On December 2nd, 2021, the Anand Rathi Initial Public Offering (IPO) will open for subscriptions and will remain open for bidding until December 4th, 2021. India’s largest non-banking wealth solutions company is planning a public offering to garner 660 crore at a price range of 530 to 550 per equity share. Prior to the IPO’s subscription opening date, the grey market has begun to send out positive indications about the Anand Rathi IPO. Anand Rathi Wealth shares are currently available in the grey market at a premium of 125, according to industry experts.
GMP Anand Rathi IPO
The Anand Rathi IPO grey market premium (GMP) today is 125, up 25 from the evening GMP yesterday, according to market experts. They claimed that as of yesterday morning, Anand Rathi Wealth shares were available on the grey market for an 85 percent premium. Despite the pessimistic mood on Dalal Street, this GMP rose to a high of 100 yesterday evening. They went on to note that the increase in GMP, despite the Indian stock market’s weak tilt, speaks well for the IPO. They hope it will have a positive impact on the public issue when it opens tomorrow.
What is GMP stand for?
GMP is a grey market estimate of the expected listing gain from the public offering, according to market observers. The grey market forecasts the Anand Rathi Wealth IPO to list at a price of 675 (550 + 125), which is more than 20% higher than the price band of 530 to 550 per equity share. Market experts believe that if there is a trend reversal in the primary market, this premium would grow much more.
“Due to rising retail participation in capital market-related businesses, India’s Banking and Financial Services (BFSI) sector provides excellent development opportunities,” Ravi Singh, Head of Research & Vice President at ShareIndia, said of the Anand Rathi IPO. Current market sentiment, on the other hand, is negative, with the BFSI sector bearing the brunt of the impact. Anand Rathi Wealth’s listing band is at the top, signifying a premium valuation.”
The IPO for Anand Rathi is likely to take place on December 9, 2021, with shares of the wealth management firm possibly being listed on the NSE and BSE on December 14, 2021.