Anand Rathi Share IPO Opens: Should You Jump In?

With over three decades of experience, Anand Rathi Share IPO and Stock Brokers Limited is not just another brokerage—it’s a full-service financial powerhouse, offering stock, derivatives, commodities, and currency broking, along with margin trading and distribution of investment products. For investors, this IPO represents a chance to own a slice of a firm trusted by millions across India.

IPO Snapshot

• Issue Type: Book-built IPO

• Fresh Issue: 1.80 crore shares (~₹745 crore)

• Face Value: ₹5 per share

• Lot Size: 36 shares (minimum investment ₹14,904)

• Maximum Retail Lot: 13 lots (~₹1,93,752)

• Listing: NSE & BSE, expected September 30, 2025

• Allotment Date: September 26, 2025

• Refund Initiation: September 29, 2025

The IPO also reserves 50% for QIBs, 35% for retail investors, and 15% for NIIs, ensuring a balanced allocation across investor categories.

Financials That Catch the Eye

Anand Rathi’s financial growth story adds to the buzz:

• Revenue: ₹468 crore (FY23) → ₹847 crore (FY25)

• PAT: ₹37.7 crore → ₹103.6 crore

• EBITDA: ₹115 crore → ₹311 crore

• Net Worth: ₹265 crore → ₹503 crore

Such consistent growth, combined with a well-diversified business model, positions the IPO as one to watch. Analysts note that while the P/E ratio of 17.7x is slightly higher than the industry average of 15.8x, the strong fundamentals and nationwide presence justify investor interest.

Grey Market Buzz: GMP Signals Potential Listing Gains

The grey market premium (GMP) is already generating headlines. As of September 19, 2025, the GMP stands at ₹50, hinting at a potential listing price of ₹464 per share—about 12% above the upper end of the price band.

Market watchers say this modest premium signals healthy, but cautious demand, reflecting investor optimism for long-term growth rather than quick listing gains.

Promoters & Management

The IPO is backed by the company’s seasoned promoters: Anand Nandkishore Rathi, Pradeep Navratan Gupta, Priti Pradeep Gupta, and Anand Rathi Financial Services Ltd.

• Pre-issue promoter holding: 98.06%

• Post-issue holding: 69.90%

With a strong leadership team and decades of experience, the company brings stability and credibility to the table, attracting retail and institutional investors alike.

Why Analysts Are Excited

Market experts highlight several reasons why the Anand Rathi Share IPO is garnering attention:

• Brand Legacy: 30+ years of nationwide recognition.

• Diverse Revenue Streams: Broking, margin trading, and product distribution.

• Strong ARPC (Average Revenue Per Client): Highest among peers.

• Digital-First Operations: Seamless client onboarding and trading platforms.

• Scalable Business Model: Nationwide presence with consistent financial performance.

While the IPO is priced slightly aggressively, the company’s fundamentals make it a long-term growth story rather than a quick speculative play.

Risks Investors Should Note

• Highly regulated industry, subject to SEBI and financial compliance.

• Business performance is linked to market conditions and volatility.

• Facing stiff competition from discount and full-service brokers.

Despite these risks, the company’s robust balance sheet and diversified offerings mitigate potential downside, making it an attractive addition for investors seeking stability in financial services.

Key Dates to Remember

• IPO Opening: September 23, 2025

• IPO Closing: September 25, 2025

• Allotment: September 26, 2025

• Refunds: September 29, 2025

• Expected Listing: September 30, 2025

Investors can track allotment status via the BSE IPO portal or the registrar MUFG Intime India Pvt. Ltd.

Bottom Line: Should You Apply?

The Anand Rathi Share IPO is shaping up as a must-watch offering for long-term investors. With strong growth, diversified revenue streams, and a trusted brand, the company offers credible long-term potential.

• Upside: Strong fundamentals, nationwide presence, robust financial performance.

• Caution: Slightly high valuations, market dependency, and regulatory risks.

• GMP: Suggests moderate listing gains (~12%), indicating steady investor interest.
  
  

For retail investors looking for exposure in financial services with a long-term growth perspective, the IPO is worth considering.

Disclaimer: This article is for information and educational purposes only. It is not investment advice. Investors should consult certified financial advisors before applying to any IPO.