Stock Market

Anand Rathi Wealth gets Sebi nod for IPO

Mumbai, 25 October 2021: Anand Rathi Wealth Limited, part of Mumbai-based financial services group Anand Rathi, one of the leading non-bank wealth solutions firms in India, has received the nod from the Securities and Exchange Board of India (SEBI) for its initial public offering (IPO).

The IPO is entirely an offer for sale (OFS) of 1,20,00,000 equity shares of face value of Rs 5 each by Promoter Selling Shareholders – Anand Rathi Financial Services Limited, Anand Rathi, Pradeep Gupta and Other Selling Shareholders – Amit Rathi, Priti Gupta, Supriya Rathi, Rawal Family Trust, Jugal Mantri, and Feroze Azeez, the company’s draft red herring prospectus (DRHP) showed. The Company will not receive any proceeds from the issuance.

The HNI focused company, ARWL commenced activities in 2002 as an AMFI registered mutual fund distributor and evolved into providing a mix of wealth solutions, financial product distribution and technology solutions to a wide spectrum of clientele. As per CARE Advisory Research the Mumbai based Company, has been ranked amongst the top three non-bank mutual fund distributors in India by gross commission earned in Fiscal 2020.

The Company’s business, measured in terms of AuM, which was ₹ 266.70 billion as of March 31, 2021 has grown consistently in the recent past at a CAGR 20.39% since March 31, 2019. As of March 2021, the private wealth vertical caters to 6,109 active client families, serviced by a team of 233 relationship managers.Over 50% of its clientele has been associated with the company more than 3 years. In addition, the Company has subsidiaries engaged in other new age technology led business verticals, i.e., Digital Wealth (“DW”) and Omni Financial Advisors (“OFA”).

India has the key ingredients of a high growth wealth management market and is on the move to become the fourth largest private wealth market globally. Experts are expecting Financial Assets to reach Rs.512 trillion at a CAGR of 14.27% and Physical Assets to grow at 8.14% CAGR to reach Rs.299 Trillion.
Investment Bankers appointed to the issue are Equirus Capital, BNP Paribas, IIFL Securities and Anand Rathi Advisors.

This news was shared to Prittle Prattle News via press release.

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