Anand Rathi IPO sees 3.66 times subscription on day 3, QIB portion booked 17%

Anand Rathi IPO sees 3.66 times subscription on day 3, QIB portion booked 17%

Anand Rathi IPO | Anand Rathi Wealth is planning to garner Rs 660 crore through its public issue that is entirely an offer for sale.





December 06, 2021 / 11:32 AM IST





Anand Rathi IPO



The initial public offering of Anand Rathi Wealth, one of the leading non-bank wealth solutions firms in India, has been subscribed 3.83 times on December 6, the final day of bidding, garnering bids for 3.24 crore equity shares against the IPO size of 84.75 lakh equity shares.

The reserved portion for qualified institutional buyers was subscribed 17 percent, and that of non-institutional investors saw 4.41 times subscription.

Retail investors continued to provide strong support to the issue with their allotted quota being subscribed 5.87 times, and employees have put in bids for 72 percent of the portion set aside for them.

Half of the offer size is reserved for qualified institutional investors, 35 percent for retail investors, and the remaining 15 percent for non-institutional investors. The company has reserved 2.5 lakh equity shares for its employees, at a discount of Rs 25 per share to the final offer price.

Anand Rathi Wealth is planning to garner Rs 660 crore through its public issue that