 "Anand Rathi prices IPO at Rs 530-550 a share; size Rs 660 cr at upper end")
Anand Rathi Wealth has priced its initial public offering (IPO) between Rs 530 and Rs 550 per share. The IPO will open on December 2 and conclude on December 6.
The IPO is entirely an offer for sale of 12 million shares. At the upper end of the price band, the issue size works out to Rs 660 crore. Among the selling shareholders are promoter entities Anand Rathi Financial Services, Anand Rathi and Amit Rathi. At the top-end, the company is valued at about Rs 1,530 crore.
The company is a private wealth solutions provider. It is also the country’s leading mutual fund distributor (MFD). It has been ranked as three largest non-bank MFD by gross commission earned in Fiscal 2019, 2020 and 2021.
The company provides services through its flagship private wealth vertical. It has assets under management (AuM) worth Rs 29,470 crore as of August 31, 2021.
The company focuses on distributing financial products to the high net worth individual (HNI) segment. The company has a presence in 11 Indian cities and has a representative office in Dubai.
Equirus, BNP Paribas, IIFL Securities, and Anand Rathi advisors are the managers of the offer.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%