Comments
Shares of Anand Rathi Wealth will be listed at the bourses on Tuesday. The issue was subscribed 9.78 times and saw strong response from retail and non institutional investors.
The company has fixed the IPO price at ₹550/share.
The primary offering was entirely offer for sale (OFS) shares with a face value of ₹10 each, in which its existing shareholders and promoters are offloading 1.20 crore shares in the range of ₹530-550 each.
Retail investors had put in bid 7.76 times the shares reserved for them, while the part set aside for non-institutional investors was subscribed 25.42 times. Qualified institutional buyers portion was subscribed 2.50 times and the portion reserved for employees was subscribed 1.32 times.
Anand Rathi Wealth commenced activities in FY02 as an AMFI registered mutual fund distributor and has evolved into providing well researched solutions to clients by facilitating investments in financial instruments, with presence in 11 cities in India and a representative office in Dubai.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.