Anand Rathi Wealth’s IPO was subscribed 9.78 times on December 6, the last day of its issueAnand Rathi Wealth Limited’s initial public offer (IPO) was subscribed 9.78 times on Monday, December 6, which was the last day of its issue.Institutional investors subscribed it 2.5 times, non-institutional investors subscribed 25.42 times, retail investors subscribed it 7.76 times, while employees subscribed it 1.32 times.The Rs 660 crore IPO, which had opened on December 2, was fully subscribed on the first day, and demand reached 3.02 times on the second day.The wealth manager, which distributes mutual funds and structured products including market-linked debentures to high-net-worth investors, had set a price band of Rs of Rs 530-550 apiece.The firm is seeking a market value of Rs 2,288.9 crore at the upper end. The issue was a offer for sale and the money raised will go to the promoters and selling shareholders.
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