The initial public offering (IPO) of Anand Rathi Share & Stock Brokers received a muted response on its first day of bidding, September 23, with investors placing bids for 57.24 lakh shares against the total offer of 1.27 crore shares, resulting in an overall subscription of 0.45 times by the end of Day 1, according to exchange data.

The retail investors’ portion was subscribed 0.61 times, while the non-institutional investors’ segment saw a subscription of 0.56 times. The QIB (Qualified Institutional Buyers) portion was minimally subscribed at just 0.01 times.

Anand Rathi aims to raise ₹745 crore through the IPO, which is entirely a fresh issue of 1.80 crore shares. The price band for the ₹393 and ₹414 per share.”>issue is set between ₹393 and ₹414 per share.

Anand Rathi IPO lot size is fixed at 36 shares, requiring a minimum investment of ₹14,904 for retail investors. The allotment for the Anand Rathi IPO is expected to be finalized on Friday, September 26, 2025, and the shares are scheduled to list on both the NSE and BSE, with a tentative listing date of Tuesday, September 30.

Nuvama Wealth Management Ltd. is the book-running lead manager, and MUFG Intime India Pvt. Ltd. is the registrar of the issue.

Anand Rathi IPO GMP

According to market sources, the grey market premium (GMP) for the Anand Rathi IPO stands at ₹31 per share. This suggests that the Anand Rathi IPO shares are estimated to list 7.48% higher than the issue upper-band IPO price of ₹414 apiece.

The grey market premium represents the expected difference between an IPO’s issue price and its anticipated listing price in the unofficial market. However, it’s important to remember that GMP is a preliminary indicator and should not be the sole factor in making investment decisions.

About the company

Anand Rathi Share and Stock Brokers, valued at ₹2,600 crore, operates as a full-service brokerage firm that offers broking services, margin trading, and the distribution of financial products under the Anand Rathi brand.

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.

The company’s financial performance in the past few years has been solid, with profits in FY25 increasing by 34 percent to ₹103.6 crore compared to ₹77.3 crore in the prior year. During the same fiscal period, revenue grew by 24 percent, reaching ₹845.7 crore, up from ₹681.8 crore.

Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.