Anand Rathi Wealth

IPO Size

`660 Cr

Price Band

`530-550 Per Share

Minimum Lot Size

27 Share

Face Value

`5 Per Share

Employee Discount


Retail Allocation


Issue Open Date

2 Dec, 2021

Issue Close Date

6 Dec, 2021

Listing Date

14 Dec, 2021

About the Company:

Anand Rathi Wealth Limited is one of the leading non-bank wealth solutions firms in India and has been ranked amongst the top three non-bank mutual fund distributors in India by gross commission earned in Fiscal 2020. The firm serves a wide spectrum of clients through a mix of wealth solutions, financial product

distribution, and technology solutions. It primarily provides services through the  flagship Private Wealth

(“PW”) vertical where we manage Rs260.58 billion in AuM as of March 31, 2021. The AuM is a sum of (i) all

third-party assets that generate commissions or incomes, which could be upfront and/or on a trial basis, and (ii) custody assets of our Clients (we do not include clients that merely have a custody account i.e. a Demat account with us, but have no wealth assets such as mutual funds).


The firm commenced activities in Fiscal 2002 as an AMFI registered mutual fund distributor and has evolved into providing, well-researched solutions to our Clients by facilitating investments in financial instruments through an objective-driven process. The process-driven approach aims to achieve consistent Client outcomes through a standardized investment strategy, augmenting our RM capability. As part of a holistic approach to clients, the firm also facilitates estate planning, succession planning and creates wills as part of our core objectives, without charging any cost to our Clients.

The firm has a digitized operational process, including the opening of an account, client approvals and investment transactions, and an onboarding process. This has led to cost efficiencies and made execution less cumbersome, more transparent, and contributed to the growth of the Company.

Outstanding Litigation:

S.No. 1 - Company 2 - Directors 3 - Promoters
Entity Name By the Company Against the Company By the Director Against the Director By the Promoter Against the Promoter
Criminal cases - - - 8 - -
Material civil cases 1 - - - - -
Taxation matters - - - - - -

Regulatory Proceedings

2 - - 1 - -


Financial Statements:

Income Statement FY21 FY20 FY19
Gross Operating Income 2,792.48 3,364.14 2,841.87
Cost of Employee & Inventory 1 ,507.56 1 ,665.73 1 ,321.73
Other Expenses 1,954.59 2,251.09 1,787.09
EBITDA 837.89 1113.05 1054.78
Depreciation & Amortisation 172.92 210.48 162.69
Interest  28.98 32.96 61.1
Profit Before Tax 635.99 869.6 830.99
 Tax 184.89 253.47 246.66
Profit After Tax 451.1 616.14 584.33

Promoter of the Company

Mr. Anand Rathi

Peer Comparison

IIFL Wealth Management Limited

Objectives of the Issue

Offer for Sale

The issue is an entirely offer for sale of 12 million shares, of which 92.85 lakh shares will be sold by Anand Rathi Financial Services, up to 3.75 lakh equity shares each will be sold by Anand Rathi, Pradeep Gupta, Amit Rathi, Priti Gupta, Supriya Rathi, Feroze Azeez, and Rawal Family Trust, acting through Rakesh Rawal. Another investor Jugal Mantri will sell 90,000 equity

Fresh Issue

No fresh issue

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