Anand Rathi IPO Witnesses 5.06 Times Subscription On Final Day

The portion reserved for retail investors was subscribed 6.73 times, while the employees put bid 1.05 times for their portion.
Anand Rathi IPO Witnesses 5.06 Times Subscription On Final Day

New Delhi: The Initial Public Offering (IPO) of Anand Rathi Wealth witnessed 5.06 times subscription on the final day i.e. on December 6, 20201.

As compare to company's IPO size of 84.75 lakh equity shares, it garnered bids for 4.28 crore equity shares.

The Qualified Institutional Buyers (QIB) reserved portion witnesses 37 percent subscription, while NII investors subscribed the issue 7.96 times.    

The portion reserved for retail investors was subscribed 6.73 times, while the employees put bid 1.05 times for their portion.

The company is mulling to raise Rs 660 crore from the public issue and the price band has been fixed at Rs 530 to Rs 550 per equity share. The IPO is purely an offer for sale (OFS) of 1.2 crore equity shares by promoters and existing shareholders

Anand Rathi IPO GMP Today

According to IPO Watch, the Grey Market Premium (GMP) of Anand Rathi Wealth is Rs 60

Shares Lot

The minimum bid lot is 27 equity shares and multiples and investors can bid for a lot of 27 shares and multiple thereof. Around Rs 14,850 will have to be invested by a retail investor for one lot while 1.93 lakh for 13 lots.

Reserved Share

15 percent offer is reserved for Non-Institutional Investors (NNI) while 50 percent of the reserved for Qualified Investor Buyers (QIB). While on the other hand, 35 percent of the issue is reserved for retail investors.

However, about 2.5 lakh shares are reserved for employees of the company which they will get at a discount of Rs 25 of the issue price.

On the first day the issue witnessed a 42 percent subscription as it received bids for 35.34 lakh equity shares against the IPO size of 84.75 lakh equity shares on December 2.

Anand Rathi Wealth Profile

Anand Rathi Wealth is involved in financial services industry. Its focus is on mutual fund distribution and sales of other financial products. The company started its business in 2002 as an AMFI Registered Mutual Fund Distributor.

Also read:Tega Industries IPO: Know About Its GMP, Share Allotment And Listing Dates

Also watch:

Top Headlines

No stories found.
Sentinel Assam
www.sentinelassam.com