximately ~25x with a market cap of ₹2,596 Cr, whereas its peers namely Motilal Oswal Financial Services Ltd, IIFL Capital Services Limited, Geojit Financial Services Ltd and Angel One Ltd are trading at P/E of approximately ~20x, ~13x, ~14x and ~21x respectively. We assign a 'Subscribe' rating to this IPO as they are an established brand with more than a 3-decade legacy and a Pan-India presence. Also, it is available at a reasonable valuation considering the company's growth potential."
Adroit Financial Services and SBI Capital Securities have also assigned the Anand Rathi IPO a 'subscribe' tag.
Anand Rathi IPO GMP today
Market sources indicate that the grey market premium (GMP) for the Anand Rathi IPO is around ₹35 per share. This implies that the stock is expected to list about 8.45% above the upper end of its IPO price band of ₹414 per share.
The GMP reflects the estimated gap between an IPO's issue price and its likely listing price in the unofficial market. However, it is only an early indicator and should not be relied upon as the sole basis for investment decisions.
Anand Rathi IPO Details
Anand Rathi plans to raise ₹745 crore through its IPO, consisting entirely of a fresh issue of 1.80 crore shares. The price band has been set at ₹393- ₹414 per share.
The IPO lot size is 36 shares, translating to a minimum retail investment of ₹14,904. The share allotment is likely to be finalized on Friday, September 26, 2025, with the stock expected to debut on both the NSE and BSE on Tuesday, September 30.
Nuvama Wealth Management Ltd. is serving as the book-running lead manager, while MUFG Intime India Pvt. Ltd. is acting as the registrar for the issue.