Economy

The Anand Rathi IPO (initial public offering) begins tomorrow

The Anand Rathi Initial Public Offering (IPO) will begin accepting subscriptions on December 2nd, 2021, and will stay up for bidding until December 4th, 2021. India’s largest non-banking wealth solutions company wants to raise 660 crore through a public offering, with a price band of 530 to 550 per equity share. The grey market has started to offer favourable signals about the Anand Rathi IPO ahead of the subscription opening date. According to market experts, Anand Rathi Wealth shares are currently available in the grey market at a premium of 125.

The Anand Rathi IPO

GMP Anand Rathi IPO

According to market experts, the Anand Rathi IPO grey market premium (GMP) today is 125, up 25 from the evening GMP yesterday. They said that Anand Rathi Wealth shares became accessible in the grey market for an 85 percent premium as of yesterday morning. Despite the gloomy attitude on Dalal Street, this GMP increased and reached a high of 100 yesterday evening. They went on to say that the increase in GMP, despite the weak bias in the Indian stock market, bodes well for the public offering. They believe that when it opens tomorrow, it will have a good impact on the public issue.

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What is GMP stand for?

According to market observers, GMP is a grey market estimate of the projected listing benefit from the public offering. Because the Anand Rathi Wealth IPO GMP is currently 125, the grey market expects this public offering to list at a price of 675 (550 + 125), which is more than 20% more than the price band of 530 to 550 per equity share. If there is a trend reversal in the primary market, market experts predict this premium to rise much more.

Ravi Singh, Head of Research & Vice President at ShareIndia, commented on the Anand Rathi IPO: “Due to increased retail participation in capital market-related industries, India’s Banking and Financial Services (BFSI) sector offers great development prospects. However, current market sentiments are negative, with the BFSI sector taking the brunt of the blow. The listing band for Anand Rathi Wealth is at the upper band, indicating a premium valuation.”

Anand Rathi’s initial public offering (IPO) is expected to take place on December 9, 2021, with shares of the wealth management firm possibly being listed on the NSE and BSE on December 14, 2021.

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