Anand Rathi Wealth Limited is a wealth management organisation. It is one of the country’s leading non-bank mutual fund distributors. Customers have a variety of capital management, financial instrument distribution, and technical options to choose from. It serves as a distributor of mutual funds. It distributes mutual fund schemes and is compensated by asset management firms for trailing distribution commissions. It also earns money by purchasing and selling non-convertible market linked debentures to clients.
Anand Rathi Wealth would raise INR 660 crore by selling 1.2 crore equity shares in a public offering, which is effectively an offer for sale by selling stockholders such as Anand Rathi Financial Services and Anand Rathi at a premium. The price range for this offer is INR 530-550 per equity share. After then, investors can bid for as few as 27 stock shares or as many as 27 equity shares. Qualified institutional buyers will get half of the offer, non-institutional investors would get 15%, and retail investors will get the remaining 35%.
As of August 2021, the company’s main Private Wealth division has 6,564 active customer groups, which were serviced by a workforce of 233 customer service representatives spread around the country. IIFL Securities, Anand Rathi Advisors, Equirus Capital, and BNP Paribas are the book running lead managers for the offer.
Anand Rathi IPO Tentative Timetable
|IPO Start||2nd December|
|IPO End||6th December|
|Type of Issue||Book Built Issue|
|Face Value||INR 5|
|Price Band||INR 530 to INR 550|
|Market Lot||27 Shares|
How To Check Anand Rathi IPO Allotment Status?
Once you applied for the shares of an IPO, the allotment process happens. The registrar does the allotment process. After the allotment is complete, if you’ve been allotted shares, you’ll get to know the actual number of shares that have been allotted.
The status of Anand Rathi’s initial public offering (IPO) is currently unavailable. However, once it is available, you can verify the status by going to the NSE’s website or the registrar’s website for the Anand Rathi IPO.
Applying for the IPO through TradeSmart, you get the advantage of receiving notifications and alerts. With the Tega Industries IPO we will keep you updated about the application process. We will keep you informed about the status of your application.
To check the Anand Rathi IPO allotment status, you’ll need the following information.
- Application Number
- PAN details
- DP Client ID
The allotment result looks as below:
- PAN No.: DHYFR18321J
- Application No.: RL041213805307
- Name: Mr. Rajeev Khanna
- Shares Applied: 27
- Shares Allotted: 27
In comparison to many peer companies, Anand Rathi Wealth has a better track record of revenue growth, higher operating margins, and a high return on equity. Investors can put money into the Anand Rathi initial public offering (IPO) for long-term gains.
The basis for allotment will be finalised on December 9, 2021, with refunds beginning on December 10, 2021, shares being credited on December 13, 2021, and shares being listed on December 14, 2021.
[…] Source link […]
[…] Source link […]