Anand Rathi Wealth’s IPO has received good response from investors on the first day. Retail investors and non-institutional investors have shown great interest in this. So far this IPO has been subscribed 1.8 times. In the gray market also, this IPO price is selling at a premium of Rs 530-550 to 125. This stock was selling at a premium of Rs 100 in the gray market last week. This IPO of Rs 660 will close on 6 December.
Good response from retail investors
So far, the share reserved for QIBs is subscribed 0.01 times, while the share reserved for non-institutional investors i.e. NII is subscribed 2.03 times. The share reserved for retail investors is subscribed 2.82 times. Applications have been made for one crore shares as against 41 lakh equity shares reserved for retail investors. Half of the portion reserved for the employees of the company has been subscribed.
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Should you invest or not? Know the opinion of experts
- ICICI Direct says that Anand Rathi’s business is of wealth management. It is showing good growth in Ultra HNI segment. Given the company’s fundamentals and growth potential, its valuation looks fair. The valuation of the company on the upper band is 7.5 per cent of the AUM.
- Marwari Financial Services has given its opinion to subscribe. It says that the company is one of the leading non-banking mutual fund distributors in the country. It is also present in non-convertible market linked debentures. Marwari Financial has also justified its valuation.
- Referring to the company’s ROE, Nirmal Bang has said that in this matter it is ahead of its peer companies like IIFL Wealth and Edelweiss Wealth. The brokerage firm says that the company is performing well in its category. Accordingly, its valuation is reasonable. So it can be subscribed.
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