Anand Rathi Wealth Limited’s initial public offering to open on December 2, 2021

 Anand Rathi Wealth Limited’s initial public offering to open on

December 2, 2021

 

·         Price Band of ₹530 – ₹550 per equity share bearing face value of ₹5 each (“Equity Shares”). The Offer includes a discount of ₹ 25 to Eligible Employees bidding in the Employee Reservation Portion.

·         Bid/Offer Opening Date – Thursday, December 2, 2021 and Bid/Offer Closing Date – Monday, December 6, 2021.

·         Minimum Bid Lot is 27 Equity Shares and in multiples of 27 Equity Shares thereafter.

·         The Floor Price is 106 times the face value of the Equity Share and the Cap Price is 110 times the face value of the Equity Share

.Mumbai, November 30, 2021: Anand Rathi Wealth Limited, one of the leading non-bank wealth solutions firms in India is proposing to open its initial public offering of Equity Shares (the “Offer”) on Thursday, December 2, 2021 which will close on Monday, December 6, 2021. The price band for the Offer has been determined at ₹ 530 – ₹550 per Equity Share of face value of ₹ 5 each.

 

The initial public offering fully consists of an offer for sale of up to 1,20,00,000 Equity Shares of face value of ₹ 5 each by Anand Rathi Financial Services Limited, Anand Rathi, Pradeep Gupta, Amit Rathi, Priti Gupta, Supriya Rathi, Rawal Family Trust acting through Rakesh Rawal, Jugal Mantri, and Feroze Azeez (the “ Selling Shareholders”).

 

The Company and the Selling Shareholders have, in consultation with the Book Running Lead Managers, considered participation by Anchor Investors in accordance with the SEBI ICDR Regulations, whose participation shall be one Working Day prior to the Bid/Offer Opening Date, i.e. on Wednesday, December 01, 2021. The Offer is being made in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended, read with Regulation 31 of the SEBI ICDR Regulations. The Offer is being made through the Book Building Process, in compliance with Regulation 6(1) of the SEBI ICDR Regulations, wherein not more than 50% of the Net Offer shall be available for allocation to Qualified Institutional Buyers, not less than 15% of the Net Offer shall be available for allocation to Non-Institutional Investors and not less than 35% of the Net Offer shall be available for allocation to Retail Individual Investors.