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Home >Markets >Ipo >Anand Rathi Wealth files papers with Sebi for IPO

Anand Rathi Wealth Ltd on Tuesday filed a draft red herring prospectus (DRHP) with the Securities Exchange Board of India (Sebi) for an initial public offering (IPO). The IPO will comprise of an offer for sale of about 12 million shares by the company’s promoters and existing shareholders.

This will consist of an issue of 9.29 million shares by Anand Rathi Financial Services Ltd (ARFSL), up to 375,000 shares each by Anand Rathi, Pradeep Gupta, Amit Rathi, Priti Gupta, Supriya Rathi, Rawal Family Trust, Feroze Azeez and up to 90,000 shares by Jugal Mantri.

As of March 2021, Anand Rathi held a 12.85% stake in the firm, while Pradeep Gupta owned 5.48%. ARFSL held a 43.12% stake in the company.

Equirus Capital Pvt. Ltd, BNP Paribas, IIFL Securities and Anand Rathi are the book-running lead managers to the issue. The proceeds from the share sale will be received by the selling shareholders, and the company will not receive any of the proceeds.

Anand Rathi Wealth is one of the leading non-bank wealth solutions firms in India and has also been ranked among the top three non-bank mutual fund distributors in India by gross commission earned in the fiscal year 2019-20.

The firm provides services primarily through its flagship private wealth vertical where it manages 26,058 crore in assets under management (AUM) as on March 2021. The private wealth vertical caters to 6,109 active client families

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