Jodhpur stationery shop owner’s son launches ₹745-crore IPO:47-year-old Anand Rathi’s journey from a gold medalist in CA to business tycoon

Jodhpur resident Anand Rathi’s company has brought an IPO. The plan is to raise about ₹745 cr from this. Anand Rathi’s journey to reach this milestone had begun from his childhood itself. He first helped at his father’s stationery shop. Learned the intricacies of business. Then worked at a senior position in Aditya Birla Group. After quitting his job in 1990, he started the brokerage business. Very few people know that Anand Rathi is a gold medalist Chartered Accountant. He completed his CA in 1966. First know why Anand Rathi’s company is in discussion?
Anand Rathi Share and Stock Brokers Limited (ARSSBL) issue opened on September 23, 2025. It will close on September 25, 2025. The company is coming with a price band of Rs 393-414 per share. The entire issue will be fresh equity, meaning promoters are not taking money out through share sale (OFS). Out of the funds raised from this IPO, Rs 550 crore will be used for the company’s long-term working capital needs. The remaining amount will be spent on general corporate purposes. Father ran a stationery shop
Anand Rathi studied at Mahesh School located at Siwanchi Gate in Jodhpur. After returning from school, he and his younger brother Suresh Rathi would go to their father Nandkishore Rathi’s stationery shop in the inner city. Here he received business training from childhood. This included learning how to meet customers, create bills, and maintain accounts.
During the Holi season, they would handle everything from colors and gulal to Diwali firecrackers and decorative items. This was not just shopkeeping, but early training for a future entrepreneur. Mother Godavari Devi became the first business guru
Mother Godavari Devi herself taught both brothers the intricacies of accounting and business at home. She taught both sons to keep track of every penny. After graduating from Jodhpur University (now JNVU), Anand Rathi prepared for the CA exam through self-study. During that time, coaching was not available in Jodhpur. Nor was there any other help. Becoming a CA without this was extremely challenging. Anand Rathi not only passed this exam but also won a gold medal in 1966. Like him, younger brother Suresh Rathi also became a CA. Anand Rathi has two daughters (elder Preeti Gupta and younger Pooja Maru) and one son (Amit Rathi). In today’s context, Preeti Gupta is a board member in Anand Rathi Group and also runs her own company Ishq Films. Connection with Jodhpur remains
Today when Anand Rathi’s business has spread across the country and abroad, the connection with Jodhpur still remains. Nearly 600 employees work in the large office located in Cyber Park. This shows that they have not forgotten their roots. Read ahead about the company’s journey from establishment to IPO
Anand Rathi Share and Stock Brokers Limited was founded on November 22, 1991 as Navratan Capital and Securities Private Limited. Anand Rathi started this after leaving his job as a Senior President at the age of around 47 years. In the early days, the company focused on investment services and brokerage. The company’s first office opened in Mumbai and started establishing its identity within a few years. In 1995, the company established a research desk to guide customers for investments. Gradually, Anand Rathi’s team started providing services in commodity and currency markets in addition to equity trading. In 2007, it became a public limited company and in 2008 its name was changed to Anand Rathi Share and Stock Brokers Limited. The company’s registered office is in Mumbai (Goregaon-E). Played important role in modernizing BSE trading
Anand Rathi served as the chairman of Bombay Stock Exchange (BSE) from 1999 to 2001. During his tenure, he played a crucial role in modernizing BSE’s trading. Under his leadership, BSE’s online trading system BOLT (BSE On-Line Trading) expanded and electronic trading in India’s stock market was promoted. He also made significant contributions in establishing the Trade Guarantee Fund in the exchange and forming India’s first central depository (CDSL). In a way, Anand Rathi represents that generation who moved India’s capital market from traditional style towards new technology and global standards. Business and expansion
Initially focused only on equity broking, this group is now a full-service brokerage house. It provides services like wealth management, NBFC, investment banking, insurance broking, corporate finance advisory, brokerage and distribution. The group has established its presence not only across India but also in international locations like Dubai. Achievements and awards
The company is known for its research and advisory services. It has received awards like ‘Best Equity Advisor’ multiple times. It was also given the Finovity Award for digital innovation. It has consistently received the Great Place to Work certificate. Increased income and profit According to RHP, Anand Rathi Share and Stock Brokers has consistently performed well over the past few years. This clearly shows that both the company’s revenue and profit are growing rapidly. IPO structure
The company’s IPO has been brought through the book building process. In simple terms, this means that investors are being asked to bid and the final price of the share will be determined based on that. The largest portion of the money raised through IPO (approximately 550 crores) will be used by the company for its working capital, meaning day-to-day and business needs. The remaining amount will be used for other corporate requirements.
The group is also active in Corporate Social Responsibility (CSR) activities. Recently, it was honored with the Global CSR Leadership Award for its contribution to community development.