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Today (Monday, December 6) will be the last date for subscription of Anand Rathi Wealth IPO. Till now, the issue has been subscribed 3.02 times. The IPO, which opened for subscription on Thursday, has come out with a price band of ₹530-550 a share. The market lot is 27 shares.
The IPO is entirely of an offer of sale (OFS) comprising of 1.20 crore equity shares.
The issue received bids for 2.56 crore shares as against 84,75,000 shares on offer, subscribing 3.02 times, till the end of Friday.
The ₹660-crore IPO saw a strong response from retail investors (4.77 times) and HNIs or non-institutional investors (3.06 times). The portion set aside for employee’s quota was subscribed 0.66 times and the quota for qualified institutional buyers subscribed 0.17 times.
Ahead of the IPO, Anand Rathi Wealth on Wednesday approved allocation of 35.25 lakh shares to anchor investors at ₹550 a share, aggregating to ₹193.87 crore.
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