Anand Rathi Wealth IPO Day 3: Issue subscribed nearly 10 times, led by strong demand from NII
The IPO received bids for 8,29,21,509 shares as against the allotted 84,75,000 shares.
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Anand Rathi Wealth Ltd initial public offer (IPO) was subscribed 9.78 times till 5:00 pm on Monday, the last day to subscribe to this public offer. The IPO received bids for 8,29,21,509 shares as against the allotted 84,75,000 shares.
The most subscribed category so far was the non-institutional investors one as the portion reserved for NIIs was booked 24.24 times around the same times. Retail investors booked the issue 7.76 times and the QIBs portion was subscribed 2.5 times. The employee's quota was also oversubscribed by 1.32 times.
Earlier, Anand Rathi Wealth Ltd initial public offer IPO was subscribed 3.02 times on Friday, the second day of share sale. The issue received bids for 2,55,81,204 shares against 84,75,000 shares on offer, showed NSE data
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The Rs 660-crore initial share-sale issue that opened on December 2 will close on Monday, December 6, 2021.
Earlier, Zee Business Managing Editor Anil Singhvi had recommended for small listing gain. "Don't expect huge listing gain, apply for long-term," he said.
The equity shares of the company will be listed on BSE and NSE.
Equirus Capital, BNP Paribas, IIFL Securities and Anand Rathi Advisors are the managers to the offer.
Anand Rathi Wealth IPO Timeline
Application start date: December 2, 2021
Application end date: December 6, 2021
Allotment beginning date: December 9, 2021
Refund initiation date: December 10, 2021
Allotment date: December 12, 2021
Listing Date: December 14, 2021
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