Anand Rathi Wealth Ltd on Tuesday filed a draft red herring prospectus (DRHP) with the Securities Exchange Board of India (Sebi) for an initial public offering (IPO). This will consist of an issue of 9.29 million shares by Anand Rathi Financial Services Ltd (ARFSL), up to 375,000 shares each by Anand Rathi, Pradeep Gupta, Amit Rathi, Priti Gupta, Supriya Rathi, Rawal Family Trust, Feroze Azeez and up to 90,000 shares by Jugal Mantri. As of March 2021, Anand Rathi held a 12.85% stake in the firm, while Pradeep Gupta owned 5.48%. Ltd, BNP Paribas, IIFL Securities and Anand Rathi are the book-running lead managers to the issue. The private wealth vertical caters to 6,109 active client familiesSubscribe to Mint Newsletters * Enter a valid email * Thank you for subscribing to our newsletter.

Source: Mint July 20, 2021 14:26 UTC