Anand Rathi Wealth IPO Opening Date: Check GMP Signals Today, Price Band, Financials

The Anand Rathi Initial Public Offering (IPO) will begin accepting subscriptions on Thursday, December 2, 2021, and will stay up for bidding until Saturday, December 4, 2021. The offer's price band has been set at Rs 530-550 per equity share, with the offer closing on Monday, December 6. India's largest non-banking wealth solutions company wants to raise 660 crore through a public offering, with a price band of 530 to 550 per equity share. Anand Rathi Wealth shares are currently available in the grey market at a premium of 125 as per multiple reports.

In 2021, this will be the 56th initial public offering. According to the company's statement, Anand Rathi Financial Services, Anand Rathi, Pradeep Gupta, Amit Rathi, Priti Gupta, Supriya Rathi, Rawal Family Trust acting through Rakesh Rawal, Jugal Mantri, and Feroze Azeez are selling 1.2 crore equity shares in the IPO. The offer includes a 2.5 lakh equity share reservation for the company's employees, who will get these shares at a discount of Rs 25 off the final issue price.

Anand Rathi Wealth IPO Opening Date

At the higher price band, the public offering will net the corporation Rs 660 crore. Qualified institutional buyers will receive half of the offer, non-institutional investors would receive 15%, and regular investors will receive the remaining 35%. With a presence in 11 cities throughout India and a representative office in Dubai, Anand Rathi Wealth began operations in FY02 as an AMFI certified mutual fund distributor and has grown into delivering well-researched solutions to clients by facilitating investments in financial instruments. The company's flagship Private Wealth (PW) sector offers the majority of its services, with Rs 29,472 crore in AUM as of August 2021. A team of 233 relationship managers serves 6,564 active client families in its private wealth vertical. According to market experts, the Anand Rathi IPO grey market premium (GMP) today is 125, up 25 from the evening GMP yesterday. Despite the gloomy attitude on Dalal Street, this GMP increased and reached a high of 100 yesterday evening.

Anand Rathi wealth IPO gmp today at the stock market

GMP stands for "grey market estimate" of the anticipated listing gain from the public offering. Because the Anand Rathi Wealth IPO GMP is currently 125, the grey market expects this public offering to list at a price of 675 (550 + 125), which is more than 20% more than the price band of 530 to 550 per equity share. Anand Rathi's initial public offering (IPO) is expected to take place on December 9, 2021, with shares of the wealth management firm possibly being listed on the NSE and BSE on December 14, 2021. In FY21, Anand Rathi Wealth made a profit of Rs 45.09 crore, down from Rs 61.61 crore the previous year. In the same period, revenue fell to Rs 265.33 crore from Rs 331.83 crore. On revenue of Rs 166.92 crore, profit for the five months ending August 2021 was Rs 51.08 crore. On December 14, trading in equity shares will begin on the BSE and NSE. The offer's book running lead managers are Equirus Capital, BNP Paribas, IIFL Securities, and Anand Rathi Advisors. The offer's registrar is Link Intime India.

(IMAGE: SHUTTERSTOCK)