Anand Rathi has set the price range for the IPO at Rs 530 – Rs 550 per equity share
Anand Rathi Wealth’s leading non-bank asset solutions company initial public offering (IPO) was registered 3.02 times on its second day of issuance, according to exchange registration data stock trading. Anand Rathi IPO opened on December 2nd and will close on Monday,December 6th, 2021. The company has established a price range for the IPO of ₹530 – 550 per share with par value of 5 Rs/share.
On Friday, the section dedicated to retail individual investors was registered 4.77 times – the highest of the three investor groups. The section for qualified institutional buyers or QIBs was registered 0.17 times, while the section for non-institutional investors was registered 3.06 times.
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 company statement.
The goal of the offering is to achieve the benefits of listing shares on a stock exchange. 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.
Equirus Capital Private, BNP Paribas, IIFL Securities, and Anand Rathi Advisors are the book’s key managers on the issue while Link Intime is the registrar for the issue.
