Anand Rathi Wealth IPO to list on exchanges today; what investors can expect?

Shares of Anand Rathi Wealth Ltd is all set to be listed on exchanges on Tuesday, December 14, 2021. Initial Public Offer (IPO) of Anand Rathi saw the issue getting subscribed 9.78 times on the last day on December 6. The IPO had opened on December 2. The three-day Rs 660-crore IPO received bids for 8,29,21,509 shares as against allotted 84,75,000 shares.    

The non-institutional investors category saw maximum subscription with the category getting booked 25.42 times. The 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. The equity shares of the company will be listed on BSE and NSE.     

Zee Business Managing Editor Anil Singhvi said one cannot expect huge listing gain from this IPO. However, he suggested to subscribe. " Apply for small listing gain and long-term," he said.  

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Marwadi Shares and Finance Limited has given a subscribe rating for this IPO.  "Considering the FY-22 annualized EPS of Rs.29.46 on the post-issue basis, the company is going to list at a P/E of 18.67x with a market cap of Rs.22,889 mn, while its peer namely IIFL Wealth Management is trading at P/E of 24.59x (FY22 annualized). We assign a “Subscribe” rating to this IPO," it had said. 

Manoj Dalmia, founder and Director, Proficient equities Private limited has suggested to apply only if the issue is oversubscribed on the final day, with the majority being NII and anchor investors," said  

Anand Rathi Wealth operates in the financial services industry with a focus on mutual fund distribution and the sale of financial products. The company commenced activities in fiscal 2002 and is AMFI 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 to a wide spectrum of clientele.