Groww, the recent debut on Dalal Street, has been making headlines with its massive rally that nearly doubled investors’ money within five days of listing, emerging as the most valuable listed brokerage stock. The sharp surge also pushed the company’s market capitalisation past ₹1 lakh crore in a very short span.
Even though Groww shares later retreated from highs as traders booked profits, they continue to hold on to strong gains.
This sharp listing performance has also drawn attention to another newly-listed brokerage stock — Anand Rathi Share and Stock Brokers — which has delivered impressive returns since its debut.
The shares entered the secondary market on September 30, listing at ₹432, about 4.3% higher than the issue price of ₹414. While the stock opened with only modest gains, it quickly gathered momentum in the following sessions.
This rally, which remains ongoing, has now pushed the stock to ₹746, marking a strong 79% rise above its IPO price.
The ₹745-crore Anand Rathi Share and Stock Brokers IPO opened between September 23 and 25, and was a fresh issue of 1.80 crore shares, with a price band set at ₹393– ₹414 per share. The issue received bids for 27.65 crore shares against an offer of 1.26 crore shares, resulting in a subscription of nearly 22 times.
The rally in capital market stocks indicates that the Street remains optimistic about the continued rise in retail investors’ participation in the Indian stock market. While experts also remain bullish on the expanding investor base, they are concerned about valuations amid rising competition.
Anand Rathi Share and Stock Brokers Q2 performance
For the September quarter (Q2FY26), the company reported a healthy performance with revenue from operations rising 13% QoQ to ₹227.20 crore, driven by a 30% increase in MTF interest income and a 50% surge in distribution income.
EBITDA grew 24% QoQ to ₹92.65 crore, while PAT rose 22% to ₹27.90 crore, reflecting a 12% PAT margin. The brokerage segment continued to expand, with total active clients reaching 149,849 during the quarter.
About Anand Rathi Share and Stock Brokers
Anand Rathi Share and Stock Brokers 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 September 30, 2025, the company offers broking services through 92 branches, 1,250 authorised agents across 51 cities, and online platforms, serving clients in Tier 1, Tier 2, and Tier 3 cities.
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.
