Anand Rathi Wealth, the wealth administration arm of Anand Rathi Monetary Companies, will launch its preliminary public providing (IPO) this week that can open for subscription on Thursday, December 2 and the three-day preliminary share sale will conclude on December 6, 2021. The worth band of the problem has been introduced which has been fastened at ₹530-550 per share.
The preliminary share sale is fully a suggestion on the market (OFS) of 1.2 crore fairness shares by promoters and current shareholders. On the higher finish of the worth band, the preliminary share sale is anticipated to fetch ₹660 crore.
As per market observers, Anand Rathi Wealth shares can be found at a premium (GMP) of ₹87 within the gray market right this moment. The fairness shares of the corporate are anticipated to listed on BSE and NSE on December 14.
The OFS consists of the sale of 92.85 lakh fairness shares by Anand Rathi Monetary Companies, and three.75 lakh fairness shares every by Anand Rathi, Pradeep Gupta, Amit Rathi, Priti Gupta, Supriya Rathi, Rawal Household Belief, and Feroze Azeez, and 90,000 fairness shares by Jugal Mantri. The problem features a reservation of two.5 lakh fairness shares for workers.
Equirus Capital Pvt Ltd, BNP Paribas, IIFL Securities and Anand Rathi are the e book operating lead managers to the problem.
Anand Rathi Wealth operates within the monetary companies trade with a give attention to mutual fund distribution and the sale of economic merchandise. The corporate commenced actions in fiscal 2002 and is AMFI registered mutual fund distributor.
From March 31, 2019, until August 31, 2021, the corporate’s Asset Below Administration (AUM) has grown at a CAGR (Compound annual development price) of twenty-two.74% to ₹302 billion. As of August 2021, the corporate’s flagship Personal Wealth vertical catered to six,564 lively consumer households throughout the nation.
Earlier in September 2018, the corporate had filed draft papers with market regulator SEBI to boost ₹425 crore by way of an IPO. Nevertheless, the agency later withdrew its proposed public problem, as reported by PTI.
Supply: Live Mint