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The initial public offering of Anand Rathi Wealth Ltd, the wealth management arm of Anand Rathi Financial Services, will open on 2 December for subscription and close on 6 December.

The IPO consists of a pure offer for sale of upto 12 million shares by its existing shareholders and promoters. The OFS comprises upto 9.29 million shares by Anand Rathi Financial Services Ltd, upto 3.75 lakh shares each by Anand Rathi, Pradeep Gupta Supriya Rathi, Feroze Azeez and Rawal Family Trust and upto 90000 shares by Jugal Mantri.

As of March 2021, Anand Rathi holds 12.85% stake in the firm while Pradeep Gupta has 5.48% stake. ARFSL holds 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.

Anand Rathi Wealth is one of the leading non-bank wealth solutions firms in India and has been ranked amongst the top three non-bank mutual fund distributors in India by gross commission earned in Fiscal 2020.

The firm provides services primarily through its flagship Private Wealth (PW) vertical where it manages 260.58 billion in AuM as on March 2021. PW vertical caters to 6,109 active client families, serviced by a team of 233 RMs.

As of March 2021, its total revenue stood at 279.25 crore against 336.41 crore a year ago. Net profit for the period was at 45.10 crore versus 61.61 crore last year. Total debt stood at 33.36 crore.

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