Market

Anand Rathi Wealth IPO subscribed 3 times on Day 2 on retail interest

The preliminary public provide of Anand Rathi Wealth Ltd, a part of Mumbai-based monetary companies group Anand Rathi, acquired 3.02 times subscription on the second day of share-sale on Friday.

The Rs 660-crore preliminary share-sale acquired bids for 2,55,81,204 shares towards 84,75,000 shares on provide, in response to NSE knowledge.

The class meant for retail particular person buyers acquired 4.77 times subscription, whereas non-institutional buyers portion bought 3.06 times and Qualified Institutional Buyers (QIBs), 17 per cent.

The preliminary public provide (IPO) of as much as 1,20,00,000 fairness shares is available in a worth vary of Rs 530-550 per share.

The IPO of Anand Rathi Wealth was absolutely subscribed on the primary day of subscription on Thursday.

Anand Rathi Wealth on Wednesday mentioned it has raised Rs 194 crore from anchor buyers.

It operates within the monetary companies business with a spotlight on mutual fund distribution and the sale of monetary merchandise.

The fairness shares of the company will probably be listed on BSE and NSE.

Equirus Capital, BNP Paribas, IIFL Securities and Anand Rathi Advisors are the managers to the provide.

(Only the headline and film of this report might have been reworked by the Business Standard workers; the remainder of the content material is auto-generated from a syndicated feed.)

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