Anand Rathi Wealth Ipo has subscribed 60% so far on Day 1

Anand Rathi Wealth’s initial public offering (IPO) has been 60% subscribed so far on Thursday, the first day of the bidding process. The IPO of Mumbai-based financial services firm Anand Rathi Wealth is entirely an offer to sell (OFS) of 1.2 crore of shares. Through this offer, Anand Rathi Wealth aims to increase Rs 660 crore.

At 11:51 a.m. Anand Rathi Wealth IPO received offers for 51 lakh shares for 84.8 lakh shares offered, representing a subscription of 60%. The portion reserved for non-institutional investors was subscribed at 36% and that for individual investors at 0.6%.

Of the total number of shares offered, 50% are reserved for qualified buyer investors (QIB), 15% for non-institutional investors and 35% for retail investors. Nearly 2.5 lakh of shares are reserved for employees, who will benefit from a discount of Rs 25.

Anand Rathi Wealth shares are available at auction in a price range of Rs 530-550 in multiples of 27 as part of the IPO, which will close for subscription on Monday December 6th. The subscription window for Anand Rathi The IPO will close on Monday, December 6.

Anand Rathi Wealth’s shares are expected to be listed on the BSE and NSE stock exchanges on December 14

Anand Rathi Wealth, part of the Anand Rathi financial services group, raised Rs 194 crore from 12 key investors ahead of the IPO.

Anand Rathi Wealth aims to reap the benefits of listing stocks on the stock exchange.

Anand Rathi Wealth is the wealth management arm of Anand Rathi Financial Services. It is registered with the Association of Mutual Funds in India (AMFI) and focuses on the sale of financial products and the distribution of mutual funds.

(Edited by : Sandeep singh)

First publication: STI


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