Anand Rathi Share & Stock Brokers came to market through an IPO that opened on 23 September 2025 and closed on 25 September 2025, and the shares listed on 30 September 2025 on BSE, NSE. The price band was ₹393 to ₹414 per share and one lot was 36 shares, so the minimum application was ₹14,904. The issue size was ₹745 crore. The whole issue was fresh shares, so the money raised went to the company.
MUFG Intime India Pvt.Ltd was the registrar to the issue, and Nuvama Wealth Management Ltd., Dam Capital Advisors Ltd., Anand Rathi Advisors Ltd were the lead managers.
As of 25 September 2025.
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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 above 30 years of age.
With experience spanning two decades and varied offerings, the company is poised for expansion. As of March 31, 2025, the company provides broking services through 90 offices, 1,125 authorized agents spread over 290 cities, and online channels, catering to clients from Tier 1, Tier 2, and Tier 3 cities. Offerings & Services Broking Services:
The business offers broking services to retail, high net worth, ultra-high net worth individuals, and institutions in equity, derivatives, commodities, and currency markets through branches, authorized agents, and online platforms. Margin Trading Facility: The business provides margin trading facilities wherein clients may use eligible collateral to avail leverage on equity cash delivery trades. Funding is on the basis of margin requirements established by stock exchanges. Distribution of investment products:
The firm distributes third-party financial products such as mutual funds, AIFs, fixed deposits, bonds, and portfolio management services through relationship managers and digital platforms. Permanent employees as of March 31, 2025 were 2,082.
As described in the offer document.
| Metric | 31-Mar-25 | 31-Mar-24 | 31-Mar-23 |
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Anand Rathi Share IPO to open on September 23: Investors buy shares worth Rs 220.5 crore through anchor book. The biggest investors among them were HDFC Mutual Fund, Kotak Mahindra AMC, Quant Mutual Fund, Aditya Birla Sun Life AMC, SBI Life Insurance, and Singularity AMC, with each of them selecting 4.85 lakh shares for Rs 20.08 crore.
Additionally, Morgan Stanley, Pinebridge Global Fund, Kotak Mahindra Life Insurance, and 360 ONE each purchased 3.62 lakh shares of Anand Rathi worth Rs 15 crore. Apart from them, Bandhan AMC, Sanshi Funds, BNP Paribas, ITI Mutual Fund, and Rajasthan Global Securities also invested in the company through anchor book.
Anand Nandkishore Rathi, Pradeep Navratan Gupta, Priti Pradeep Gupta, Anand Rathi Financial Services Limited. Promoter holding 98.06% before the issue and 69.90% after.
Work out the listing gain for this IPO
If the retail portion is not fully subscribed, every valid application is allotted in full. If it is oversubscribed, SEBI's rules require that as many applicants as possible receive at least one lot, so the shares are allotted by a computerised lottery across all valid applications, one lot each, until the retail portion is exhausted. Applying for more lots does not improve your chance in a lottery; it only increases what you receive if the issue is under-subscribed.
The basis of allotment document, published by the registrar on the allotment date, states the ratio: for example, one applicant in seven received one lot.
Allotment status is published by the registrar on its website, searchable by PAN, application number or demat account, and also on the exchange's website. Allotted shares are credited to the demat account the day before listing, and blocked money for unsuccessful applications is released the same day. The Rupix app can check allotment status by PAN once the registrar publishes it.
Shares list within three working days of the issue closing. On listing day the exchanges run a special pre-open session from nine o'clock, during which orders are collected and an opening price is discovered from them; trading in the share begins after that, usually around ten. The opening price is the listing price that appears on this page once the issue has listed, and the listing gain or loss is the difference between it and the issue price.
For a mainboard issue, the share then trades in the normal way with the exchange's price band for a new listing. For an SME issue, shares trade in lots rather than one at a time, and the market can be thin, so selling on listing day is not always possible at the opening price. Capital gains on shares sold within a year of allotment are short-term and taxed at the short-term rate.
Anand Rathi Share & Stock Brokers IPO was a ₹745 crore book-built issue, made up entirely of a fresh issue. It was priced at ₹393–₹414 per share with a lot size of 36 shares (₹14,904). The IPO was open from September 23 to September 25, 2025 and was subscribed 21.79x. Shares listed on BSE and NSE on September 30, 2025 at ₹432, a 4.3% premium to the issue price of ₹414. MUFG Intime India Pvt. Ltd. is the registrar.
Nuvama Wealth Management Ltd. and 2 other book running lead managers manage the issue.
The price band of Anand Rathi Share & Stock Brokers IPO is ₹393 to ₹414 per share.
The lot size of Anand Rathi Share & Stock Brokers IPO is 36 shares.
The minimum investment for Anand Rathi Share & Stock Brokers IPO is approximately ₹14,904 based on the upper price band.
The allotment date of Anand Rathi Share & Stock Brokers IPO is Sep 26, 2025.
Anand Rathi Share & Stock Brokers IPO's final recorded GMP before listing was ₹27 per share (a 7% premium over the ₹414 upper price band). The shares listed at ₹432. GMP is unofficial and does not forecast or guarantee the actual listing price.
Anand Rathi Share & Stock Brokers IPO listed on Sep 30, 2025. It was issued at ₹432.0(NSE) and is currently around ₹471.35 as on 2-Nov-2026 3:30 PM, which is approximately 13.9% versus issue price. The 52-week high is ₹794.85.
You can check Anand Rathi Share & Stock Brokers IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the Anand Rathi Share & Stock Brokers IPO allotment status on Rupix for quick and easy access.
₹393 to ₹414 per share, against a face value of ₹5. Most applicants bid at the cut-off price, the top of the band, so that the application was valid whatever price the issuer finally fixed.
One lot was 36 shares, and every application had to be a whole number of lots. At the top of the band that made the minimum application ₹14,904.
₹14,904, for one lot of 36 shares at the top of the price band. The amount was blocked in the applicant's bank account through ASBA or a UPI mandate while the issue was open, and released on the allotment date to applicants who were not allotted shares.
It opened on 23 September 2025 and closed on 25 September 2025.
The basis of allotment was published on 26 September 2025 by MUFG Intime India Pvt.Ltd, and allotted shares were credited to demat accounts before listing.
The shares listed on 30 September 2025 on BSE, NSE.
The issue size was ₹745 crore. The fresh issue was 1,79,95,169 shares (aggregating up to ₹745 crore).