Anand Rathi Share & Stock Brokers IPO Day 1: Check GMP, Subscription Status & Key Highlights

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Anand Rathi Share & Stock Brokers Limited launched its Initial Public Offering (IPO) today, September 23, 2025, for public subscription. The issue will remain open till September 25, 2025. The allotment is likely to be finalised on Friday, September 26, 2025. The IPO will list on both the BSE and NSE, with a tentative listing date scheduled for Tuesday, September 30, 2025.

Anand Rathi Share & Stock Brokers – IPO Details

The Anand Rathi IPO is a book-building issue of ₹745 crores, comprising a fresh issue of 1.80 crore shares. The price band has been set between ₹393 and ₹414 per share. The minimum lot size is 36 shares, requiring a minimum investment of ₹14,904.

The company had already raised ₹220.5 crore from anchor investors on September 22, 2025.

ICICI Securities Limited, Axis Capital Limited, and HDFC Bank Limited are the book-running lead managers to the issue, while Link Intime India Private Limited is the registrar.

Anand Rathi IPO Day 1 Subscription Status

(September 23, 2025, 5:00 PM)

On Day 1, the Anand Rathi Share & Stock Brokers IPO was subscribed 0.40 times overall. The subscription across categories stood as follows:

Retail Investors: 0.53x
Qualified Institutional Buyers (QIB): 0.01x
Non-Institutional Investors (NII): 0.53x
Employees: 1.42x

Utilisation of Proceeds

The net proceeds from the fresh issue will be utilised for:

Funding long-term working capital requirements
General corporate purposes

Anand Rathi IPO GMP Today

According to Business Standard, the Grey Market Premium (GMP) for Anand Rathi Share & Stock Brokers stood at ₹31 on September 23, 2025, 5:00 PM. This indicates an estimated listing price of ₹446 per share, suggesting a 7.73% gain per share over the upper price band of ₹414.

Source: Business Standard Media Report dated September 23, 2025

Disclaimer: GMP is an unauthenticated market-related news source and has no discernible basis. The same is quoted here as per media reports for information purposes only. Investors should conduct their own due diligence before making any investment decision. We neither deal in nor endorse grey market trading.

About Anand Rathi Share & Stock Brokers

Anand Rathi Share & Stock Brokers Limited is a full-service brokerage firm offering equity and derivatives broking, margin trading, and distribution of financial products. Operating under the brand name ‘Anand Rathi’, the company serves retail, HNI, UHNI, and institutional clients.

Presence across 90 branches in 54 cities
Strong client acquisition momentum in recent years
Diversified business across broking, advisory, and financial product distribution

Broker Recommendations

The ET Intelligence Group noted that the IPO is valued at a P/E of 25x based on trailing earnings, compared with peers like Motilal Oswal (20.9x) and Geojit Financial Services (11.5x). Analysts highlighted the company’s rising revenues and expanding client base but pointed out the higher valuation compared to peers.

The report suggests the issue is suitable for long-term investors with a higher risk appetite.

Valuation and Outlook

At the upper band of ₹414, the post-issue market cap stands at around ₹7,452 crore. While the IPO appears fully priced, the strong growth in active clients and near-doubling of revenues in recent years indicate robust business potential. For investors seeking exposure to India’s expanding capital markets and brokerage sector, the IPO presents a promising long-term opportunity.

Disclaimer: This article is for educational purposes only and should not be construed as investment advice. Investors are advised to consult their financial advisors before making investment decisions.