Anand Rathi prices IPO at Rs 530-550 a share; size Rs 660 cr at upper end

The IPO is entirely an offer for sale of 12 million shares; promoter entities Anand Rathi Financial Services, Anand Rathi and Amit Rathi are selling

Anand Rathi Wealth has priced its initial public offering (IPO) between Rs 530 and Rs 550 per share. The IPO will open on December 2 and conclude on December 6.

The IPO is entirely an offer for sale of 12 million shares. At the upper end of the price band, the issue size works out to Rs 660 crore. Among the selling shareholders are promoter entities Anand Rathi Financial Services, Anand Rathi and Amit Rathi. At the top-end, the company is valued at about Rs 1,530 crore.

The company is a private wealth solutions provider. It is also the country’s leading mutual