Anand Rathi Wealth Listing: Shares of Anand Rathi Wealth opened today on domestic stock exchanges. Investors who put money in the Rs 600 crore IPO of Anand Rathi Wealth got a listing gain of 9.46 per cent against the IPO price of Rs 550. Its shares were listed on BSE/NSE at a price of Rs 602.05. However, a few minutes after the listing, its shares broke down and slipped to a price of Rs 575.
Anand Rathi is the 56th company to be listed on the exchange this year. Its IPO was open for subscription on 2-6 December and received overwhelming response from all categories of investors and was oversubscribed on the very first day itself. This IPO got 9.78 times subscriptions.
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This is the opinion of experts regarding listing
- Santosh Meena, Research Head, Swastik Investments, said that the listing of Anand Rathi’s shares in the market was against the estimates. Meena has advised long term investors to hold the shares for a long time. On the other hand, investors who had invested in this for the purpose of listing gain should maintain a stop loss of Rs 550. On the other hand, new investors should wait for the fall in stocks to invest for the long term.
- Parth Nyati, founder of Tradingo, says that the issue was subscribed 9.78 times and after this, today Anand Rathi’s shares were listed at a premium of 10 percent, which remained as expected. Nyati believes that the wealth creation industry can perform better in the coming years. He has advised investors who have got shares through IPO to keep a stop loss of Rs 550 for short term, while long term investors have been advised to hold the stock for a long time. He has advised new investors to wait till the market stabilizes.
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what does the company do
Anand Rathi Wealth is one of the leading non-bank wealth solutions firm and among the top three non-bank mutual fund distributors in the country. The company offers products from Wealth Solutions, Financial Product Distribution and Technology Solutions. This company provides services to its customers through its flagship private wealth vertical, whose Asset Under Management (AUM) was Rs 29.5 thousand crore as of 31 August 2021. The company’s PW vertical has 6564 active client families.
Talking about the financial position of the company, in the financial year 2019, it had a net profit (Profit After Tax) of Rs 58.43 crore, which increased to Rs 61.61 crore the next year. However, in the next financial year 2021, the net profit fell to Rs 45.09 crore. Talking about the current financial year, in the first five months i.e. April-August 2021, the company made a net profit of Rs 51.09 crore.
(Article: Harshita Tyagi)
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