Anand Rathi IPO subscribed 9.78 times on final day of bidding; Check GMP, allotment & more
Anand Rathi Wealth which is mainly into wealth management opened its initial public offering (IPO) on December 2 and further concluded it on December 6.
The three-day initial public offering of Anand Rathi Wealth came to an end on Monday, December 6, the final day of bidding where it was subscribed 9.78 times and garnered bids for 8.29 crore equity shares against its IPO size of 84.75 lakh equity shares. Meanwhile, the initial public offer had a price range of Rs 530-550 per share where the category for non-institutional investors was subscribed by 25.42 times followed by Retail Individual Investors (RIIs) by 7.76 times and Qualified Institutional Buyers (QIBs) by 2.50 times on Monday.
The company has already raised Rs 194 crore from anchor investors ahead of the IPO and is now planning to raise about Rs 660 crores through its public issue.
Read on to know more about the Anand Rathi Wealth IPO.
Anand Rathi IPO GMP (Grey Market Price)
The initial share sale concluded on Monday and the shares of Anand Rathi Wealth are currently commanding at a premium of Rs 55 in the grey market, while the equity shares of the company are expected to be listed on the Bombay Stock Exchange and the National Stock Exchange on December 14.
Anand Rathi IPO share allotment
With the expected finalization of share allotment of Anand Rathi Wealth IPO this Thursday, December 9, the credit of shares are expected to be done to the Demat account of the bidders on December 13, 2021. Furthermore, the bidders can check the allotment application on the official website of the registrar for this IPO, Link Intime India Private Limited or the official website of BSE.
Image: Shutterstock
Published By : Nikita Bishay
Published On: 7 December 2021 at 09:39 IST