The initial public offering of Anand Rathi Wealth Limited, the wealth management arm of Anand Rathi Financial Services, will open for subscription on December 2 and close on December 6.
The IPO consists of a net offer for sale of 12 million shares by its existing shareholders and promoters. The OFS includes up to 9.29 million shares of Anand Rathi Financial Services Limited, up to 3.75 lakh shares held by Anand Rathi, Pradeep Gupta Supriya Rathi, Firoz Aziz and Rawal Family Trust and up to 90000 shares held by Jugal Mantri.
As of March 2021, Anand Rathi holds 12.85% stake in the firm while Pradeep Gupta holds 5.48%. ARFSL holds 43.12 per cent stake in the company.
Equirus Capital Private Limited, BNP Paribas, IIFL Securities and Anand Rathi are the Book Running Lead Managers of the issue.
Anand Rathi Wealth is one of the leading non-bank wealth resolution firms in India and has been ranked among the top three non-bank mutual fund distributors in India by gross commission earned in FY20.
The firm primarily provides services through its principal private funding (PW) vertical where it manages 260.58 billion in AUM as of March 2021. PW Vertical caters to 6,109 active client families, who are serviced by a team of 233 RM.
As of March 2021, its total revenue was 279.25 crore against 336.41 crore a year ago. Net profit for the period was 45.10 cr vs 61.61 crore last year. the total debt was 33.36 crores.
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