Anand Rathi Advisors: IPO Track Record
12 of its 13 IPOs opened above the issue price, and only one closed below it on listing day. They opened a median 16.47 percentage points above same-year listings.
Listed IPOs
13
13 mainboard
Amount raised
INR 30,548.86 crore
2021 to 2026
Median gain at open
+23.62%
listing day, vs issue price
Median gain at close
+23.60%
listing day, vs issue price
Opened above issue price
92.31%
share of listings
Closed below issue price
7.69%
on listing day
Median subscription
66.58x
total, final day
Vs same-year IPOs
+16.47
percentage points; median gap at open
Best listing: Paras Defence (+168% at open, 1 October 2021). Weakest: Suraj Estate Developers (-5.56% at open, 26 December 2023).
An IPO with several lead managers counts towards each of them.
Year by Year
| Year | IPOs | Median gain at open | Median gain at close | Opened above issue | Median subscription |
|---|---|---|---|---|---|
| 2026 | 4 | +27.73% | +18.39% | 100% | 87.63x |
| 2025 | 3 | +12.50% | +7.62% | 100% | 43.19x |
| 2024 | 1 | +85.99% | +75.32% | 100% | 175.31x |
| 2023 | 2 | +15.92% | +11.11% | 50% | 48.15x |
| 2022 | 1 | +52.54% | +43.22% | 100% | 71.93x |
| 2021 | 2 | +88.55% | +93.75% | 100% | 157.02x |
All 13 IPOs Managed
| IPO | Listed | Segment | Issue price (INR) | Issue size (INR crore) | Subscription | Open (INR) | Close (INR) | Gain at open | Gain at close |
|---|---|---|---|---|---|---|---|---|---|
| HD Fire Protect | 21 October 2026 | Mainboard | 271 | 712.13 | 131.70x | 335 | 306.75 | +23.62% | +13.19% |
| National Stock Exchange | 24 September 2026 | Mainboard | 1,785 | 22,561.57 | 5.71x | 1,800 | 1,818 | +0.84% | +1.85% |
| SS Retail | 23 September 2026 | Mainboard | 424 | 500 | 108.69x | 624 | 748.80 | +47.17% | +76.60% |
| Lalithaa Jewellery Mart | 24 August 2026 | Mainboard | 201 | 1,700 | 66.58x | 265 | 248.44 | +31.84% | +23.60% |
| Excelsoft Technologies | 26 November 2025 | Mainboard | 120 | 500 | 43.19x | 135 | 125.97 | +12.50% | +4.97% |
| Anand Rathi Share and Stock Brokers | 30 September 2025 | Mainboard | 414 | 745 | 20.66x | 432 | 445.55 | +4.35% | +7.62% |
| Crizac | 9 July 2025 | Mainboard | 245 | 860 | 59.82x | 281.05 | 307.63 | +14.71% | +25.56% |
| Unimech Aerospace | 31 December 2024 | Mainboard | 785 | 500 | 175.31x | 1,460 | 1,376.25 | +85.99% | +75.32% |
| Azad Engineering | 28 December 2023 | Mainboard | 524 | 740 | 80.65x | 720 | 677.50 | +37.40% | +29.29% |
| Suraj Estate Developers | 26 December 2023 | Mainboard | 360 | 400 | 15.65x | 340 | 334.50 | -5.56% | -7.08% |
| Electronics Mart | 17 October 2022 | Mainboard | 59 | 500 | 71.93x | 90 | 84.50 | +52.54% | +43.22% |
| Anand Rathi Wealth | 14 December 2021 | Mainboard | 550 | 659.38 | 9.78x | 600 | 583.55 | +9.09% | +6.10% |
| Paras Defence | 1 October 2021 | Mainboard | 175 | 170.78 | 304.26x | 469 | 492.45 | +168% | +181.40% |