AnandRathi

What AnandRathi does

Anand Rathi Share and Stock Brokers Ltd. (NSE: ARSSBL) is a publicly listed Indian diversified financial services group founded in 1991, headquartered in Mumbai, with operating presence across India and dedicated NRI and IFSC (GIFT City) channels. The group operates through six wholly-owned subsidiaries covering wealth management (Anand Rathi Wealth), investment banking and research (Anand Rathi Advisors), insurance broking, NBFC lending (Anand Rathi Global Finance), international ventures (Anand Rathi International Ventures IFSC), and digital wealth (AR Digital Wealth).

The core product is a multi-platform digital brokerage ecosystem comprising TradeMobi (mobile app), TradeXpress (web), AR Invest (mutual funds), and Algozy (algorithmic trading), spanning equity, derivatives, mutual funds (5,000+ schemes), IPOs, PMS, AIF, MTF, commodity, currency, fixed income, and insurance. The technology stack integrates SEBI-registered research, TradingView-powered charting, and WhatsApp-delivered research content, with a parallel assisted channel of 2,500+ Authorised Persons and referral partners.

Revenue is generated through transaction-based brokerage, margin trading interest income (MTF book of Rs 1,331.8 crore in Q1 FY27, +55% YoY), mutual fund and IPO distribution fees, NBFC interest income, PMS/AIF management fees, and insurance commissions. The customer base exceeds 6 lakh registered clients across Retail, HNWI, Institutional, and NRI segments. Q1 FY27 consolidated revenue reached Rs 246.10 crore (+22.37% YoY) with non-brokering revenue growing 43.20% YoY and AUM at Rs 9,479.1 crore (+26% YoY), indicating successful diversification beyond pure trading volumes.

Name

AnandRathi

Legal name

Anand Rathi Share and Stock Brokers Ltd.

Website

https://anandrathi.com

Company type

Public

Founded year

1991

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

AnandRathi (NSE: ARSSBL) is a Mumbai-based, publicly listed Indian financial services group offering equity broking, derivatives, mutual funds, IPOs, PMS, MTF, insurance, and NBFC services across digital platforms and a 2,500+ Authorised Person network to retail, HNWI, NRI, and institutional clients.

Ownership category

akta.pro rank

Product category

Stock Brokerage & Wealth Management

NAICS

Investment Banking and Securities Intermediation (52315), Portfolio Management and Investment Advice (523940)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Security Brokers, Dealers & Flotation Companies (6211), Investment Advice (6282)

akta.pro primary industry

Full-Service Retail Brokerage & Wealth Platforms (FSAAAAAA)

akta.pro secondary industries

Fixed Income Brokerage (Bonds) (FSAEACAJ), Private Banking Advisory & Discretionary Portfolio Management (FSABADAD)

Keywords

• Equity broking
• Wealth management
• Investment banking
• Stock brokerage
• Portfolio management services

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Brokerage & Trading Revenue: Commissions and brokerage fees from equity, derivatives (F&O), commodity, and currency trading executed on Indian exchanges (BSE, NSE, MSEI, MCX, NCDEX) through its retail and institutional client base. Revenue is transaction-based, earned per trade executed.
2. Margin Trading Facility (MTF): Interest income from providing leveraged funding to clients against securities collateral. MTF book expanded 55% YoY to Rs 1,331.8 crore in Q1 FY27. A key non-brokering revenue driver growing at over 43% YoY.
3. Mutual Fund Distribution & Advisory: Revenue from distributing 5,000+ mutual fund schemes across equity, debt, hybrid, and other asset classes. Also includes portfolio management services (PMS) and investment basket products.
4. IPO & New Issues Distribution: Fees and commissions from IPO distribution, including acting as book-running lead manager for equity offerings such as the Indo-MIM IPO and TMC Transformers IPO.
5. Net Interest Income: Interest income generated from client funds and margin funding operations. Core income rose 47% YoY in Q1 FY27.
6. Fixed Income & Bonds Distribution: Distribution of fixed income products including bonds and fixed deposits, NCDs (Non-Convertible Debentures) as seen in their own Rs 500 crore NCD raising programme.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels7 records

Core offering

Anand Rathi Share and Stock Brokers Ltd. is an Indian financial services firm offering equity and derivatives broking, mutual fund distribution (5,000+ schemes), IPO distribution and book-running, Portfolio Management Services (PMS), Alternative Investment Funds (AIF), Margin Trading Facility (MTF), Investment Baskets, fixed income, commodity trading, insurance broking, and NRI investing. These services are delivered through proprietary platforms (TradeMobi, TradeXpress, AR Invest, Algozy, AR MF), a 2,500+ Authorised Person partner network, and SEBI-registered operations across BSE, NSE, MSEI, MCX and NCDEX.

