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Anand Rathi Wealth IPO GMP plunges; share allotment likely tomorrow, check status online via BSE, Link Intime

Anand Rathi IPOAnand Rathi Wealth IPO share allotment date is likely to be December 9.

By Harshita Tyagi

Anand Rathi Wealth Ltd shares’ grey market premium dived as much as 80% today to Rs 25, ahead of the allotment of IPO shares. The grey market premium on Annad Rathi shares fell from Rs 125 earlier, signaling a fall in positive sentiment around the stock ahead of market debut. Anand Rathi Wealth closed its IPO on Monday (6 December 2021), and is likely to finalise share allotment tomorrow. The price band for the issue was fixed at Rs 530-550 per share.

Based on the broader performance of FY21, the issue looked expensively priced which could be the reason behind the plunge in grey market premium, according to Manan Doshi, Co-Founder, UnlistedArena.com. While the 5-month period ending August 21 reflected exceptional performance, the consistency of such performance is arguable, he said.

“The industry outlook is promising, however, the recent performance of Anand Rathi is not encouraging whereas valuations are in line with listed peer IIFL Wealth. It saw a decent subscription figure for the IPO but this is not as euphoric as we have seen in many IPOs this year therefore we are seeing a drop in grey market premium,” said Santosh Meena, Head of Research, Swastika Investmart.

Anand Rathi Wealth IPO share allotment date is likely to be December 9. The shares may debut on stock exchanges on December 14. Here are two ways to check the IPO share allotment status online:

Through BSE Website

-Go to the official website of BSE

-On the ‘Status of Issue Application’ page, click on the ‘Equity’ option

-From the drop-down menu beside the issue name, select the option ‘Anand Rathi Wealth’ and enter your application number

-Fill in your Permanent Account Number or PAN and click on the Captcha that says ‘I am not a Robot’ and click on submit

-The details of the allotment status of your bid will be displayed. The status will be visible only after the share allotment gets finalised.

Through Registrar’s Website (Link InTime India)

-Go to the Link Intime India website and select ‘Anand Rathi Wealth’ option from the drop-down list under ‘Company’.

-Select either one of the three modes: Application number, Client ID or PAN ID

-In application type, select between ASBA and non-ASBA and enter the details of the mode selected

– Fill Captcha and enter ‘Submit’ option.

-You will be able to see your allotment status, given that the process has been completed.

The company raised around Rs 194 crore from the key investors during its three-day initial public offering. The IPO received bids for 8.29 crore shares as against the offered shares of 84 lakh. The portion for qualified institutional buyers (QIB) was subscribed 2.5 times. Non-institutional investors (NII) saw 25.42 times subscription during the IPO. The quota meant for retail investors was subscribed 7.76 times, and employees put in bids 1.32 times the portion set aside for them.

Anand Rathi Wealth is mainly into wealth management, via its private wealth (PW vertical, with total assets under management of Rs 29,472 crore as on August 31. The AUM comprises mutual fund schemes and other financial products such as bonds, MLDs and other securities held by clients in their own demat accounts.

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