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Updated December 2nd, 2021 at 08:00 IST

Anand Rathi Wealth IPO opens today: Check Issue date, GMP, Price Band And Other Details

Anand Rathi Wealth, registered AMFI as Mutual Fund Distributor, has been in business of private wealth since 2002, catering high & ultra-high worth individuals.

Reported by: Kamal Joshi
Anand Rathi Wealth
Image: PTI/Pixabay | Image:self
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The IPO (Initial Public offering) of Anand Rathi Wealth Limited opened for subscription on Thursday, December 2. The public issue will conclude on Monday, December 6. The price band has been fixed at Rs 530-550 per share. The wealth management company is one of the leading non-bank wealth solution firms in India. 

The Anand Rathi IPO aims to raise Rs 660 crore through the issue. The IPO is completely an OFS (Offer for Sale) of 1.2 crore shares by Anand Rathi, Rawal Family Trust, Anand Rathi Financial Services, Feroze Azeez and Jugal Mantri, the Mumbai based company informed in a statement.

Anand Rathi Wealth IPO: All you need to know

  • Anand Rathi IPO date: December 2- December 6
  • Price band: Rs 530-550 per equity share
  • Lot share: One lot contains 27 shares and in multiples thereof.
  • Anand Rathi IPO size: Rs 660 IPO comprises is entirely an OFS
  • Anand Rathi IPO share allotment date: The allotment of shares will likely take place on December 9
  • Anand Rathi IPO listing date: The issue is likely to list on December 14 on BSE and NSE
  • GMP of Anand Rathi Wealth IPO: The grey market premium (GMP) of the IPO on Wednesday was around Rs 120, which suggests a gain on the listing.

2.5 lakh shares have been reserved for the firm's employees who can avail these shares at Rs 25 discount of the final issue price. 50% has been reserved for QIBs (Qualified Institutional Buyers), 15% for NIIs (Non-Institutional Investors) and 35% for retail investors.

Anand Rathi Wealth Limited, registered AMFI as a Mutual Fund Distributor, has been in the business of private wealth since 2002. It caters to high and ultra-high net worth individuals. The firm, which has Rs 26,058 crore of assets under managed across 6,109 clients in India and globally, has offices in 11 locations: Mumbai, Delhi, Gurugram, Bengaluru, Kolkata, Pune, Chennai, Jodhpur and Chennai. It also has a representative in Dubai.

Anand Rathi is the founder, Chairman and non-executive director of the company. He has been associated with the company since March 2044. Anand is a Chartered Accountant with over 50 years of experience. Pradeep Gupta and Amit Rathi are non-executive directors.

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Published December 2nd, 2021 at 08:00 IST

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