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Anand Rathi Wealth has created strong niche in Rs 5-50 crore investment category: Amit Rathi

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Anand Rathi Wealth has created strong niche in Rs 5-50 crore investment category: Amit Rathi

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Anand Rathi Wealth IPO: Anand Rathi Wealth's Amit Rathi says the company has created a strong niche in the Rs 5-50 crore investment category. Anand Rathi Wealth's IPO hit the Street on Thursday, and will close on December 6.

Anand Rathi Wealth has created a strong niche in the Rs 5-50 crore investment category, Managing Director Amit Rathi told CNBC-TV18, as the company's initial public offer (IPO) hit Dalal Street on Thursday. "Our job is to help clients achieve their goals," he added.

The Anand Rathi Wealth IPO, worth Rs 660 crore, is entirely an offer for sale (OFS) by promoters and existing shareholders, which means the company will not receive any proceeds from the offer.

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There is no need of primary capital in the company, said Amit Rathi. The idea behind listing Anand Rathi Wealth shares on the bourses is to increase visibility for the company, he said.
Anand Rathi Wealth shares are available for bidding in a price band of Rs 530-550 apiece in multiples of 27 under the IPO. The initial share sale will close for subscription on Monday, December 6
“From the ownership family and promoter group perspective, the idea was to list this business because it actually benefits from a visibility perspective, the target client segment that we are going after," Rathi said.
"At the end of the day, it is a B2C business and brand visibility is important for it, and the only way to facilitate listing effectively is an OFS," he added.
Anand Rathi Wealth shares are likely to be listed on stock exchanges BSE and NSE on December 14.
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