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Anand Rathi Wealth’s ₹660-crore IPO opens on December 2

Our Bureau | | Updated on: Nov 30, 2021

Fixes price band at ₹530–550 a share

Anand Rathi Wealth, a leading non-bank wealth solutions firm, plans to raise about ₹660 crore through an initial public offer. The issue will open for subscription between Thursday and Monday (December 2-6).

The price band for the offer has been determined at ₹530–550 a share. The issue will open for anchor investor on Wednesday.

Minimum bid lot is 27 equity shares and multiples.

OFS only

The issue is completely an offer for sale of up to 1.20 crore equity shares by 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.

The company commenced activities in the fiscal year 2002 and is an AMFI-registered mutual fund distributor.

As per Care Advisory Research, the company was ranked among one of the top three non-bank mutual fund distributors in India by gross commission earned in the last three fiscals.

The company’s asset under management has grown at a CAGR of 23 per cent to ₹302 crore between March 31, 2019 and August 31, 2021. As on August-end, the company’s flagship private wealth vertical catered to 6,564 active client families. Over 50 per cent of its clientele has been associated with Anand Rathi Wealth for over three years.

Published on November 30, 2021

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