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All that you should know about the Company before applying for the IPO.

December 01, 2021     

The public issue of equity shares of ANAND RATHI WEALTH LIMITED will open for subscription on December 02, 2021 and closes on December 06, 2021 It is expected to list on the stock exchanges on December 14, 2021 What does the company do? Why is the company going public? Who are its key competitors? Its key strengths, and lot more. Here’s everything that you want to know about the company to analysis the IPO.

Company Profile

The Company is one of the leading non-bank wealth solutions firms in India. It has been ranked amongst one of the 3 largest non-bank mutual fund distributors in India by gross commission earned. The Company serves a wide spectrum of clients through a mix of wealth solutions, financial product distribution and technology solutions. It provides well researched solutions to its Clients by facilitating investments in financial instruments through an objective driven process. The Company claims to have a dominant position in the distribution of financial products, with a focus on the growing HNI segment (i.e., individuals with net worth between ₹ 5 - ₹ 50 crore).

The Company provides services primarily through its flagship Private Wealth (PW) vertical. In addition to PW vertical, it also has 2 other new age technology led business verticals, i.e., Digital Wealth (DW) and Omni Financial Advisors (OFA). DW vertical is a fin-tech extension of its service offerings and addresses the large mass affluent segment (i.e. group of individuals with financial assets between ₹ 1 million to ₹ 50 million) of the market with a wealth solution delivered through a ‘PHYGITAL channel’ i.e. a combination of human interface empowered with technology. Through OFA it provides a technology platform for Independent Financial Advisors to service their clients and grow their business. The Company also facilitates estate planning, succession planning and create wills, without charging any cost to its Clients.

Under PW vertical the Company manages ₹ 29,472 crore in Asset Under Management (AUM) as on August 31, 2021. The AUM of the Company comprises mutual fund schemes and other financial products such as bonds, Market Linked Debentures and other securities held by clients in their own demat accounts. Its Clients or active client families include client families/groups with at least ₹50 lakh in cumulative AUM. As of August 31, 2021, PW vertical caters to 6,564 active client families, serviced by a team of 233 Relationship Managers. Currently, the Company has presence across 11 cities in India, and have a representative office in Dubai.

Who are the Promoters of the Company?

Mr. Anand Rathi, Mr. Pradeep Gupta and Anand Rathi Financial Services Limited

Positives about the Company

  • One of the leading non-bank mutual fund distributors in India coupled with presence in Non-Convertible Market Linked Debentures.
  • Focus on the underserved and less price sensitive HNI segment.
  • Uncomplicated, holistic, and standardized solutions offered to clients based on an objective-driven approach.
  • Focus on value added services i.e., safety net and estate planning services.
  • Focused toward attracting and retaining talent through an entrepreneurial work culture.
  • Strategic approach to the marketing initiatives.

Who are its key competitors?

IIFL Wealth Management Ltd

Why is the Company going public?

Given below are the objectives of the Company –

  • To gain benefits of listing the Equity Shares on the Stock Exchanges.
  • Provide a public market for the Equity Shares in India.

The Offer is a 100% Offer for Sale issue. The Company will not receive any proceeds from the Offer for Sale and all proceeds from the Offer will go to the Selling Shareholders.

IPO Details

IPO Size ₹ 660 Crore*
Offer Mix 100% Offer For Sale
Price Band ₹ 530 - ₹ 550
Lot Size 27 Shares (& in multiples thereof)
Face Value ₹ 5
Application Amount Min. ₹ 14,850 (1 lot) | Max. ₹1,93,050 (13 lots) [at upper price band]
Listing on NSE & BSE
Registrar Link Intime India Private Limited
Cut-off time for UPI Mandate Confirmation 07-Dec-2021 (up to 12:00 PM)
* at upper price band

Category Wise Availability*

QIB ₹ 323.12 Crore
(50% of Net Issue Size)
NIB ₹ 96.94 Crore
(15% of Net Issue Size)
Retail ₹ 226.19 Crore
(35% of Net Issue Size)
Employee Reservation Portion ₹ 13.75 Crore
(2,50,000 Equity Shares)
* at upper price band

Indicative Issue Timeline

Activity Date
IPO Opens December 02, 2021
IPO Closes December 06, 2021
Finalization of the basis of allotment December 09, 2021
Unblocking of funds / Initiation of refunds December 10, 2021
Credit of equity shares to Demat accounts December 13, 2021
Listing of equity shares December 14, 2021
Source: Company RHP
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