The IPO of India's leading non-banking asset resolution firm Anand Rathi Firm opened for subscription today. Its IPO will be open for investors till December 6. The company plans to raise Rs.660 crore through its public issue and the company has fixed the issue price band at Rs.530 to Rs.550 per equity share.
Ahead of the subscription opening date, the gray market has started receiving positive signals regarding the IPO of Anand Rathi. As per market analysts, Anand Rathi Wealth shares are available at a premium of Rs 130 in Gray Market today. On the other hand, the Gray Market Premium (GMP) of Anand Rathi IPO today stands at Rs 130, which is Rs 5 more than last evening's GMP. According to market analysts, shares of Anand Rathi Wealth became available in gray market at a premium of Rs 85 since Tuesday morning.
The allotment of shares is expected on December 9. At the same time, this company can also list its shares on BSE and NSE on December 14. Anand Rathi Wealth sells mutual fund allocation and financial products in the financial services industry. This company started its operations in the year 2002 and is an AMFI Registered Mutual Fund Distributor.
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