Anand Rathi Share sets IPO price band at ₹393-414; to raise ₹745 crore

Anand Rathi Share and Stock Brokers: The subscription window will remain open from September 23 to September 25

Mumbai-based stockbroker Anand Rathi Share and Stock Brokers is set to launch its maiden public issue on Tuesday, September 23, 2025. The company has fixed the price band for the issue in the range of ₹393 to ₹414 per share. Through this IPO, Anand Rathi aims to raise ₹745 crore, which includes a fresh issue of 18 million equity shares. There is no offer for sale (OFS) component.

 

According to the red herring prospectus (RHP), not more than 50 per cent of the issue is reserved for qualified institutional buyers (QIBs), not less than 35 per cent for retail investors, and not less than 15 per cent for non-institutional investors (NIIs). 

 

 

The subscription window will remain open from September 23 to September 25, while the anchor investor portion will open a day earlier, on Monday, September 22.

 

The basis of allotment of shares is expected to be finalised on Friday, September 26, 2025. Shares of the company are likely to be listed on both the NSE and BSE on Tuesday, September 30, 2025. MUFG Intime India has been appointed as the registrar to the issue. Nuvama Wealth Management, DAM Capital Advisors, and Anand Rathi Advisors are acting as the book-running lead managers.

 

The lot size for the Anand Rathi Share and Stock Brokers IPO is set at 36 shares per application. Based on the upper end of the price band (₹414 per share), a retail investor would need to invest a minimum of ₹14,904 to apply for one lot.

 

According to the RHP, the company plans to utilise ₹550 crore from the net issue proceeds for funding long-term working capital requirements of the company. The remaining funds will be used for general corporate purposes.  

About Anand Rathi Share and Stock Brokers

Incorporated in 1991, Anand Rathi Share and Stock Brokers is a Full-Service broking company. It is a part of the Anand Rathi Group, which offers a wide range of financial services. The company provides broking services, margin trading facility and distribution of financial products under the brand ‘Anand Rathi’ to a diverse set of clients across retail, high net worth individuals, ultra-high net worth individuals and institutions. Anand Rathi's investment offerings span across a wide array of asset classes like equity, derivatives, commodities, and currency markets. As of March 31, 2025, the company offers broking and other financial services through a network of 90 branches spread across 54 cities in India.

Anand Rathi Share and Stock Brokers financial overview

In the financial year ended March 31, 2025 (FY25), the company reported revenue from operations of ₹845.69 crore, up 24.04 per cent from ₹681.8 crore in the previous fiscal. The company's earnings before interest, tax, depreciation and amortisation (Ebitda) rose 36.81 per cent to ₹311.26 crore from ₹230.58 crore in FY24. The company's profit after tax (PAT) stood at ₹103.6 crore in FY25 compared to ₹77.29 crore in FY24. As of March 31, 2025, Anand Rathi Shares' total number of clients was 886,644 and active clients were 221,510.