Anand Rathi Share IPO
ListedMainboardOpens 23 September 2025Closes 25 September 2025
Anand Rathi is a full-service brokerage house in India with over 30 years of experience. The company provides a wide range of financial services, including broking, margin trading facilities, and the distribution of…
Anand Rathi is a full-service brokerage house in India with over 30 years of experience. The company provides a wide range of financial services, including broking, margin trading facilities, and the distribution of financial products to a diverse clientele of retail, high net worth individuals, and institutions. The company's services cover multiple asset classes such as equity, derivatives, commodities, and currency markets. Anand Rathi operates through a multi-channel presence, including 90 branches in 54 cities, a network of 1,123 authorized persons in 333 cities, and robust online and digital platforms, enabling it to serve clients across Tier 1, Tier 2, and Tier 3 cities.
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Key ratios
As per RHP / filingsTimeline
IPO Opens
23 Sept 2025
IPO Closes
25 Sept 2025
Allotment
26 Sept 2025
Listing
30 Sept 2025
IPO Timeline & Listing Details
| Event | Date |
|---|---|
| IPO Open Date | 23 September 2025 |
| IPO Close Date | 25 September 2025 |
| Allotment Date | 26 September 2025 |
| Listing Date | 30 September 2025 |
Investment Categories
| Category | Lots | Amount |
|---|---|---|
Retail (Min) | 1 | ₹14,904 |
Retail (Max)Just less than ₹2,00,000 | 13 | ₹1,93,752 |
SHNI (Min)Just above ₹2,00,000 | 14 | ₹2,08,656 |
SHNI (Max)Below ₹10,00,000 | 67 | ₹9,98,568 |
BHNIAbove ₹10,00,000 | 68 | ₹10,13,472 |
IPO Objectives
- Funding long-term working capital requirements of the Company.
- General corporate purposes.
Strengths
- The company offers a wide product range and customized solutions for transformers, catering to a diverse range of customers and applications.
- It has a strong order book and a well-diversified customer base that includes big names like GETCO, Adani Green Energy, and TATA Power.
- The business is backed by experienced management, a skilled workforce, and advanced manufacturing facilities that focus on quality and compliance.
- The company has a consistent financial track record of profitability and is a key player in a high-entry-barrier industry.
- It has a broad market presence across 19 states and 3 union territories in India and a growing export footprint, with IPO proceeds planned to improve financial health and support growth.
Weaknesses
- The company has a high debt-to-equity ratio of 0.40, which indicates a significant reliance on borrowings and may impact its financial flexibility.
- It is vulnerable to the volatility of raw material prices, particularly for components like copper and steel, which can affect profitability.
- The business faces intense competition in the electrical equipment and transformer manufacturing sector from both domestic and international players.
- The company's P/E ratio is significantly different from what is provided in the peer table, which may be a point of confusion for investors.
- The IPO includes a significant Offer for Sale (OFS) component, meaning a large portion of the proceeds will not be directly invested in the company's growth.
Financial Performance
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets (₹ Cr.) | 3,365 | 2,585.1 | 1,628.78 |
| Revenue (₹ Cr.) | 847 | 683.26 | 468.7 |
| PAT (₹ Cr.) | 103.61 | 77.29 | 37.75 |
| Net Worth (₹ Cr.) | 503.76 | 392.66 | 265.23 |
Peer Comparison
| Company | P/B Ratio | P/E Ratio | RONW (%) | Net Worth (₹ Cr.) |
|---|---|---|---|---|
| Anand Rathi Share | 4.68 | 25.06 | 21.32% | 503.76 |
| Motilal Oswal Financial. | 5.12 | 20.39 | 22.58% | 11,131 |
| IIFL Capital Services | 3.55 | 12.63 | 28.41% | 2,510 |
Subscription Details
Daily Bids Status
| Category | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 0.01x | 0.02x | 46.25x |
| NII | 0.56x | 1.98x | 30.16x |
| S-HNI | 0.91x | 3.1x | 26.45x |
| B-HNI | 0.39x | 1.43x | 32.01x |
| RII | 0.61x | 1.51x | 5.11x |
| EMP | 1.51x | 1.93x | 2.7x |
| Total | 0.45x | 1.2x | 21.83x |
Overall Subscription Statistics
| Category | Shares Offered | Shares Bid | Bid Amount (₹ Cr) |
|---|---|---|---|
| QIB | 35,42,964 | 16,38,48,024 | 6,783.31 |
| NII | 26,60,715 | 8,02,39,356 | 3,321.91 |
| Small NII | 8,86,905 | 2,34,55,944 | 971.08 |
| Big NII | 17,73,810 | 5,67,83,412 | 2,350.83 |
| RII | 62,08,335 | 3,17,43,828 | 1,314.19 |
| EMP | 2,57,069 | 6,94,512 | 28.75 |
| Total | 1,26,69,083 | 27,65,25,720 | 11,448.16 |
Company Details
- Anand Rathi Share & Stock Brokers Ltd.
- Express Zone, A Wing, 10th Foor, Western Express Highway, Goregaon (E), Mumbai - Goregaon, Maharashtra-400063
- +91 22 - 6281 70
- secretarial@rathi.com
- https://www.anandrathi.com/
Registrar Details
- MUFG Intime India Pvt.Ltd.
- +91-22-4918 6270
- anandrathibrokers.ipo@in.mpms.mufg.com
- https://linkintime.co.in/Initial_Offer/public-issues.html
Frequently Asked Questions
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Sources
We match Anand Rathi Share IPO IPO numbers with official sources. For final dates and allotment results, double-check the registrar or exchange.
- SEBIRules for IPO allotment and disclosures in India
- NSEExchange notices, bidding data, and listing updates
- BSEExchange notices and IPO allotment check tools
- RHP / Offer DocumentCheck the company RHP on NSE/BSE or the IPO detail page
- MUFG Intime India Pvt.Ltd.Official site to check allotment status for this IPO
Also read our Editorial Policy, How GMP is calculated, How allotment chances work, and IPO fund allocation.
Reviewed by
Dinesh Agrawal · Lead IPO Analyst
15+ years in Indian markets and IPO research. He reviews IPO dates and key details before they go live.