{"id":6340,"date":"2021-12-01T21:40:22","date_gmt":"2021-12-01T16:10:22","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-anchor-anand-rathi\/"},"modified":"2021-12-01T21:40:22","modified_gmt":"2021-12-01T16:10:22","slug":"biz-anchor-anand-rathi","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-anchor-anand-rathi\/","title":{"rendered":"Ahead of IPO, Anand Rathi Wealth raises Rs 194 cr from anchor investors"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2007516363\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>New Delhi, Dec 1 (PTI) Anand Rathi Wealth Ltd, part of Mumbai-based financial services group Anand Rathi, on Wednesday said it has raised Rs 194 crore from anchor investors, ahead of its initial share-sale on Thursday.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1631510320\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p>        The company has decided to allocate 35.25 lakh equity shares to 12 anchor investors at Rs 550 apiece, valuing the transaction size at Rs 194 crore, according to a BSE circular.<\/p>\n<p>        SBI Mutual Fund (MF), ICICI Prudential MF, Franklin Templeton MF, DSP MF, Kotak MF, Invesco MF, Canara Robeco MF, Nippon India MF, Abakkus, Quant MF, MK Cohesion, Rajasthan Global are among the investors that participated in the anchor book.<\/p>\n<p>        Out of the total allocation of 35.25 lakh equity shares, 31.58 lakh were allocated to mutual funds through schemes amounting to Rs 173.69 crore, which is 89.59 per cent of the total anchor book size.<\/p><div class=\"trade-content_5\" id=\"trade-337527052\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>        The initial share-sale is entirely an offer for sale (OFS) of 1.2 crore equity shares by promoters and existing shareholders.<\/p>\n<p>        The OFS consists of sale of 92.85 lakh equity shares by Anand Rathi Financial Services, and 3.75 lakh equity shares each by Anand Rathi, Pradeep Gupta, Amit Rathi, Priti Gupta, Supriya Rathi, Rawal Family Trust, and Feroze Azeez, and 90,000 equity shares by Jugal Mantri.<\/p>\n<p>        The issue includes a reservation of 2.5 lakh equity shares for employees.<\/p>\n<p>        The issue opens for public subscription on December 2 and will conclude on December 6. Price band for the issue has been fixed at Rs 530-550 apiece.<\/p>\n<p>        The public issue is expected to fetch Rs 660 crore at the upper end of the price band.<\/p>\n<p>        Half of the issue size has been reserved for qualified institutional buyers (QIBs), 15 per cent for non-institutional investors, while the 35 per cent has been set aside for retail investors.<\/p><div class=\"trade-content-10\" id=\"trade-1717809765\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>        Investors can bid for a minimum of 27 equity shares and in multiples of thereafter.<\/p>\n<p>        Anand Rathi Wealth operates in the financial services industry with a focus on mutual fund distribution and sale of financial products.<\/p>\n<p>        The company commenced activities in fiscal 2002 and is an AMFI (Association of Mutual Funds of India) registered mutual fund distributor. It has evolved into providing well researched solutions to its clients through a mix of wealth solutions, financial product distribution and technology solutions.<\/p>\n<p>        Since March 31, 2019 until August 31st this year, the company&#8217;s Asset Under Management (AUM) has grown at a CAGR (Compound Annual Growth Rate) of 22.74 per cent to Rs 302.09 billion. Till August this year, the company&#8217;s flagship Private Wealth vertical catered to 6,564 active client families across the country.<\/p>\n<p>        In addition to the Private Wealth vertical, the  company has two new age technology led business verticals&#8211; Digital Wealth and Omni Financial Advisors.<\/p>\n<p>        Equirus Capital Private Limited, BNP Paribas, IIFL Securities Limited and Anand Rathi Advisors Limited have been appointed as the merchant bankers to advise the company on the IPO.<\/p>\n<p>        The equity shares of the company will be listed on BSE and NSE.<\/p>\n<p>        Earlier in September 2018, the company had filed draft papers with Sebi to raise Rs 425 crore through an IPO. However, the firm later withdrew its proposed public issue. PTI SP MR   RUJ RUJ<\/p>\n<div class=\"trade-after-content\" id=\"trade-75575682\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>New Delhi, Dec 1 (PTI) Anand Rathi Wealth Ltd, part of Mumbai-based financial services group Anand Rathi, on Wednesday said it has raised Rs 194 crore from anchor investors, ahead of its initial share-sale on Thursday. The company has decided to allocate 35.25 lakh equity shares to 12 anchor investors at Rs 550 apiece, valuing [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1516,31],"tags":[],"class_list":["post-6340","post","type-post","status-publish","format-standard","hentry","category-ipo","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ahead of IPO, Anand Rathi Wealth raises Rs 194 cr from anchor investors - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-anchor-anand-rathi\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ahead of IPO, Anand Rathi Wealth raises Rs 194 cr from anchor investors\" \/>\n<meta property=\"og:description\" content=\"New Delhi, Dec 1 (PTI) Anand Rathi Wealth Ltd, part of Mumbai-based financial services group Anand Rathi, on Wednesday said it has raised Rs 194 crore from anchor investors, ahead of its initial share-sale on Thursday. 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