Anand Rathi IPO will open for subscription on Thursday, December 2, and can conclude on December 6, the Mumbai-based firm has mentioned.
Anand Rathi Wealth, which is part of monetary providers group Anand Rathi, filed draft papers with Sebi to lift ₹425 crore by means of an IPO in September 2018. Nevertheless, the agency later withdrew its proposed public situation.
Anand Rathi Wealth mentioned on Tuesday it has mounted a value band of ₹530-550 a share for its ₹660-crore IPO.
The preliminary share sale is fully a proposal on the market (OFS) of 1.2 crore fairness shares by promoters and current shareholders.
The OFS consists of the sale of 92.85 lakh fairness shares by Anand Rathi Monetary Providers and three.75 lakh fairness shares every by Anand Rathi, Pradeep Gupta, Amit Rathi, Priti Gupta, Supriya Rathi, Rawal Household Belief, and Feroze Azeez, and 90,000 fairness shares by Jugal Mantri.
The difficulty features a reservation of two.5 lakh fairness shares for workers.
On the higher finish of the value band, the preliminary share sale is predicted to fetch ₹660 crore.
Half of the difficulty dimension has been reserved for certified institutional patrons (QIBs), 15 per cent for non-institutional traders, whereas 35 per cent has been put aside for retail traders.
Traders can bid for no less than 27 fairness shares and in multiples of thereafter.
Equirus Capital Personal Restricted, BNP Paribas, IIFL Securities Restricted and Anand Rathi Advisors Restricted have been appointed as service provider bankers to advise the corporate on the IPO.
Anand Rathi’s fairness shares can be listed on BSE and the Nationwide Inventory Alternate (NSE).