Anand Rathi Wealth IPO GMP, Review, Price, Date, Detail 2021
Anand Rathi Wealth Limited is one of country’s top non-bank wealth services companies, with gross commission generated in Fiscal 2020 placing them among the best three non-bank mutual fund distributors in the nation. Anand Rathi Wealth IPO will hit the market in September 2021.
About
Anand Rathi Wealth Limited provide wealth management, financial product distribution, and technological services to a diverse group of clientele.
They mainly offer services via their Private Wealth vertical, which manages Rs. 260.58 billion in AuM as of March 31, 2021.
The AuM is made up of all 3rd-party assets that produce commissions or incomes, either upfront or on a trail basis, and custody holdings of their customers.
They do not include customers who only have a custody account with them, including a demat account, but no wealth assets including mf.
Even though they may be in their Group’s control, the value of promoter stakes in businesses in their AuM is not included in the AuM.
Clientele
Customers or active customer families are defined as those with a cumulative AuM of at least Rs. 5 million. Every ‘client family’ or ‘Client’ may participate via one or more sub-accounts or family member accounts. They truly think they have established a leading position in the allocation of financial products.
With an emphasis on the increasing HNI segment, by providing a simple, comprehensive, and streamlined offering provided by an entrepreneurial squad of private wealth experts classified as Relationship Managers (“RMs”).
PW vertical serves 6,109 active customer families with a staff of 233 RMs as of March 31, 2021. (including 8 RMs working on contractual basis).
Growth and Footprints
They think that the HNI category of clients (those with a net worth of about $50 million and $500 million) is an appealing and neglected section in terms of service quality, and that building a system to support this group is time-consuming and challenging.
As of March 31, 2021, 52.33 percent of their Clients had been with us for more than three years, accounting for 72.19 percent of their total PW AuM, demonstrating their dominance in both client vintage and AuM in their company.
They now have offices in 11 Indian cities, including Mumbai, Bengaluru, Delhi, Gurugram, Hyderabad, Kolkata, Chennai, Pune, Chandigarh, Jodhpur, and Noida, as well as a representative office in Dubai.
Anand Rathi Wealth IPO
Anand Rathi Wealth, headquartered in mumbai has submitted Draft Red Herring Prospectus(DRHP) to Securities and Exchange Board of India(SEBI) for initial public offering (IPO) of up to 12,000,000 equity shares on 19 July, 2021.
There will be no fresh issue & OFS (Offer for sale) of 12,000,000 equity shares from existing Promoters mentioned in the DRHP of the company.
They are now waiting for approval from Securities and Exchange Board of India(SEBI) to float the initial public offering (IPO) in the market.
Originally published at https://profitmust.com on July 22, 2021.
