Anand Rathi Share and Stock Brokers Limited (ARSSBL) is a full-service broking company and part of the Anand Rathi Group. With over three decades of experience, it provides a wide range of investment and wealth solutions under the trusted ‘Anand Rathi’ brand.
The company offers broking, margin trading, and financial product distribution across equity, derivatives, commodities, and currency markets. Its clients include retail investors, HNIs, ultra-HNIs, and institutions.
As of September 30, 2024, ARSSBL served customers through 90 branches, 1,123 authorized agents in 333 cities, and digital platforms, covering Tier 1, Tier 2, and Tier 3 markets.
Key offerings include:
- Broking services across equity, derivatives, commodities, and currency.
- Margin Trading Facility, allowing clients to leverage eligible collateral.
- Distribution of third-party products like mutual funds, AIFs, bonds, FDs, and PMS via relationship managers and online channels.
As of September 30, 2024, the company employed 1,985 permanent staff, with 84.86% of active clients over 30 years old.
Anand Rathi Share IPO – Details
| IPO Opening Date | 23 September 2025 |
| IPO Closing Date | 25 September 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 1,79,95,169 Shares Worth ₹745.00 Crore Fresh Issue: 1,79,95,169 Shares Worth ₹745.00 Crore |
| Face Value | ₹5 per equity share |
| IPO Price | ₹393 – ₹414 per share |
| Market Lot | 36 Shares |
| Min Order | 36 Shares [ 1 Lot ] |
| Listing At | BSE, NSE |
| Register | MUFG Intime India Pvt.Ltd. |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Anand Rathi Share IPO – Date Schedule
| IPO Open Date | 23 September 2025 |
| IPO Close Date | 25 September 2025 |
| Basis of Allotment | 26 September 2025 |
| Initiation of Refund | 29 September 2025 |
| Credit of Shares to Demat Account | 29 September 2025 |
| IPO Listing Date | 30 September 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 25, 2025 |
Anand Rathi Share IPO – Lots Size & Price
| 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 | 2412 | ₹9,98,568 |
| B-HNI (Min) | 68 | 2448 | ₹10,13,472 |
Competitive Strength
- The highest ARPC amongst the peer set.
- Strategic use of MTF Business to drive higher ARPC.
- Full service brokerage house with diversified revenue streams.
- Pan India presence combined with robust digital capabilities for client acquisition and servicing.
- Established brand with more than a 3 decade legacy backed by experienced Promoters and a strong management team.
- Strong track record of financial performance and consistent growth.
Company Promoters
- Anand Nandkishore Rathi
- Pradeep Navratan Gupta
- Priti Pradeep Gupta
- Anand Rathi Financial Services Limited
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2022 | ₹423.78 Cr | ₹360.19 Cr | ₹50.39 Cr | ₹275.52 Cr |
| 31 March 2023 | ₹468.70 Cr | ₹417.71 Cr | ₹37.84 Cr | ₹423.00 Cr |
| 31 March 2024 | ₹683.26 Cr | ₹567.86 Cr | ₹77.42 Cr | ₹879.24 Cr |
| 31 March 2025 | ₹847.00 Cr | ₹706.63 Cr | ₹103.61 Cr | ₹905.57 Cr |
Key Performance Indicator
| 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 |
| Pre IPO | Post IPO | |
| EPS (₹) | 23.17 | 16.52 |
| P/E (x) | 17.87 | 25.06 |
Object Of The Issue
| Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|
| Funding long-term working capital requirements of the Company. | ₹550.00 |
| General corporate purposes. |
Anand Rathi Share IPO Peer Comparison
| S. No. | Face Value (₹) | Company Name | P/E Ratio |
|---|---|---|---|
| 1 | 1 | Motilal Oswal Financial Services | 20.91 |
| 2 | 2 | IIFL Capital Services Limited | 13.49 |
| 3 | 1 | Geojit Financial Services | 11.53 |
| 5 | 10 | Angel One Limited | 17.42 |
✅Strengths
- Backed by the strong Anand Rathi brand with 30+ years of experience.
- Full-service model offering broking, margin trading, and product distribution.
- Wide reach with 90 branches, 1,123 agents, 333 cities, plus digital platforms.
- Serves retail, HNIs, and institutions with a mature client base (85% above 30 yrs).
- Strong research, advisory, and experienced workforce (~2,000 employees).
⚠️Risks
- Business depends on market conditions and trading volumes.
- Highly regulated sector; non-compliance may impact operations.
- Pending litigations could affect reputation.
- Competition from discount and full-service brokers.
- Exposure to tech failures and cyber risks.
- Significant related party transactions within the group.
Anand Rathi Share IPO Promoter Holding
| Pre Issue Share Holding | 98.06% |
| Post Issue Share Holding | 69.90% |
Anand Rathi Share IPO Prospectus
Company Contact Information
| Anand Rathi Share & Stock Brokers Ltd. Express Zone, A Wing, 10th Floor, Western Express Highway, Goregaon (E), Mumbai – Goregaon, Maharashtra, 400063 Phone: +91 22 – 6281 70 Email: secretarial@rathi.com Website: https://www.anandrathi.com/ |
Anand Rathi Share IPO Registrar
| MUFG Intime India Pvt.Ltd. Phone: +91-22-4918 6270 Email: anandrathibrokers.ipo@linkintime.co.in Website: https://linkintime.co.in/Initial_Offer/public-issues.html |
Anand Rathi Share IPO Lead Manager(s)
| 1. DAM Capital Advisors Limited 2. Anand Rathi Advisors Limited 3. Nuvama Wealth Management Limited |
Anand Rathi Share IPO FAQs
| What is Anand Rathi Share IPO? Anand Rathi Share IPO is a main-board IPO. The issue is priced at ₹393 to ₹414 per equity share. The IPO is to be listed on the BSE & NSE. |
| When will Anand Rathi Share IPO open? The IPO is to open on 23 September 2025 for QIB, NII, and Retail Investors. |
| What is Anand Rathi Share IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| What is Anand Rathi Share IPO Size? Anand Rathi Share IPO size is ₹745.00 Crore. |
| What is the Anand Rathi Share IPO Minimum and Maximum Lot Size for Retail? The minimum bid is 36 Shares with ₹14,904, while the maximum bid is 468 Shares with ₹1,93,752. |
| What is the Anand Rathi Share IPO Allotment Date? Anand Rathi Share IPO allotment date is 26 September 2025. |
| What is the Anand Rathi Share IPO Listing Date? Anand Rathi Share IPO listing date is 30 September 2025. The IPO is to be listed on BSE and NSE. |
