Anand Rathi Wealth Limited which had tapped the capital markets with its offer for sale of 1.2 cr shares in a price band of Rs 530-550, was subscribed 9.78 times. Earlier the company had completed allocation to anchor investors. The company allotted 35,25,000 equity shares to 12 anchor investors comprising of 19 entities. The issue had opened on Thursday the 2nd of December and closed on Monday the 6th of December 2021.
The discovered price at BSE was Rs 602.05 at which price 1,32,738 shares were traded while it was Rs 600 at NSE where 22,14,164 shares were traded.
The company allotted an equal 5,45,481 equity shares or 15.47% to three anchor investors. They are SBI Mutual Fund, ICICI Prudential, and Franklin Templeton. This was followed by an allotment of 4,63,644 shares or 13.15% of the anchor allotment to DSP. The top four anchor investors were allotted 21,00,087 equity shares or 59.56% of the anchor book.
The QIB portion was subscribed 2.5 times, HNI portion was subscribed 25.42 times and the Retail portion was subscribed 7.75 times. The employee portion was subscribed 1.32 times. There were 10.46 lac applications and on basis of lots, the retail portion was subscribed 6.87 times.
The high of the day on BSE was Rs 614.95, the low was Rs 566.10 and the close was Rs 583.50. The gain was Rs 33.50 or 6.09%. On NSE, the high of the day was Rs 615, the low was Rs 565.55 and the close was Rs 583.55 a gain of Rs 33.55 or 6.10%.
| Exchange | Open | High | Low | Close | Net Change | % Gain/ Loss | Wt.Avg | Volume | Delivery | Del %age |
| BSE | 602.05 | 614.95 | 566.10 | 583.50 | 33.50 | 6.09 | 592.71 | 886844 | 426760 | 48.12 |
| NSE | 600.00 | 615.00 | 565.55 | 583.55 | 33.55 | 6.10 | 591.21 | 13930950 | 5451106 | 39.13 |
| Total | 14817794 | 5877866 | 39.67 |
The traded volume on the two exchanges combined was 148.17 lac shares which was 1.23 times the IPO size of 120 lac shares and 1.75 times the non-anchor portion of 84.75 lac shares. Delivery volume was 58.77 lac shares which were 39.67 % of the traded volume. It was 48.98 % of the issue size and 69.36 % of the non-anchor portion. The weighted average of the day’s trade was Rs 592.71 on BSE and Rs 591.21 on NSE.
In terms of institutional or bulk trade, four were reported on NSE. The first was a sell trade where Integrated Core Strategies Asia PTE Limited sold 3,72,477 shares at Rs 600. The next three were bought trades reported on NSE. The first of these was from Echjay Industries Pvt Ltd, which bought 3,42,871 shares at Rs 598.26. The second was from Kaamna Credits and Promoters Pvt Ltd who bought 3,00,000 shares at Rs 600 per share. The third trade was from Aalidhra Textool Engineers Private Limited who bought 3,00,000 shares at Rs 575.10 per share. While three trades on the buy-side were for 9.43 lac shares there was one on the sell-side for 3.72 lac shares.
The overall traded quantity was decent but the share appeared to be under pressure as the day progressed. While, the share appears to have had a decent listing as it is managed to close with day gains on listing day, considering the parentage of the group, it would be below par.
In conclusion, a positive listing but below par for the promoters.
