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Anand Rathi Wealth IPO: Check latest GMP, subscription status

Anand Rathi Wealth initial public offer (IPO) was subscribed 1.60 times on day one of subscription. 

Anand Rathi Wealth IPO: Check latest GMP, subscription status

New Delhi: Anand Rathi Wealth Limited’s initial public offer (IPO) was fully subscribed on the first day of subscription on Thursday (December 2). The IPO’s latest grey market premium (GMP) and other details after day one on subscription are now public. 

The 660-crore initial share-sale of Anand Rathi Wealth Limited, part of Mumbai-based financial services group Anand Rathi, was received bids for 1,36,00,818 shares against 84,75,000 shares on offer. The subscription data suggests 1.60 times subscription of IPO, according to National Stock Exchange of India (NSE) data.

Anand Rathi Wealth IPO GMP 

Anand Rathi Wealth IPO’s GMP on December 2 is Rs 120, according to IPO Central. The company has fixed IPO’s price band of Rs 530 to Rs 550 for its upcoming initial public offering. 

This means that, at the upper price range, the share could list at about Rs 670. However, that figure is expected to change depending on how the IPO performs in the coming two days.

Anand Rathi Wealth IPO Subscription Status 

Anand Rathi Wealth IPO was subscribed 1.60 times on day one of subscription. The quota for Retail Individual Investors (RIIs) received 2.45 times subscription. In comparison,  the non-institutional investors portion received 1.93 times subscription and Qualified Institutional Buyers (QIBs) 1 per cent, PTI reported. Also Read: iPhone 13 lineup demand has weakened, says Apple: Report

The IPO includes only an offer for sale (OFS) of 1.2 crore equity shares by promoters and existing shareholders. Anand Rathi Wealth IPO consists of an offer for the sale of 92.85 lakh equity shares by Anand Rathi Financial Services. Another 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 will be up for bid in the IPO. Also Read: PM Kisan 10th instalment: Farmers could get Rs 2000 by Dec 15, check how to add name

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