How was the listing day performance of Anand Rathi Wealth on 14th December?

Anand Rathi Wealth, the wealth management arm of the Anand Rathi group, had a relatively quiet listing at a premium of 9.09% on Tuesday 14-December. However, it lost some of the early gains by the end of the day. Some premium on listing was expected after the 9.78 times subscription and the consistent GMP shown in the market. It may be recollected that the IPO was priced at the upper end of the band at Rs.550.

On the NSE, the stock listed at a premium of 9.09% over the issue price at Rs. 600, while it listed slightly higher on the BSE at Rs.602.05. The stock however closed the day at Rs. 585, a first day closing premium of just 6.36% on the day of listing. During the day, on the NSE, the stock of Anand Rathi Wealth touched a high of Rs.615 and a low of Rs.565.55. The premium compressed through the day and had lost some of the early momentum by day-end.

In terms of volumes on the NSE, Anand Rathi Wealth traded 139.31 lakh shares valued at Rs.823.24 crore on the first day, making it the tenth most active share on NSE by traded value. Even on the BSE, the stock was ranked seventh in traded value terms with trades of 8.87 lakh shares valued at Rs.52.56 crore. As of the close of the first day of trading, Anand Rathi Wealth had a market capitalization of Rs.2,429 crore.