Anand Rathi Wealth IPO subscribed 9.78 occasions

The preliminary public provide of Anand Rathi Wealth Limited, a part of Mumbai-based monetary providers group Anand Rathi, obtained 9.78 occasions subscription by the closing day on Monday.
The Rs 660-crore IPO obtained bids for 8,29,21,509 shares in opposition to 84,75,000 shares on provide, in line with knowledge obtainable with the NSE.
The class for non-institutional traders was subscribed 25.42 occasions, Retail Individual Investors (RIIs) 7.76 occasions and Qualified Institutional Buyers (QIBs) 2.50 occasions.
The preliminary public provide of as much as 12,000,000 fairness shares had a worth vary of Rs 530-550 per share.

The firm had on Wednesday raised Rs 194 crore from anchor traders.
Anand Rathi Wealth operates within the monetary providers trade with a give attention to mutual fund distribution and the sale of monetary merchandise.
Equirus Capital, BNP Paribas, IIFL Securities and Anand Rathi Advisors have been the ebook working lead managers to the provide.