Mumbai, December 14, 2021 (GPN): 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.

Mr. 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.

Company Information 

Anand Rathi Wealth commenced activities in FY02 as an AMFI registered mutual fund distributor and has evolved into providing well researched solutions to clients by facilitating investments in financial instruments, with presence in 11 cities in India and a representative office in Dubai.

The company provides services primarily through its flagship Private Wealth (PW) vertical where it managed Rs 29,472 crore in AUM as on August 2021, which grew at a CAGR of 22.47 percent from FY19. Its private wealth vertical caters to 6,564 active client families, serviced by a team of 233 relationship managers.

As on August 2021, 54.69 percent of clients have been associated with the company for over 3 years, representing 73.55 percent of its total private wealth’s assets under management (AUM).

Anand Rathi Wealth reported profit of Rs 45.09 crore in FY21, lower than Rs 61.61 crore in the previous year. Revenue also declined to Rs 265.33 crore from Rs 331.83 crore in the same period. Profit for five-month ended August 2021 stood at Rs 51.08 crore on revenue of Rs 166.92 crore.