Anand Rathi Wealth IPO: 10 things investors should know - Price band, open/close dates, lot size and other OFS details
Anand Rathi Wealth said it has fixed a price band of Rs 530-550 a share for its Rs 660-crore IPO.
Anand Rathi Wealth, part of Mumbai-based financial services group Anand Rathi, on Tuesday said it has fixed a price band of Rs 530-550 a share for its Rs 660-crore IPO, which will open for public subscription on December 2.
IPO
The three-day initial public offering (IPO) will conclude on December 6, the company said. The initial share sale is entirely an offer for sale (OFS) of 1.2 crore equity shares by promoters and existing shareholders. Pic: IANS
OFS
The OFS consists of the sale of 92.85 lakh equity shares by Anand Rathi Financial Services, and 3.75 lakh equity shares each by Anand Rathi, Pradeep Gupta, Amit Rathi, Priti Gupta, Supriya Rathi, Rawal Family Trust, and Feroze Azeez, and 90,000 equity shares by Jugal Mantri. Pic: Representational image from Pixabay
Shares for employees
The issue includes a reservation of 2.5 lakh equity shares for employees. At the upper end of the price band, the initial share sale is expected to fetch Rs 660 crore. Pic: Reuters
Issue size
Half of the issue size has been reserved for qualified institutional buyers (QIBs), 15 per cent for non-institutional investors, while 35 per cent has been set aside for retail investors. Representational image from Pixabay
Lot size
Investors can bid for a minimum of 27 equity shares and in multiples of thereafter. Pic: Representational image from Pixabay
Anand Rathi Wealth
Anand Rathi Wealth operates in the financial services industry with a focus on mutual fund distribution and the sale of financial products. The company commenced activities in fiscal 2002 and is AMFI registered mutual fund distributor. It has evolved into providing well-researched solutions to its clients through a mix of wealth solutions, financial product distribution and technology solutions to a wide spectrum of clientele. Pic: Representational image from Pixabay
AUM
From March 31, 2019, till August 31, 2021, the company's Asset Under Management (AUM) has grown at a CAGR of 22.74 per cent to Rs 302.09 billion. As of August 2021, the company's flagship Private Wealth vertical catered to 6,564 active client families across the country. Pic: Representational image from Pixabay
Business
In addition to the private wealth vertical, the company has two new-age technology-led business verticals -- Digital Wealth and Omni Financial Advisors. Pic: IANS
Listing
Equirus Capital Private Limited, BNP Paribas, IIFL Securities Limited Anand Rathi Advisors Limited have been appointed as merchant bankers to advise the company on the IPO. The equity shares of the company will be listed on BSE and NSE. Pic: Reuters
IPO papers filing
Earlier in September 2018, the company had filed draft papers with Sebi to raise Rs 425 crore through an IPO. However, the firm later withdrew its proposed public issue. Pic: Reuters