Product overview

AnandRathi operates as a comprehensive financial services and stock brokerage platform offering a unified platform-plus-modules architecture. The core offerings include equity trading via TradeMobi (mobile app), TradeXpress (web platform), and AR Invest, complemented by derivatives, mutual funds (5000+ schemes), IPO investments, portfolio management services (PMS), alternative investment funds (AIF), margin trading facility (MTF), investment baskets, fixed income, commodity trading, insurance, and NRI investing services. Algozy provides algorithmic trading capabilities. The platform integrates research-backed insights, advanced trading tools, and multiple investment product categories into a single ecosystem.

Differentiator

Problem solved

Functional benefit

Brands

• TradeMobi: Mobile equity trading application
• AR Invest
• TradeXpress
• Algozy
• AR MF
• Finshala
• AR Finshala

Products and services

• TradeMobi Mobile equity trading application providing real-time market data, advanced charting, expert-backed research and an easy-to-use interface for retail and active investors on Android and iOS.
• TradeXpress
• AR Invest
• Algozy
• Mutual Funds Platform
• IPO Platform
• Portfolio Management Services (PMS)
• Alternative Investment Fund (AIF)
• Margin Trading Facility (MTF)
• Investment Baskets
• Equity Broking
• Derivatives Trading
• Fixed Income (Bonds & FDs)
• Commodity Trading
• Insurance Distribution
• NRI Investing

Quantifiable outcome

• Revenue growth of 22.37% YoY to Rs 246.10 crore in Q1 FY27
• +4 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature4 records

Partnerships

Two partnerships are on record, tiered minor.

• eMudhra LimitedminorGTM or Marketing Partner · 21 September 2026eMudhra Limited, a digital signature and cybersecurity solutions provider, participated in Anand Rathi's G-200 Summit investor conference scheduled for September 21, 2026 in Mumbai. The event serves as a platform for listed companies to engage with institutional investors, with eMudhra using the opportunity to enhance visibility and provide updates on its strategic direction.
• Anand Rathi Advisors (Book Running Lead Manager)minorChannel Partner/ Reseller/ DistributorAnand Rathi Advisors and Intensive Fiscal Services served as Book Running Lead Managers (BRLMs) for TMC Transformers' Rs 550 crore IPO. This represents Anand Rathi's investment banking arm supporting IPO execution for mid-market companies.

Scale indicators9 records

Recent moves11 records

Expansion highlights6 records

Direct peers

• Motilal Oswal Financial Services: Indian listed full-service brokerage and wealth manager with equity broking, PMS, investment banking and institutional research. Closely comparable to AnandRathi in business mix, listed status, and Tier 1-3 distribution strategy.
• IIFL Securities: Indian listed brokerage offering equity/derivative trading, mutual fund distribution, IPO and wealth services via digital and partner channels. Directly comparable to AnandRathi's integrated retail broking + wealth platform.
• Sharekhan: Indian retail brokerage owned by BNP Paribas offering equity, derivatives, mutual funds and IPO services via digital platforms and a large franchisee/partner network. Comparable hybrid digital-plus-partner model to AnandRathi.
• Geojit Financial Services: Indian listed retail brokerage and wealth manager with multi-asset offerings across equities, mutual funds and PMS, particularly strong in South/West India. Comparable full-service retail brokerage profile to AnandRathi.

Broad incumbents

• ICICI Securities: Large Indian listed brokerage and investment bank (part of ICICI Group) with broad retail and institutional offerings across broking, wealth and IB. Comparable product breadth but with materially larger scale and parent-bank distribution.
• HDFC Securities: Subsidiary of HDFC Bank offering retail broking, mutual funds, IPO and research. Comparable in product scope to AnandRathi but benefits from HDFC Bank's captive customer base and balance sheet.
• Kotak Securities: Kotak Mahindra group brokerage offering equity, derivatives, mutual funds and IPOs via digital platforms. Comparable multi-asset brokerage, supported by deep parent-bank customer relationships.
• Axis Securities: Axis Bank's brokerage arm offering retail trading, mutual funds, IPO and research with strong cross-sell from the parent. Comparable in retail brokerage profile but with captive bank-led distribution.

Emerging players

• Zerodha: India's largest discount broker with a digital-only, low-commission model built around Kite and Coin. Competes directly with AnandRathi's self-serve platforms on pricing, while AnandRathi differentiates via AP network and full-service offering.
• Groww: Leading Indian discount broker and mutual fund platform with strong retail onboarding. Represents the digital-first competitive pressure on AnandRathi's retail brokerage economics, especially among younger investors.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@AnandRathiOfficial
• Xx.com/rathi_online
• Facebookfacebook.com/anandrathigrp
• LinkedInlinkedin.com/company/anand-rathi-share-and-stock-brokers-ltd

Compliance10 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about AnandRathi