Anand Rathi IPO Last day for Subscription
Anand Rathi Wealth Company
Anand Rathi Wealth is a Mutual Fund Distributor company established in 2002. The company deals with high and ultra-high net individuals.
According to the BSE data, the IPO of Anand Rathi wealth has subscribed 3.38 times on 4th December, the retail category with 5.20 times, Non-Institutional Investors bid 3.79 times. On the last day of the IPO, the Grey Market Premium value of the share is Rs 55. It has raised ₹194 crores from investors ahead of IPO.
The overall assets of
the company are around ₹26,058 crores as of March 31, 2021. The equity shares
of the company are expected to be listed on BSE and NSE on 10th December.
It has launched its
Initial Public Offerings on December 2nd, 2021.
Initial Public
Offerings closes on December 6th, 2021.
Allotment Finalization
will be on December 9th, 2021.
Refund and unblocking
of IPO amount will be on December 10th, 2021.
Allotment of shares will be on December 13th, 2021.
The issue amount is ₹659 crores, the post-issue market capital is ₹2,289 crores. The total share on offer is 120 crore shares. The Price Band has been fixed at ₹530 to ₹550 and the face value of ₹5 per share.
The company clients belong to the HNI segment who are less price-sensitive and appreciate the quality and personalized service. It focuses on value-added services like estate planning services and safety net services. The company has been ranked as one of the largest non-banking mutual fund distributors by the commission in 2019, 2020, 2021.
The Post pandemic and Omicron new variant will affect the business. The increasing competition in the wealth management industry includes risk in the business.
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