InvestorQ : Can you give me some quick details about the forthcoming Anand Rathi Wealth IPO?
Sam Eswaran made post

Can you give me some quick details about the forthcoming Anand Rathi Wealth IPO?

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Moii Chavate answered.
5 months ago
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Here is what you need to know about the Anand Rathi Wealth IPO.

· Anand Rathi Wealth IPO will open on 02-Dec and close for subscription on 06-Dec due to a couple of holidays coming in between.

· The IPO price has been fixed in the band of Rs.530 to Rs.550, but the Rs.173 crore anchor placement on 01-Dec happened at the upper end of the price band at Rs.550.

· The IPO is entirely an offer for sale by the promoters and early investors who will offer a total of 1.20 crore shares in total as part of the OFS.

· Since there is no fresh issue component, there will be no fresh funds coming in the company and there only be a change of ownership.

· The total issue size is worth Rs.660 crore and pegs the valuation of Anand Rathi Wealth at around Rs.2,989 crore of market capitalization.

· Investors can bid for minimum 27 shares with retail upper limit of 13 lots, translating into a maximum retail application of 351 shares.

· Anand Rathi Wealth has been making profits in the last 3 years, although the profits fell in FY21 due to the impact of COVID-19.

· Anand Rathi had over 6,500 clients and handles over Rs.30,000 crore as assets under management and advice.

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