Anand Rathi IPO To Open Today
Anand Rathi Wealth, a leading non-bank wealth solutions provider, will launch its initial public offering (IPO) today, December 2, and will close on Monday, December 6, 2021. The company has established a price range of 530 – 550 per equity share with a face value of Rs 5 for the IPO. Anand Rathi Wealth is Anand Rathi Financial Services’ wealth management division.
The company hopes to generate Rs 660 crore through this offering at the top of the price range. According to a recent statement from the company, the IPO consists of an offer for sale of up to 1,20,00,000 equity shares with a face value of Rs 5 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 offer’s goal is to reap the benefits of listing the shares on the stock exchanges. The offer includes a 2.5 lakh equity share reservation for the company’s employees, who will get the shares at a discount of 25 percent off the final issue price.The lowest lot size is 27 equity shares, and subsequent lots are in multiples of 27 equity shares. Individual retail investors can invest as little as 14,850 for one lot and as much as 1,93,050 for 13 lots.
Anand Rathi Wealth has been named one of the country’s top three non-bank mutual fund distributors. Clients can choose from a wide range of wealth management, financial product distribution, and technological solutions offered by the organisation.
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