What was last subscription status update on the Anand Rathi IPO?

Anand Rathi Wealth IPO closes for subscription on Monday 06 December. As per the BSE update at the close of Friday 03-Dec, the issue was subscribed 3.02 times overall. It had got subscriptions for 255.81 lakh shares against the 84.75 lakh shares on offer in the IPO. Typically, the QIB bids and non-institutional / HNI bids build up momentum only on the last day, as per the general trend in the IPO market.

Let me dwell on the QIB portion first. You must be aware that ahead of the IPO, Anand Rathi Wealth had done an anchor placement of 35.25 lakh shares at Rs.550 per share, which is the upper end of the price band. It had raised Rs.194 crore via anchor and reduced the QIB portion appropriately. For the balance 23.50 lakh shares left for the IPO, the QIB portion had got bids for just 3.90 lakh shares or a 17% subscription. But, it normally comes on last day.

The NII / HNI portion got applications for 53.89 lakh shares against the available HNI quota of 17.63 lakh shares, implying that the portion was subscribed 3.06 times. Here again, the funded and corporate applications come on the last day. The retail portion of the Anand Rathi Wealth IPO was subscribed 4.77 times. Out of 41.13 lakh shares on offer, bids were received for 196.37 lakh shares. The IPO closes on 06-Dec and we must await final numbers.