Anand Rathi Wealth Files IPO Papers With Market Regulator

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Anand Rathi Wealth is one of the leading non-bank wealth solutions companies in India

Anand Rathi Wealth, a part of the Mumbai-based financial services group Anand Rathi, has filed draft red herring prospectus (DRHP) with capital markets regulator SEBI to raise funds through an initial public offering (IPO). The IPO will be an offer for sale of 1.2 crore shares by promoters and existing shareholders. The shares are likely to be listed on the BSE and NSE.

The participants in the offer for sale will be Anand Rathi Financial Services, Anand Rathi, Pradeep Gupta, Amit Rathi, Priti Gupta, Supriya Rathi, Rawal Family Trust, Jugal Mantri and Feroze Azee, according to the draft red herring prospectus (DRHP). Anand Rathi holds a 12.85 per cent stake in Anand Rathi Wealth, while Pradeep Gupta owns 5.48 per cent and ARFSL holds 43.12 per cent.

As the primary market offering will be an offer for sale, the sale proceeds will be received by the selling shareholders and Anand Rathi Wealth will not receive any financial benefits.

Anand Rathi Wealth is one of the leading non-bank wealth solutions companies in India. It operates in the financial services industry, with a focus on mutual fund distribution and sale of financial products.

Equirus Capital, BNP Paribas, IIFL Securities and Anand Rathi Advisors are the merchant bankers to the public issue.



Source link NDTV.com

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