Shares of Anand Rathi Wealth Ltd made a decent debut on bourses. Anand Rathi Wealth Ltd shares were listed on the BSE at Rs 602.05 per share against its issue price of Rs 550 per share. This was a gain of Rs 52.05 or 9.46 percent.  

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Anand Rathi Wealth IPO had opened on December 2, 2021 and the three-day Rs 660-crore IPO closed on December 6.  Anand Rathi Wealth has fixed a price band of Rs 530-550 a share this IPO.

Earlier, Initial Public Offer (IPO) of Anand Rathi saw the issue getting subscribed 9.78 times on the last day on December 6. The three-day Rs 660-crore IPO received bids for 8,29,21,509 shares as against allotted 84,75,000 shares.      

The non-institutional investors category saw maximum subscription with the category getting booked 25.42 times. The retail investors booked the issue 7.76 times and the QIBs portion was subscribed 2.5 times. The employee's quota was also oversubscribed by 1.32 times. The equity shares of the company will be listed on BSE and NSE.      

Anand Rathi Wealth operates in the financial services industry with a focus on mutual fund distribution and the sale of financial products. The company commenced activities in fiscal 2002 and is AMFI registered mutual fund distributor. It has evolved into providing well-researched solutions to its clients through a mix of wealth solutions, financial product distribution and technology solutions to a wide spectrum of clientele.  

Zee Business Managing Editor Anil Singhvi had said one cannot expect huge listing gain from this IPO. However, he suggested to subscribe the issue. " Apply for small listing gain and long-term," he had said.