Anand Rathi's ₹745cr IPO opens with 0.45x subscription
Anand Rathi's IPO kicked off with 0.45x overall subscription on the first day, led by retail investors who filled up 61% of their quota.
Non-institutional buyers subscribed at 56%, while big institutional buyers barely showed up yet.
The IPO is looking to raise ₹745 crore by offering shares in the ₹393-₹414 range.
Brokerage firm has been in business since 1994
Anand Rathi is a full-service brokerage firm that helps people invest, trade on margin, and access financial products.
As of March 2025, they're present in 290 cities via authorized agents, with 90 physical branches in 54 cities, and also offer digital services, serving clients from major metros to smaller towns.
GMP indicates a positive listing for the shares
Retail investors need at least ₹14,904 to apply (for a lot of 36 shares).
Share allotment will be announced on September 26, and listing is set for September 30 on NSE and BSE.
Early buzz in the gray market hints at a possible listing price about 7.5% above the top end—so there's some optimism around this debut.