Anand Rathi has set the price range for the IPO at Rs 530- Rs 550 per equity share
Leading non-bank asset solutions firm Anand Rathi Wealth will open its initial public offering (IPO) tomorrow, December 2 – will close on Monday, December 6, 2021 The company has set the price range for the IPO at Rs 530 – Rs 550 per share with a par value of Rs 5 per share. Anand Rathi Wealth is the wealth management arm of Anand Rathi Financial Services.
At the upper end of the price range, the company aims to raise Rs 660 crore through this offer. The IPO includes an offer to sell up to 1,2,000,000 shares of equity at par value of Rs 5 each by Anand Rathi Financial Services Limited, Anand Rathi, Pradeep Gupta, Amit Rathi, Priti Gupta, Supriya Rathi, Rawal Family Trust through Rakesh Rawal, Jugal Mantri and Feroze Azeez, according to a recent company statement.
The goal of the offering is to achieve the benefits of listing shares on a stock exchange. The offer includes pre-booking of 2,500,000 equity shares for the company’s employees, who will receive the shares at a discount of Rs 25 off the final issue price.
The minimum lot size is 27 equity shares and multiples of 27 equity shares thereafter. Retail individual investors can invest a minimum of Rs 14,850 for one lot and a maximum of Rs 1,93,050 for 13 lots.
Anand Rathi Wealth has been ranked among the top three non-bank mutual fund distributors in the country. The company offers a diversified product portfolio of enrichment solutions, financial product distribution and technology solutions to its clients.
