Sudeep Pharma IPO...
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Anand Rathi Share & Stock Brokers IPO
Anand Rathi Share IPO is a book-built issue with a fresh issue of ₹745.85 crore and the objective is to use the proceeds for long-term working capital requirements and general corporate purposes. Investors can bid for a minimum lot of 36 shares and in multiples. Book running lead managers to the IPO are Nuvama Wealth Management Limited, DAM Capital Advisors Limited and Anand Rathi Advisors Limited and the registrar is MUFG Intime India Private Limited. The IPO is opening on September 23, 2025 and will close on September 25, 2025. The IPO will be listed on NSE and BSE by September 30, 2025.
Company Background
Anand Rathi Group was founded in 1994 by Anand Rathi and Pradeep Kumar Gupta. The Anand Rathi Group has grown rapidly into a specialist financial services group. The company offers a broad range of financial solutions, including stock broking, wealth management, institutional equities, investment banking, insurance broking, commodities broking and capital market lending through a network of over 90 branches and more than 1,100 authorised persons. Anand Rathi believes in integrity and innovation and caters to a vast number of clients with the intention of meeting investment and financial needs across various asset classes.
Operations & Product Range
Facility & Production
Anand Rathi Share & Stock Brokers Limited offers share and stock broking services with over 90 branches and more than 1,100 authorised persons spread across the country. They are engaged in equity, commodity and currency broking as well as margin financing. The company use state-of-the-art back-end to trade in online and offline modes and is supported by a separate research & advisory team for providing insights and execution. This scalable business model serves a range of customer segments, including retail, institutional and high-net-worth clients.
Brands & Market Presence
The Group’s operating entity is marketed under the “Anand Rathi” brand, which enjoys strong visibility in the Indian financial services space. The full-service bank is present across Tier-1 and Tier-2 cities through its network of branches and digital offerings. The brand of Anand Rathi is known for its transparency, customer service and innovative financial products. For over three decades, the firm has earned and maintained trust serving a diverse investor base, from individual retail clients to large institutional investors throughout the country.
Revenue Channels
Revenue channels of Anand Rathi Share IPO include:
- ⦁ Its sources of revenue involve brokerage fees for equity, commodity and currency transactions carried out on its platforms.
- ⦁ Income from margin trading facilities is contributed through interest and financing charges.
- ⦁ Recurring fee income is made in wealth management and portfolio advisory services.
- ⦁ Investment banking and institutional equities bring in underwriting and advisory fees.
- ⦁ Insurance broking and commodities trading add complementary revenue layers.
Management & Shareholding
Promoters & Shareholding
Before the Anand Rathi Share IPO, promoters Anand Rathi and Pradeep Kumar Gupta held a significant majority stake. Post-IPO, the holding of promoters will fall as a result of the fresh issue; however, they will retain control. Control and strategic direction still rest with the promoters and top management of the company (or founders’ group), while opening up ownership to public investors.
Board Members
The Board of Anand Rathi Share IPO brings together seasoned professionals with valuable experience in finance, compliance and strategic management to oversee the company’s operations as it moves towards being a public entity. The merchant bankers orchestrating the IPO process are Nuvama Wealth Management, DAM Capital Advisors, Anand Rathi Advisors and MUFG Intime India.
WHAT IS GMP?
GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.
A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.
Anand Rathi Share & Stock Brokers IPO
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| - | - | - | - |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
Anand Rathi Share & Stock Brokers IPO Details
| Detail | Description |
|---|---|
| IPO Date | September 23, 2025 to September 25, 2025 |
| Listing Date | [.] |
| Face Value | ₹5 per share |
| Issue Price Band | ₹393 to ₹414 per share |
| Lot Size | 36 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 1,79,95,169 shares (aggregating up to ₹745.00 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 | 6,27,09,727 shares |
Anand Rathi Share & Stock Brokers IPO Timeline
| Detail | Description |
|---|---|
| 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 |
Anand Rathi Share & Stock Brokers IPO Lot Size
| 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 |
Anand Rathi Share & Stock Brokers IPO Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| Promoter Holding Pre Issue | 98.06% |
| Promoter Holding Post Issue | 69.90% |
Competitive Strength:
- ⦁ One of India’s leading full-service stockbrokers with over 30 years of presence in the market.
- ⦁ Extensive branch and digital network providing broad access to retail and institutional investors
- ⦁ Multi-product financial services, including broking, wealth management, investment banking, insurance and commodities.
- ⦁ Strong financial performance with revenue growth, healthy margins and increasing profitability.
- ⦁ Respected brand with deep industry experience and a customer-centric approach.
Anand Rathi Share & Stock Brokers IPO Financial Information
| Period Ended | Assets | Revenue | Profit After Tax | Net Worth | Total Borrowing | |||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 31 Mar 2025 | 3,365.00 | 847 | 103.61 | 503.76 | 905.57 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2024 | 2,585 | 683 | 77 | 393 | 879 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2023 | 1,628.78 | 468.7 | 37.75 | 265.23 | 423 | |||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 23.12% |
| ROCE | 21.32% |
| Debt/Equity | 1.8 |
| RoNW | 23.12% |
| PAT Margin | 12.23% |
| EBITDA Margin | 36.81% |
| Price to Book Value | 4.68 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 23.17 | 17 |
| P/E (x) | 17.87 | 25 |
Objectives of Anand Rathi Share IPO
- ⦁ Primarily to fund long-term working capital requirements essential to support business growth.
- ⦁ General corporate purposes to enhance operational capabilities, technology and compliance infrastructure.
- ⦁ Strengthen the company’s capital base to explore growth opportunities in financial services.
Conclusion
Anand Rathi Share IPO provides an opportunity to invest in a mature and diversified financial services business with a presence across the length and breadth of India’s capital markets. With its wide range of products, experienced management team and continued growth, it is a very attractive option for investors looking to invest in India’s financial intermediation space. The fresh funds from the IPO are backing the company’s ambitions to both further scale and innovate its way in the provision of services.
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Frequently asked Questions (FAQs )
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When does the Anand Rathi Share IPO open and close?
The IPO opens on September 23, 2025 and closes on September 25, 2025.
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What is the price band and minimum lot size?
The price band is ₹393 to ₹414 per share, with a minimum lot size of 36 shares.
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What is the total issue size of the Anand Rathi Share IPO and where will the shares be listed?
The IPO size is ₹745 crore via a fresh issue and shares will be listed on NSE and BSE around September 30, 2025.
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Who are the promoters of the Anand Rathi Share IPO?
Anand Rathi and Pradeep Kumar Gupta are the promoters.
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What are the main revenue sources?
Revenue streams include equity broking, margin trading, wealth management and investment banking fees.
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How will the Anand Rathi Share IPO proceeds be used?
Proceeds will be used for long-term working capital and general corporate purposes.
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What distinguishes Anand Rathi in the market?
It has extensive experience, diversified financial offerings and pan-India presence.
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