Anand Rathi Share & Stock Brokers Subscription
Last updated on 25-Sep-2025 18:21:09
| Category | Offered | Applied | Times |
|---|---|---|---|
| QIBs | 3542964 | 163848024 | 46.25 |
| HNIs | 2660715 | 80242380 | 30.16 |
| HNIs 10+ | 1773810 | 56783412 | 32.01 |
| HNIs 2+ | 886905 | 23458968 | 26.45 |
| Retail | 6208335 | 31297104 | 5.04 |
| Employees | 257069 | 694620 | 2.7 |
| Total | 12669083 | 276082128 | 21.79 |
Application-Wise Breakup (Approx. no. of Apps) | |||
|---|---|---|---|
| Category | Reserved | Applied | Times |
| HNIs (10L+) | 3519 | 20167 | 5.73 |
| HNIs (2-10L) | 1760 | 45102 | 25.63 |
| Retail | 172454 | 722098 | 4.19 |
| Employee | - | 8242 | - |
| Total Applications: 795609 | |||
| © IPO Premium | |||
| Subscription Demand (in ₹ crore) | |||
|---|---|---|---|
| Category | Offered | Demand | Times |
| QIBs | 146.68 | 6783.31 | 46.25 |
| FIIs | - | 1616.77 | - |
| DIIs | - | 3971.45 | - |
| Mutual funds | - | 109.98 | - |
| Others | - | 1085.1 | - |
| HNIs | 110.15 | 3322.03 | 30.16 |
| HNIs 10+ | 73.44 | 2350.83 | 32.01 |
| HNIs 2+ | 36.72 | 971.2 | 26.45 |
| Retail | 257.03 | 1295.7 | 5.04 |
| Employees | 10.64 | 28.76 | 2.7 |
| Total | 524.5 | 11429.8 | 21.79 |
| QIB Interest Cost per share (7 Days) | |||||
|---|---|---|---|---|---|
| @7% ₹25.7 | @8% ₹29.4 | @9% ₹33 | @10% ₹36.7 | @11% ₹40.4 | @12% ₹44.1 |
Anand Rathi Share & Stock Brokers Lot(s) Distribution
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| Retail | 1 | 36 | 14904 | 172454 |
| sHNI | 14 | 504 | 208656 | 1760 |
| bHNI | 68 | 2448 | 1013472 | 3519 |
Anand Rathi Share & Stock Brokers Reservation
| Category | Shares Offered | % |
|---|---|---|
| Anchor | 5326086 | 29.6% |
| QIB | 3542964 | 19.69% |
| HNI | 2660715 | 14.79% |
| Retail | 6208335 | 34.5% |
| Employee | 257069 | 1.43% |
| Total | 17995169 | 100% |
Anand Rathi Share & Stock Brokers About
IPO Details
| Total Issue Size | 1,79,95,169 shares (aggregating up to ₹745.00 Cr) |
| Fresh Issue | 1,79,95,16 shares (aggregating up to ₹745.00 Cr) |
| 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 |
| Employee Discount | ₹25/share |
Key Performance Indicator
| KPI | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|
| ROE | 23.12% | 23.50% | 15.32% |
| ROCE | 21.32% | 21.48% | 16.72% |
| DEBT/ EQUITY | 1.71 | 2.14 | 1.48 |
| P/E Pre IPO | 17.87 | ||
| P/E Post IPO | 25.06 |
Financial Details (In ₹Crores)
| Period Ended | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|
| Assets | 3,365.00 | 2,585.10 | 1,628.78 |
| Total Income | 847 | 683.26 | 468.7 |
| Profit After Tax | 103.61 | 77.29 | 37.75 |
| EBITDA | 311.27 | 230.58 | 115.07 |
| NET Worth | 503.76 | 392.66 | 265.23 |
| Reserves and Surplus | 481.58 | 370.48 | 245.07 |
| Total Borrowing | 905.57 | 879.24 | 423 |
Peer Comparison (Valuation)
| Company | P/E (x) | CMP*(₹) | Face value (₹) |
|---|---|---|---|
| Anand Rathi Share and Stock Brokers Limited | - | - | 5 |
| Motilal Oswal Financial Services | 20.91 | 857.35 | 1 |
| IIFL Capital Services Limited | 13.49 | 295.35 | 2 |
| Geojit Financial Services Limited | 11.53 | 71.11 | 1 |
| Angel One Limited | 17.42 | 2,209.00 | 10 |
| Company | NAV/Share (₹) | RoNW (%) | EPS (Basic) (₹) |
|---|---|---|---|
| Anand Rathi Share and Stock Brokers Limited | 113.57 | 23.12 | 22.36 |
| Motilal Oswal Financial Services | 185.73 | 25.21 | 41.83 |
| IIFL Capital Services Limited | 80.98 | 33.17 | 23.06 |
| Geojit Financial Services Limited | 44.57 | 15.49 | 6.18 |
| Angel One Limited | 624.53 | 7.78 | 130.05 |
Company Overview
Incorporated: 1991
Group: Part of the Anand Rathi Group (diverse financial services)
Nature of Business: Full-service broking & financial product distribution
Clients: Retail, HNIs, UHNWIs, and institutions
Network (as of Mar 31, 2025):
90 branches
1,125 authorized agents across 290 cities
Strong digital/online platforms
Client Demographics: 84.36% of active clients are 30+ years old
Offerings & Services:
Broking: Equity, derivatives, commodities, currency
Margin Trading: Leverage against eligible collateral
Investment Distribution: Mutual funds, AIFs, FDs, bonds, PMS
Employees: 2,082 permanent staff (as of Mar 31, 2025)
Competitive Edge: 3 decades of experience, wide branch/agent network, strong digital presence, and diversified financial offerings.
Strength
High ARPC advantage – The company enjoys the highest Average Revenue Per Client (ARPC) among peers, ensuring superior monetization per customer.
Strong MTF-led growth – Strategic use of the Margin Trading Facility (MTF) business helps drive higher ARPC and enhances overall profitability.
Diversified full-service model – As a full-service brokerage house, the company benefits from multiple revenue streams across broking, MTF, and financial product distribution.
Weakness
Revenue concentration risk – A substantial portion of revenues comes from broking and MTF business; slowdown in either could materially impact financial performance.
Market dependency – Business is highly sensitive to economic cycles and securities market volatility in India and globally, which may disrupt revenues and cash flows.
Regulatory compliance risk – The company has received a SEBI notice regarding “fit and proper” criteria under SEBI (Intermediaries) Regulations, 2008; any adverse order may significantly affect operations and reputation.
Anand Rathi Share & Stock Brokers Lead Manager(s)
Anand Rathi Share & Stock Brokers Address
Express Zone, A Wing,
10th Foor, Western Express Highway,
Goregaon (E), Mumbai -
Goregaon, Maharashtra, 400063
Phone: +91 22 - 6281 70
Email: secretarial@rathi.com
Website: https://www.anandrathi.com/
Anand Rathi Share & Stock Brokers Registrar
MUFG Intime India Private Limited (Link Intime)
Link Intime India Private Ltd
C 101, 247 Park,
L.B.S.Marg Vikhroli (West),
Mumbai - 400083
Anand Rathi Share & Stock Brokers Reviewers
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