Anand Rathi Share & Stock Brokers Ltd. IPO

Incorporated in 1991, Anand Rathi Share and Stock Brokers Limited is a Full-Service broking company. The Company is a part of the Anand Rathi group which carries out a diverse range of financial services

The company provides broking services, margin trading, and financial product distribution under the ‘Anand Rathi’ brand, offering investment options in equity, derivatives, commodities, and currency markets to various clients.

As of March 31, 2025, 84.36% of the company’s active clients were over 30 years old. With three decades of experience and diverse offerings, the company is well-positioned for growth.

As of March 31, 2025, the company offers broking services through 90 branches, 1,125 authorized agents across 290 cities, and online platforms, serving clients in Tier 1, Tier 2, and Tier 3 cities.

Offerings & Services:

  • Broking Services: The company provides broking services to retail, high net worth, ultra-high net worth individuals, and institutions across equity, derivatives, commodities, and currency markets through branches, authorized agents, and digital platforms.
  • Margin Trading Facility: The company offers margin trading facilities, allowing clients to leverage eligible collateral for equity cash delivery trades. Funding is based on margin requirements set by stock exchanges.
  • Distribution of investment products: The company distributes third-party financial products, including mutual funds, AIFs, fixed deposits, bonds, and portfolio management services, through relationship managers and digital platforms.

As of March 31, 2025, the company had 2,082 permanent employees.

Competitive Strengths:

  • The highest ARPC amongst peer set
  • Strategic use of MTF Business to drive higher ARPC
  • Full service brokerage house with diversified revenue streams
  • Pan India presence combined with robust digital capabilities for client acquisition and servicing
  • Established brand with more than a 3 decade legacy backed by experienced Promoters and a strong management team
  • Strong track record of financial performance and consistent growth

Anand Rathi Share & Stock Brokers Ltd. Financial Information (Restated Consolidated)

Anand Rathi Share & Stock Brokers Ltd.’s revenue increased by 24% and profit after tax (PAT) rose by 34% between the financial year ending with March 31, 2025 and March 31, 2024.

Period Ended31 Mar 202531 Mar 202431 Mar 2023
Assets3,365.002,585.101,628.78
Total Income847.00683.26468.70
Profit After Tax103.6177.2937.75
EBITDA311.27230.58115.07
NET Worth503.76392.66265.23
Reserves and Surplus481.58370.48245.07
Total Borrowing905.57879.24423.00
Amount in ₹ Crore

Key Performance Indicator (KPI)

The market capitalization of Anand Rathi Share IPO is ₹2596.18 Cr.

KPI as of Mon, Mar 31, 2025.

KPIValues
ROE23.12%
ROCE21.32%
Debt/Equity1.80
RoNW23.12%
PAT Margin12.23%
EBITDA Margin36.81%
Price to Book Value4.68
 Pre IPOPost IPO
EPS Rs23.1716.52
P/E (x)17.8725.06
Note:
  • The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2025 that is available in RHP.
  • The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of March 31, 2025 that is available in RHP.

Objects of the Issue (Anand Rathi Share IPO Objectives)

The Company Anand Rathi Share IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:

S.No.Objects of the IssueExpected Amount (₹ in crores)
1Funding long-term working capital requirements of the Company550.00
2General corporate purposes 

Anand Rathi IPO Details

IPO DateSeptember 23, 2025 to September 25, 2025
Listing Date[.]
Face Value₹5 per share
Issue Price Band₹393 to ₹414 per share
Lot Size36 Shares
Sale TypeFresh Capital
Total Issue Size1,79,95,169 shares
(aggregating up to ₹745.00 Cr)
Employee Discount₹25.00
Issue TypeBookbuilding IPO
Listing AtBSE, NSE
Share Holding Pre Issue4,47,14,558 shares
Share Holding Post Issue6,27,09,727 shares

Anand Rathi IPO Promoter Holding

Anand Nandkishore Rathi, Pradeep Navratan Gupta, Priti Pradeep Gupta and Anand Rathi Financial Services Limited are the promoters of the company.

Share Holding Pre Issue98.06%
Share Holding Post Issue69.60

SHARIAH SCREENING for - Anand Rathi Share & Stock Brokers Ltd. IPO

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BUSINESS SCREEN

FINANCIAL RATIOS

As per our analysis and Based on the information we have, this is the output.
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