Anand Rathi Wealth Makes its Public Debut, Lists at a 9% Premium

KOCHI:
Anand Rathi Wealth Limited (the “Company”), listed on the NSE at Rs 600 per share, at 9% premium over its issue price. The scrip got listed at BSE at Rs 602.05 per share, a 9.46% per cent premium over its issue price of Rs. 550. The shares of the company at day end closed at Rs.583.50 per share on BSE and at Rs. 585 per share on NSE. The initial public offering was offered at a lower price band of Rs. 530 per share and higher price band of Rs. 550 per equity share.

As per BSE, the total quantity traded stood at 8.87 lakh shares with a delivery quantity percentage of 48.15%. Total Quantity traded at NSE stood at 1.32 crore shares with a delivery quantity percentage of 40.97%. Total Turnover (BSE+NSE) on Day 1 stood at 875.79 Rs. crore.

Anand Rathi, Founder & Chairman, Anand Rathi Wealth Limited said “Sincere gratitude to all stakeholders and investors who have bestowed their faith in us. This is beginning of a new exciting journey for us and we are committed to shareholder value accretion in long run through consistent performance growth”.

The Market Capitalization of the Company post today’s closing price stood at Rs. 2,428.31 crore as per BSE and Rs. 2434.55 crore as per NSE.

The Initial Public Offering of the company was entirely an offer for sale with promoters and existing shareholders selling 1,20,00,000 equity shares and the issue was closed on 06th December 2021. The portion reserved for retail investors was subscribed 7.76 times. While the Qualified Institutional Buyer category was subscribed 2.50 times, the Non-Institutional Investor category was subscribed 25.42 times and the employee portion was subscribed 1.32 times. Overall the issue was subscribed 9.78 times.

Axis Rathi Securities Limited, BNP Paribas, Equirus Capital Private Limited and IIFL Securities Limited were the Book Running Lead Managers (“BRLM”) to the offer.