Anand Rathi Wealth IPO subscribed 3 times on Day 2 on retail interest

Anand Rathi Wealth’s IPO was subscribed nearly 3 times on Friday. The Rs 660-crore IPO closes on Monday. The wealth manager has already allotted shares worth Rs 194 crore to anchor investors. The retail portion of the IPO has already been subscribed nearly 5 times. 

Anand Rathi is a private wealth solutions provider and a mutual fund distributor. It has assets under management stood at Rs 29,470 crore as of August 31.

At the top-end of the price band, the company is valued at Rs 2,290 crore.