Price band of Rs 393 – Rs 414 per Equity Share bearing face value of Rs 5 each (“Equity Shares”)
Bid/Issue Opening Date – Tuesday, September 23, 2025 and Bid/Issue Closing Date – Thursday, September 25, 2025.
Minimum Bid Lot is 36 Equity Shares and in multiples of 36 Equity Shares thereafter
RISKS TO INVESTORS
Mumbai, September 18, 2025: Anand Rathi Share and Stock Broker (“Company”) has fixed the price band of ₹ 393/- to ₹414/- per Equity Share of face value ₹ 5/- each for its Initial Public Offer of Equity Shares (“IPO” or “Issue”).
The IPO will open on Tuesday, September 23, 2025, for subscription and close on Thursday, September 25, 2025.
Investors can bid for a minimum of 36 Equity Shares and in multiples of 36 Equity Shares thereafter.
Equity shares outstanding as on date 44,714,558Equity Shares of Rs 5 each
The IPO is a fresh issue aggregating up to Rs 7,450.00 million.
The proceeds from the fresh issue to the extent of Rs 5,500.00 million will be utilised for funding the working capital requirements of the Company.
The Company is an established full-service brokerage house in India with over 30 years of experience. The Company provides broking services, margin trading facility and distribution of financial products under the brand ‘Anand Rathi’ to a diverse set of clients across retail, high net worth individuals, ultra-high net worth individuals and institutions. Its investment offerings span across a wide array of asset classes like equity, derivatives, commodities, and currency markets.
While the Company’s client base is spread across various age demographics, 1,86,859 of its active clients, representing 84.36% of its active clients were above 30 years of age as on March 31, 2025. The Company’s three decades of track record, comprehensive product offerings, and focus on serving this key demographic, positions it for continued growth.
The Company is a part of the Anand Rathi group, which carries out a diverse range of financial services business through its group companies. As of March 31, 2025, the Company offers its broking and other financial services through its network of 90 branches spread across 54 cities in India, network of 1,125 authorized persons (agents appointed by the Company after approval from the relevant stock exchange) spread across 290 cities in India, and online and digital platforms.
The Company’s multi-channel presence through its pan India branches and network of authorised persons and its online and digital platforms enables it to service its clients across tier-1, tier-2, tier-3 and other cities.
The Company’s revenue from operations increased to ₹ 8,456.98 million in Fiscal 2025 from ₹ 4,678.26 million in Fiscal 2023 with a CAGR of 34.45%, and it’s profit after tax increased from ₹ 377.45 million in Fiscal 2023 to ₹ 1,036.06 million in Fiscal 2025 at a CAGR of 65.68%.
Nuvama Wealth Management Limited, DAM Capital Advisors Limited and Anand Rathi Advisors Limited are the Book-Running Lead Managers; and MUFG Intime India Private Limited (Formerly Link intime India Private Limited) is the Registrar to the Issue.
* *In compliance with the proviso to Regulation 21A(1) of the Securities and Exchange Board of India (Merchant Bankers) Regulations, 1992, as amended, read with proviso to Regulation
23(3) of the SEBI ICDR Regulations, Anand Rathi Advisors Limited will be involved only in marketing of the Issue.
The Issue is being made through the book-building process, wherein not more than 50% of the Net Issue shall be available for allocation to qualified institutional buyers, and not less than 15% and 35% of the Net Issue shall be available for allocation to Non-Institutional Bidders and Retail Individual Bidders, respectively. The Issue also includes an Employee Reservation Portion for Eligible Employees aggregating up to ₹ 100.00 million.
DISCLAIMERS: Anand Rathi Share and Stock Brokers Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its Equity Shares and has filed a red herring prospectus dated September 17, 2025 (RHP) with the Registrar of Companies, Maharashtra at Mumbai. The RHP is made available on the website of the SEBI at www.sebi.gov.in as well as on the website of the BRLMs i.e., Nuvama Wealth Management Limited at www.nuvama.com, DAM Capital Advisors Limited at www.damcapital.in and Anand Rathi Advisors Limited at www.anandrathiib.com, the website of the NSE at www.nseindia.com and the website of the BSE at www.bseindia.com and the website of the Company at www.anandrathi.com. Any potential investor should note that investment in equity shares involves a high degree of risk and for details relating to such risks, please see the section “Risk Factors” beginning on page 35 of the RHP. Potential investors should not rely on the DRHP for making any investment decision but should only rely on the information included in the RHP.
This announcement does not constitute an offer of the Equity Shares for sale in any jurisdiction, including the United States, and the Equity Shares may not be offered or sold in the United States absent registration under the US Securities Act of 1933 or an exemption from registration. Any public offering of the Equity Shares to be made in the United States will be made by means of a prospectus that may be obtained from the Company and that will contain detailed information about the Company and management, as well as financial statements. However, the Equity Shares are not being offered or sold in the United States.
DISCLAIMER CLAUSE OF SEBI: SEBI only gives its observations on the Issue documents and this does not constitute approval of either the Issue or the specified securities stated in the Issue Document. The investors are advised to refer to page 404 of the RHP for the full text of the disclaimer clause of SEBI.
DISCLAIMER CLAUSE OF BSE: It is to be distinctly understood that the permission given by BSE Limited should not in any way be deemed or construed that the RHP has been cleared or approved by BSE Limited nor does it certify the correctness or completeness of any of the contents of the RHP. The investors are advised to refer to the page 406 of the RHP for the full text of the disclaimer clause of BSE.
DISCLAIMER CLAUSE OF NSE (The Designated Stock Exchange): It is to be distinctly understood that the permission given by NSE should not in any way be deemed or construed that the Issue Document has been cleared or approved by NSE nor does it certify the correctness or completeness of any of the contents of the Issue Document. The investors are advised to refer to page 406 of the RHP for the full text of the disclaimer clause of NSE.
All capitalised terms used but not defined in this document bear the meaning ascribed to such terms in the RH
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