Business Standard

Anand Rathi Wealth IPO subscribed 3 times on second day

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Anand Rathi Wealth’s IPO was subscribed nearly 3 times on Friday. The ~660-crore IPO closes on Monday. The wealth manager has already allotted shares worth ~194 crore to anchor investors. The retail portion of the IPO has already been subscribed nearly 5 times. Anand Rathi is a private wealth solutions provider and a mutual fund distributo­r. It has assets under management stood at ~29,470 crore as of August 31. At the top-end of the price band, the company is valued at ~2,290 crore.

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