Nifty 17938.4 (-0.96%)
Sensex 60098.82 (-1.08%)
Nifty Bank 38041.35 (-0.44%)
Nifty IT 37281.7 (-2.13%)
Nifty Financial Services 18269.95 (-1.08%)
Adani Ports 744.20 (-2.46%)
Asian Paints 3280.40 (-2.77%)
Axis Bank 729.60 (0.61%)
B P C L 394.35 (-0.94%)
Bajaj Auto 3436.80 (1.05%)
Bajaj Finance 7571.80 (-2.22%)
Bajaj Finserv 18077.30 (-0.42%)
Bharti Airtel 703.70 (-1.49%)
Britannia Inds. 3575.65 (-1.28%)
Cipla 895.65 (-0.72%)
Coal India 163.90 (1.93%)
Divis Lab. 4481.50 (-1.01%)
Dr Reddys Labs 4684.95 (-0.18%)
Eicher Motors 2718.70 (-0.64%)
Grasim Inds 1806.50 (-2.47%)
H D F C 2620.25 (-1.59%)
HCL Technologies 1199.20 (-1.68%)
HDFC Bank 1518.45 (-0.71%)
HDFC Life Insur. 656.05 (-1.95%)
Hero Motocorp 2699.80 (0.26%)
Hind. Unilever 2309.90 (-2.52%)
Hindalco Inds. 504.80 (1.77%)
I O C L 125.10 (0.93%)
ICICI Bank 808.60 (-1.76%)
IndusInd Bank 893.25 (-0.71%)
Infosys 1867.05 (-2.80%)
ITC 220.35 (-0.18%)
JSW Steel 674.65 (-0.82%)
Kotak Mah. Bank 1905.65 (-1.88%)
Larsen & Toubro 2020.90 (-0.06%)
M & M 894.40 (0.25%)
Maruti Suzuki 8015.70 (1.27%)
Nestle India 18937.00 (-2.28%)
NTPC 134.80 (-0.15%)
O N G C 170.25 (3.91%)
Power Grid Corpn 204.65 (-0.24%)
Reliance Industr 2521.60 (-0.01%)
SBI Life Insuran 1248.10 (-1.41%)
Shree Cement 26402.25 (-2.77%)
St Bk of India 515.80 (1.78%)
Sun Pharma.Inds. 838.50 (-0.97%)
Tata Consumer 717.65 (-1.89%)
Tata Motors 520.85 (1.97%)
Tata Steel 1209.60 (1.23%)
TCS 3914.65 (-1.90%)
Tech Mahindra 1670.10 (0.56%)
Titan Company 2588.90 (-0.45%)
UltraTech Cem. 7434.40 (-1.61%)
UPL 813.25 (1.77%)
Wipro 621.15 (-1.92%)

Anand Rathi Wealth IPO - Subscription Day 1

Anand Rathi Wealth IPO - Subscription Day 1
IPO
by 5paisa Research Team 02/12/2021

The Rs.660 crore IPO of Anand Rathi Wealth, consisting entirely of an offer for sale (OFS) of Rs.660 crore, saw decent response on Day-1 of the IPO. As per the combined bid details put out by the BSE at the close of Day-1, Anand Rathi Wealth IPO was subscribed 1.60X overall, with strong demand coming from the retail segment and the HNI segment with hardly any action seen in the QIB counters. The issue closes for subscription on 06th December.

As of close of 02nd December, out of the 84.75 lakh shares on offer in the IPO, Anand Rathi Wealth saw bids for 136.01 lakh shares. This implies an overall subscription of 1.60X. The granular break-up of subscriptions was dominated by the retail investors followed by the HNIs.

The QIB response was almost absent. However, the QIB bids and NII bids are expected to gather momentum on the last day, as is the general trend in the IPO market.
 

Anand Rathi Wealth IPO Subscription Day-1

 

Category

Subscription Status

Qualified Institutional Buyers (QIB)

0.01 Times

Non Institutional Investors (NII)

1.93 Times

Retail Individuals

2.45 Times

Employees

0.42 Times

Overall

1.60 times

 

QIB Portion

Let us first talk about the pre-IPO anchor placement. On 01st December, Anand Rathi Wealth did an anchor placement of 35,25,000 shares at the upper end of the price band of Rs.550 to 25 anchor investors raising Rs.193.88 crore, representing 29.38% of the total issue size.

The list of QIB investors included a number of marquee domestic anchor investors like SBI Mutual Fund, ICICI Pru MF, DSP Mutual Fund, Kotak Mutual Fund, Nippon India MF, Quant Fund, Canara Robeco Mutual Fund, Invesco India Fund, Abakkus Growth Fund, Cohesion India, Rajasthan Global Securities etc.


Check - Anand Rathi Wealth IPO - Information Note


The QIB portion (net of anchor allocation as explained above) has a quota of 23.50 lakh shares of which it has got bids for just about 0.18 lakh shares on Day-1, implying 0.01X subscription for QIBs at the close of Day-1. QIB bids typically get bunched on the last day but the robust demand for the anchor placement forebodes well for the Anand Rathi Wealth IPO subscription overall.

HNI / NII Portion

The HNI portion got subscribed 1.93X (getting applications for 34.09 lakh shares against the quota of 17.63 lakh shares). This is a relatively good response on Day-1 but of course this segment normally sees the maximum response bunched on the last day. Bulk of the funded applications and corporate applications, come in on the last day of the IPO.
 
Retail Individuals

The retail portion was subscribed a healthier 2.45X at the end of Day-1, showing strong retail appetite; as has been the general trend with smaller sized IPOs. It must be noted that retail allocation is 35% in this IPO.

For retail investors; out of the 41.13 lakh shares on offer, valid bids were received for 100.69 lakh shares, which included bids for 75.62 lakh shares at the cut-off price. The IPO is priced in the band of (Rs.530-Rs.550) and will close for subscription on 06th December 2021.

Also Read:-

Upcoming IPOs in 2021

Upcoming IPOs in December 2021

About the Author

Open Demat Account

Enter Mobile Number
Enter correct otp
Start investing in just 5 mins
Free Demat account, No conditions apply
  • 0%* Brokerage
  • Flat ₹20 per order
SENSEX
60,098.82
-656.04 (-1.08%)
Nifty 50
17,938.40
-174.65 (-0.96%)
Nifty Bank
38,041.35
-168.95 (-0.44%)
Next Article

Start Investing Now!

Open Free Demat Account in 5 mins

Enter Valid Mobile Number

Stocks Directory

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z All 0-9