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Anand Rathi Wealth raises Rs.194-Cr from 12 anchor investors

Economic Times  

Anand Rathi Wealth Ltd, part of Mumbai-based financial services group Anand Rathi, has raised INR 194 crore from anchor investors, ahead of its initial share-sale. The company has decided to allocate 35.25 lakh equity shares to 12 anchor investors at INR 550 apiece, valuing the transaction size at INR 194 crore. SBI Mutual Fund (MF), ICICI Prudential MF, Franklin Templeton MF, DSP MF, Kotak MF, Invesco MF, Canara Robeco MF, Nippon India MF, Abakkus, Quant MF, MK Cohesion, Rajasthan Global are among the investors that participated in the anchor book. Out of the total allocation of 35.25 lakh equity shares, 31.58 lakh were allocated to mutual funds through schemes amounting to INR 173.69 crore, which is 89.59 % of the total anchor book size. The initial share-sale is entirely an offer for sale (OFS) of 1.2 crore equity shares by promoters and existing shareholders.