Free Equity Delivery
Flat ₹10 per Trade in Intraday & F&O
Anand Rathi Share & Stock Brokers Ltd. IPO is a book build issue of ₹745.64 crores. The issue is entirely a fresh issue of 1.80 crore shares of ₹745.64 crore.
Anand Rathi Share IPO bidding started from Sep 23, 2025 and ended on Sep 25, 2025. The allotment for Anand Rathi Share IPO was finalized on Sep 26, 2025. The shares got listed on BSE, NSE on Sep 30, 2025.
Anand Rathi Share IPO price band is set at ₹414.00 per share . The lot size for an application is 36. The minimum amount of investment required by an retail is ₹14,904 (36 shares) (based on upper price). The lot size investment for sNII is 14 lots (504 shares), amounting to ₹2,08,656, and for bNII, it is 68 lots (2,448 shares), amounting to ₹10,13,472.
The issue includes a reservation of up to 2,57,069 shares for employees offered at a discount of ₹25.00 to the issue price.
Nuvama Wealth Management Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Anand Rathi Share IPO RHP for detailed Information.
| IPO Date | September 23, 2025 to September 25, 2025 |
| Listing Date | September 30, 2025 |
| Face Value | ₹5 per share |
| Issue Price Band | ₹393 to ₹414 per share |
| Issue Price Final | ₹414 per share |
| Lot Size | 36 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 1,80,10,692 shares (aggregating up to ₹745.64 Cr) |
| Employee Discount | ₹25.00 |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 4,47,14,558 shares |
| Share Holding Post Issue | 6,27,25,250 shares |
Anand Rathi Share IPO offers total 1,80,10,692 shares. Out of which 88,76,810 (49.29%) allocated to QIB, 35,50,724 (19.71%) allocated to QIB (Ex- Anchor), 26,63,044 (14.79%) allocated to NII 62,13,769 (34.50%) allocated to RII and 53,26,086 (29.57%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 88,76,810 (49.29%) | NA |
| − Anchor Investor Shares Offered | 53,26,086 (29.57%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 35,50,724 (19.71%) | NA |
| NII (HNI) Shares Offered | 26,63,044 (14.79%) | NA |
| − bNII > ₹10L | 17,75,363 (9.86%) | 3,522 |
| − sNII < ₹10L | 8,87,681 (4.93%) | 1,761 |
| Retail Shares Offered | 62,13,769 (34.50%) | 1,72,604 |
| Employee Shares Offered | 2,57,069 (1.43%) | NA |
| Total Shares Offered | 1,80,10,692 (100.00%) |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to 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 | Up to Rs 5 Lakhs | Yes |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Anand Rathi Share IPO raises ₹220.50 crore from anchor investors. Anand Rathi Share IPO Anchor bid date is September 22, 2025. Anand Rathi Share IPO Anchor Investors list
| Bid Date | September 22, 2025 |
| Shares Offered | 53,26,086 |
| Anchor Portion Size (In Cr.) | 220.50 |
| Anchor lock-in period end date for 50% shares (30 Days) | October 25, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | December 24, 2025 |
Anand Rathi Share IPO opens on September 23, 2025, and closes on September 25, 2025.
| IPO Open Date | Tue, Sep 23, 2025 |
| IPO Close Date | Thu, Sep 25, 2025 |
| Tentative Allotment | Fri, Sep 26, 2025 |
| Initiation of Refunds | Mon, Sep 29, 2025 |
| Credit of Shares to Demat | Mon, Sep 29, 2025 |
| Tentative Listing Date | Tue, Sep 30, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Thu, Sep 25, 2025 |
Investors can bid for a minimum of 36 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | 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 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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.
Offerings & Services:
As of March 31, 2025, the company had 2,082 permanent employees.
Competitive Strengths:
Anand Rathi Share & Stock Brokers Ltd.'s revenue increased by 24% and profit after tax (PAT) rose by 34% between the financial year ending with March 31, 2025 and March 31, 2024.
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 3,365.00 | 2,585.10 | 1,628.78 |
| Total Income | 847.00 | 683.26 | 468.70 |
| 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 | 423.00 |
| Amount in ₹ Crore | |||
KPI as of Mon, Mar 31, 2025.
| KPI | Values |
|---|---|
| ROE | 23.12% |
| ROCE | 21.32% |
| Debt/Equity | 1.80 |
| RoNW | 23.12% |
| PAT Margin | 12.23% |
| EBITDA Margin | 36.81% |
| Price to Book Value | 4.68 |
| Market Capitalization | 2596.18 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 23.17 | 16.52 |
| P/E (x) | 17.87 | 25.06 |
The Company Anand Rathi Share IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | Funding long-term working capital requirements of the Company | 550.00 |
| 2 | General corporate purposes | 153.50 |
[Dilip Davda] ARSSBL is an established full-service brokerage house in India with over three decades of experience. It is operating in a highly competitive and fragmented segment. The company reported steady growth in its top and bottom lines for the reported periods. The company has outperformed its peers and poised for fast forward mode. Based on its recent financials, the issue appears aggressively priced. Well-informed investors can park funds for the long term. Read detail review...
| Listing Date | September 30, 2025 |
| BSE Script Code | 544530 |
| NSE Symbol | ARSSBL |
| ISIN | INE549H01021 |
| Final Issue Price | ₹414 per share |
| NSE Listing Group | EQ (Rolling) |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹414.00 | ₹414.00 |
| Open | ₹432.10 | ₹432.00 |
| Low | ₹432.00 | ₹431.00 |
| High | ₹458.50 | ₹458.70 |
| Last Trade | ₹445.65 | ₹445.55 |
Anand Rathi Share & Stock Brokers Ltd.
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/
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: anandrathibrokers.ipo@in.mpms.mufg.com
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
Anand Rathi Share IPO is a main-board IPO of 1,80,10,692 equity shares of the face value of ₹5 aggregating up to ₹745.64 Crores. The issue is priced at ₹414 per share. The minimum order quantity is 36.
The IPO opens on September 23, 2025, and closes on September 25, 2025.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Anand Rathi Share IPO using UPI as a payment gateway. Zerodha customers can apply in Anand Rathi Share IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Anand Rathi Share IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Anand Rathi Share IPO opens on September 23, 2025 and closes on September 25, 2025.
Anand Rathi Share IPO lot size is 36, and the minimum amount required for application is ₹14,904.
You can apply in Anand Rathi Share IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Anand Rathi Share IPO will be done on Friday, September 26, 2025, and the allotted shares will be credited to your demat account by Monday, September 29, 2025. Check the Anand Rathi Share IPO allotment status.
The Anand Rathi Share IPO listing date is on Tuesday, September 30, 2025.
Useful Articles
RHP