Anand Rathi Wealth IPO
Anand Rathi Wealth IPO — date, price band, lot size & details 2021
Anand Rathi Wealth listed on 14 Dec 2021 at ₹600, 9.1% above the ₹550 issue price.
Anand Rathi Wealth is a non-bank wealth solutions firm that serves HNI families through its Private Wealth vertical. It managed AUM of Rs 294.72 billion on 31 August 2021.
Stock price
Anand Rathi Wealth is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 14 November.
- Open 02 Dec 2021
- Close 06 Dec 2021
- Allotment 09 Dec 2021
- Refund/credit 10 Dec 2021
- Listing 14 Dec 2021
Issue summary
The terms of the offer, as filed.
| IPO Dates | 2 to 6 Dec, 2021 |
|---|---|
| Price Band | ₹530 – ₹550 |
| Face Value | ₹5 |
| Lot Size | 27 Shares |
| Issue Size | ₹659.38 Cr |
| Sale Type | OFS only |
| Listing On | BSE, NSE |
| Employee Discount | Rs 25.00 per share |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,850 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 27 shares at the ₹550 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 27 | ₹14,850 |
| Retail (max) | 13 | 351 | ₹1,93,050 |
| S-HNI (min) | 14 | 378 | ₹2,07,900 |
| S-HNI (max) | 67 | 1,809 | ₹9,94,950 |
| B-HNI (min) | 68 | 1,836 | ₹10,09,800 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Profit after tax was Rs 51.09 crore in the five months to 31 August 2021, already above the full FY2021 figure of Rs 45.10 crore.
- 02Private Wealth AUM was Rs 294.72 billion on 31 August 2021, from 6,564 active client families.
- 03Net worth grew from Rs 123.94 crore on 31 March 2019 to Rs 286.79 crore on 31 August 2021.
- 04Total borrowing was modest at Rs 31.23 crore on 31 August 2021.
- 05It ranked among the top three non-bank mutual fund distributors, with 233 relationship managers.
Risks · 5
- 01The whole Rs 659.38 crore issue was offer for sale, so no money went to the company.
- 02Total income fell from Rs 336.41 crore in FY2020 to Rs 279.25 crore in FY2021.
- 03Income depends on market levels and client flows, so a market fall can cut fees quickly. AUM was Rs 294.72 billion on 31 August 2021.
- 04The pre-issue P/E was 50.74 at the upper band of Rs 550, based on EPS of Rs 10.84.
- 05Promoters and the promoter group held 74.73% before the issue and 48.82% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Anand Rathi Wealth offer document.
| Metric | 31 Aug 2021 | 31 Mar 2021 | 31 Mar 2020 | 31 Mar 2019 |
|---|---|---|---|---|
| Assets | 402.32 | 339.40 | 409.06 | 230.83 |
| Total Income | 168.90 | 279.25 | 336.41 | 284.19 |
| Profit After Tax | 51.09 | 45.10 | 61.61 | 58.43 |
| EBITDA | 75.69 | 83.76 | 111.07 | 106.25 |
| NET Worth | 286.79 | 241.28 | 185.52 | 123.94 |
| Reserves and Surplus | 265.99 | 227.53 | 172.01 | 110.48 |
| Total Borrowing | 31.23 | 33.36 | 41.73 | 0.60 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Anand Rathi Wealth RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Anand Rathi Wealth IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹10.84 | ₹29.46 |
| P/E Ratio (x) | 50.74 | 18.67 |
| Market Cap at Offer Price (₹ Cr) | ₹2,592.20 | ₹953.82 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹550 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
How the company intends to use the proceeds of the issue.
Information about the usage of proceeds from the Anand Rathi Wealth IPO will be updated shortly.
Anand Rathi Wealth IPO Anchor Investors
19 anchor investors across 10 fund houses committed ₹193.86 Cr a day before the issue opened.
Anchor investors bid a day before the issue opens and are locked in after allotment, so a book weighted towards domestic mutual funds is generally read as a stronger signal than one filled by short-horizon funds. Browse every anchor investor scheme or fund house we track.
About the company
It offers wealth solutions, financial product distribution and technology solutions. Its flagship Private Wealth vertical managed Rs 294.72 billion of AUM on 31 August 2021 for 6,564 active client families through 233 relationship managers.
It also runs two newer technology-led verticals, Digital Wealth and Omni Financial Advisors. It is present in 11 cities in India and focuses on the HNI segment.
The IPO was Rs 659.38 crore and was entirely an offer for sale, so the company received none of the money.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Anand Rathi Wealth IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Equirus Capital Pvt.Ltd.
36 issues handledBest listing: G R Infraprojects (+105.0%). Weakest: Metro Brands (-12.6%).
IIFL Capital Services Limited
146 issues handledBest listing: Unicommerce eSolutions (+117.6%). Weakest: ICICI Securities (-16.3%).
Anand Rathi Advisors Ltd
30 issues handledBest listing: Paras Defence & Space Technologies (+168.0%). Weakest: Aanjaneya Lifecare (-6.8%).
BNP Paribas
10 issues handledBest listing: DOMS Industries (+77.2%). Weakest: Carraro India (-7.5%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Anand Rathi Wealth?
The current Grey Market Premium is ₹50, or 9% over the issue price.
What is the Anand Rathi Wealth IPO price band?
₹530 to ₹550, on a face value of ₹5.
When is the allotment?
The basis of allotment is 9 December 2021, with listing on 14 December 2021.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
