Anand Rathi Wealth initial public offering to open on December 2

The price band of Rs530 – Rs550 per equity share bearing face value of Rs5 each (“Equity Shares”).

December 01, 2021 4:30 IST | India Infoline News Service
Initial Public Offer, IPO
Anand Rathi Wealth Limited, one of the leading non-bank wealth solutions firms in India is proposing to open its initial public offering of Equity Shares (the “Offer”) on Thursday, December 2, 2021, which will close on Monday, December 6, 2021.

The price band for the Offer has been determined at Rs530 – Rs550 per Equity Share of the face value of Rs5 each.

The initial public offering fully consists of an offer for sale of up to 1,20,00,000 Equity Shares of the face value of Rs5 each by Anand Rathi Financial Services Limited, Anand Rathi, Pradeep Gupta, Amit Rathi, Priti Gupta, Supriya Rathi, Rawal Family Trust acting through Rakesh Rawal, Jugal Mantri, and Feroze Azeez (the “ Selling Shareholders”).

Since March 31, 2019 till August 31, 2021, the Company’s Asset Under Management (AUM) has grown at a CAGR of 22.74% to Rs302.09 billion. As on August 31, 2021 the Company’s flagship Private Wealth vertical catered to 6,564 active client families across the country. Over 50% of its clientele has been associated with Anand Rathi Wealth Limited for more than 3 years. The Company has paid dividend at the rate of 50% in Fiscal 2021 and had issued bonus shares in August 2016 and July 2021.

Equirus Capital Private Limited, BNP Paribas, IIFL Securities Limited and Anand Rathi Advisors Limited are the book running lead managers to the Offer (“BRLMs”).

All capitalized terms used herein and not specifically defined shall have the same meaning as ascribed to them in the red herring prospectus dated November 26, 2021 (“RHP”) filed with the Registrar of Companies, Maharashtra at Mumbai (“RoC”).

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