The shares of the company were trading at Rs 598.90, with a gain of 8.89 percent on the NSE at 1:55 pm. Meanwhile on the BSE, the shares were trading at Rs 599.50 at 1:55 pm
The shares of Anand Rathi Wealth Ltd made their debut on the stock market today, 14 December. The shares opened on both National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) with a gain of over 9 percent against the issue price of Rs 550.
On the NSE, the stock was listed with a premium of 9.09 percent to a value of Rs 600. While, on the BSE, the stock was listed with a gain of 9.46 percent to Rs 602.05, from the issue price of Rs 550. The shares of Anand Rathi Wealth further surged by 11.80 percent to Rs 614.95.
The three day subscription of Anand Rathi Wealth was subscribed 9.78 times by investors. The portion reserved for retail investors being booked 7.76 times while the non-institutional investor and qualified institutional buyer categories were booked 25.42 times and 2.50 times, respectively.
The 660-crore public issue of Anand Rathi was entirely an offer for sale by Anand Rathi Financial Services, Pradeep Gupta, Amit Rathi, Priti Gupta, Anand Rathi, Supriya Rathi, Rawal Family Trust acting through Rakesh Rawal, Feroze Azeez and Jugal Mantri, as per news reports, The company did not raise any money for itself. The shares of the IPO were priced from Rs 530 -500 per share.
Anand Rathi operates in the financial services industry and it is one of the India’s leading non-bank wealth solutions companies. It is among India’s top three non-bank mutual fund distributors. The company offers financial product distribution and technology and wealth solutions to its customers.
The wealth management company has is present in 11 cities including Bengaluru, Mumbai, Gurugram, Delhi, Hyderabad and Kolkata. Anand Rathi also has a representative office in Dubai.
As per a Moneycontrol report, Anand Rathi Wealth is the 56th company to list on the share market in 2021.