Anand Rathi Wealth is one of the leading non-bank wealth solutions companies in IndiaAnand 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 a going public (IPO).
The IPO will be an offer for sale of 1.2 crore shares by promoters and existing shareholders.
The shares are most likely to be listed on the BSE and NSE.The individuals in the offer for sale will be Anand Rathi Financial Providers, Anand Rathi, Pradeep Gupta, Amit Rathi, Priti Gupta, Supriya Rathi, Rawal Household Trust, Jugal Mantri and Feroze Azee, according to the draft red herring prospectus (DRHP).
Anand Rathi holds a 12.85 percent stake in Anand Rathi Wealth, while Pradeep Gupta owns 5.48 percent and ARFSL holds 43.12 per cent.As the primary market offering will be a market, the sale profits will be received by the selling investors and Anand Rathi Wealth will not get any monetary benefits.Anand Rathi Wealth is among the leading non-bank wealth services companies in India.
It operates in the monetary services market, with a concentrate on shared fund distribution and sale of monetary products.Equirus Capital, BNP Paribas, IIFL Securities and Anand Rathi Advisors are the merchant lenders to the general public concern.