Anand Rathi IPO day 2: GMP, date, price, review, subscription status, other details. Apply or not?

Anand Rathi IPO day 2: The initial public offering (IPO) of Anand Rathi Share & Stock Brokers Limited hit the Indian primary market on 23 September 2025, and the Anand Rathi IPO will remain open until 25 September 2025. This means the Anand Rathi IPO date is Tuesday to Thursday. The company has fixed the Anand Rathi IPO price band at ₹393 to ₹414 per equity share. The Anand Rathi IPO is proposed for listing on the BSE and the NSE. The mainboard issue aims to raise ₹745 crore by issuing fresh company shares.

Meanwhile, Anand Rathi's IPO created a buzz in the grey market much before the opening of its subscription. According to stock market observers, shares of the company are available at a premium of ₹24 in the grey market today. This means Anand Rathi IPO GMP today is ₹45, which signals an 11% listing gain for potential investors.

Anand Rathi IPO subscription status

By 5 PM on day 2 of bidding, the public issue had been booked 1.11 times, the retail portion had been subscribed 1.37 times, whereas its NII segment had been filled 1.88 times. The QIB portion of the book build issue had been subscribed to 0.02 times.

Anand Rathi IPO details

1] Anand Rathi IPO GMP today: Market observers say the company's shares are available at a premium of ₹45 in the grey market today.

2] Anand Rathi IPO price: The company's declared price band for this public issue is ₹393 to ₹414 per equity share.

3] Anand Rathi IPO date: The book build issue opens today and will remain open until 25 September 2025.

4] Anand Rathi IPO size: The mainboard issue aims to raise ₹745 crore from its initial offer, through the issuance of fresh shares.

5] Anand Rathi IPO lot size: A bidder can apply in lots, and one lot of the mainboard IPO comprises 36 company shares.

6] Anand Rathi IPO allotment date: Share allocation can be expected on 26 September 2025.

7] Anand Rathi IPO registrar: MUFG Intime India Private Limited has been appointed the official registrar of the book build issue.

8] Anand Rathi IPO listing date: The public issue is proposed for listing on the BSE and the NSE. Share listing can be expected on 25 September 2025.

9] Anand Rathi IPO lead managers: Nuvama Wealth Management, DAM Capital Advisors, and Anand Rathi Advisors have been appointed lead managers of the public issue.

Anand Rathi IPO: Apply or not?

10] Anand Rathi IPO review: Assigning a 'subscribe' tag to Anand Rathi IPO, Anshul Jain, Head of Research at Lakshmishree, said, "We believe the Anand Rathi Share and Stock Brokers Ltd. IPO offers investors a strong opportunity to participate in a well-established and diversified player within India’s high-growth financial services sector. The company is well-positioned for sustainable growth with a pan-India presence, robust client base, and rising retail participation in equities. Revenue stood at ₹845.70 Cr and PAT at ₹103.61 Cr in FY25, reflecting consistent performance. Valuations at ~18–20x P/E are reasonable versus peers. Given that the entire issue is fresh and proceeds will support growth, we recommend investors SUBSCRIBE for medium to long-term wealth creation."

Marwadi Shares and Finance has also assigned a 'buy' tag to Anand Rathi IPO, saying, "Considering the FY 25 EPS of ₹16.52 on a post issue basis, the company is set to list at a P/E of approximately ~25x with a market cap of ₹2,596 Cr, whereas its peers namely Motilal Oswal Financial Services Ltd, IIFL Capital Services Limited, Geojit Financial Services Ltd and Angel One Ltd are trading at P/E of approximately ~20x, ~13x, ~14x and ~21x respectively. We assign a ‘Subscribe’ rating to this IPO as they are an established brand with more than a 3-decade legacy and a Pan-India presence. Also, it is available at a reasonable valuation considering the company's growth potential."

Adroit Financial Services and SBI Capital Securities have also assigned the Anand Rathi IPO a 'subscribe' tag.

Disclaimer: 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.