Anand Rathi Share And Stock Brokers Limited
Minimum investment
Bidding date
23 Sep - 25 Sep 2025
Price range
₹393 - ₹414
Minimum quantity
36
Minimum investment
₹14,148
Issue size
₹745 Cr.
IPO doc (link)
RHP docs
Listing exchange
NSE/BSE
Category | Subscription |
|---|---|
Qualified Institutional Buyers | 28.37x |
Retail Individual Investor | 2.85x |
Non-Institutional Investor | 19.04x |
Others | - |
Total | 2.85x |
Incorporated in 1991, Anand Rathi Share & Stock Brokers Limited is a full-service brokerage company and part of the Anand Rathi Group. The company provides a wide range of financial services, including broking, margin trading, and distribution of investment products under the ‘Anand Rathi’ brand.
Its offerings cover equity, derivatives, commodities, and currency markets, catering to retail, HNI, ultra-HNI, and institutional clients through branches, authorized agents, and digital platforms.
As of March 31, 2025, the company operates through 90 branches, 1,125 authorized agents across 290 cities, and online platforms, serving a broad base of clients across Tier 1, Tier 2, and Tier 3 cities. It also distributes third-party financial products such as mutual funds, AIFs, bonds, FDs, and portfolio management services.
The company has 2,082 permanent employees and is backed by experienced promoters with more than three decades of industry presence.
30+ Years of Legacy: Anand Rathi Share & Stock Brokers has more than three decades of experience in the financial services industry, which adds strong credibility and trust among investors.
Diversified Revenue Streams: The company operates as a full-service brokerage, generating income from broking, margin trading, and distribution of financial products, ensuring stable revenue flow.
Pan-India Presence with Digital Reach: With branches, authorized agents, and online platforms across India, the company combines physical presence with strong digital capabilities for effective client acquisition and servicing.
Experienced Promoters and Management: The business is backed by seasoned promoters and a professional management team with proven expertise in financial markets.
Consistent Financial Growth: Over the years, the company has shown steady financial performance with strong return ratios, including an ROE of 23.12% and ROCE of 21.32% in FY25.
High Competition in Brokerage Industry: The Indian brokerage sector is highly competitive, with several established and discount players, which could impact market share and margins.
Dependence on Market Conditions: The company’s business is directly linked to stock market performance and investor sentiment, making it vulnerable to market volatility.
Leveraged Balance Sheet: With a debt-to-equity ratio of 1.80, the company carries relatively high leverage, which may impact future expansion and profitability.
Regulatory Risks: As a SEBI-regulated entity, the company must comply with stringent norms. Any regulatory changes can affect its operations and profitability.
Earnings Dilution Post IPO: The EPS is expected to decline from Rs. 23.17 (pre-IPO) to Rs. 16.52 (post-IPO), which could impact valuation attractiveness for new investors.
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