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The ₹600-crore Anand Rathi Wealth IPO was subscribed 9.78 times on the last day of subscription on Monday. The issue received bids for 8.29 crore shares against 84,75,000 shares on offer. The IPO, which opened for subscription on December 2 at the price band of ₹530-550, is entirely an offer of sale. The issue saw a strong response from retail investors (7.76 times) and HNIs or non-institutional investors (25.42 times). The portion set aside for employee’s quota was subscribed 1.32 times and the quota for qualified institutional buyers was subscribed 2.50 times. Ahead of the IPO, Anand Rathi Wealth on Wednesday approved the allocation of 35.25 lakh shares to anchor investors at ₹550 a share, aggregating to ₹193.87 crore.
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