Anand Rathi Wealth Limited

About the company

Anand Rathi Wealth provides wealth solutions and is one of the top three mutual fund distributors in India in the non-bank category. **Business highlights** * Its private wealth (PW) arm caters to over 6,500 families in the high-networth (HNI) segment, which is supposedly under-served and less price sensitive.  * It’s assets under management (AUM) have grown at over 20% in the last three years and currently stand at over ₹29,000 crore.  * Under its other two verticals - Digital Wealth (DW) and Omni Financial Advisors (OFA) - digitally serves large mass affluent investors and independent financial advisors, respectively.  * It has presence in 11 major Indian cities and serves its clients through more than 230 relationship managers. **Financial Information** It’s financial performance in fiscal ‘21 dipped due to the pandemic-related disruption. However, the profit bounced back in fiscal ‘22. In the first five months of FY22, the net profit stood at ₹51 crore supported by lower expenses.   **Strengths** * A well-known brand in the wealth management and financial services space * Presence across the customer value chain - Ultra-HNI, HNI and mass affluent * Has a sticky customer-base with about 55% of its clients being associated with it for over three years  * Deploys in-house research and analytical tools for allocating assets and selecting securities based on client’s profile **Risks** * The fall in mutual fund total expense ratio and the increasing popularity of direct plans could impact its mutual fund distribution business  * The volatility or fall in the markets could impact demand for its services * The wealth management industry is highly competitive * Wealth management and mutual fund industries are tightly regulated. This means the company faces the risks of non-compliance **Opportunities** * India’s AUM-to-GDP ratio in 2020 stood at 16% vs the global average of 63%  * India’s low mutual fund penetration leaves room for growth  * India’s pool of millionaires is expected to grow at a rate of 13% till fiscal 2025  * Rising preference for financial assets versus physical assets augurs well for financial services providers

Financial performance (₹ Cr)

IPO Roadmap / Timeline

1. IPO Opens

   Completed
   02 Dec 2021

   Bidding starts for all investor categories

2. IPO Closes

   Completed
   06 Dec 2021

   Last day to place your bid

3. Basis of Allotment

   Completed
   04 Dec 2021

   Share allotment finalised

4. Refund Initiation

   Completed
   10 Dec 2021

   Refunds credited for non-allottees

5. Credit to Demat

   Completed
   09 Dec 2021

   Allotted shares credited to demat account

6. Listing on Exchange

   Completed
   14 Dec 2021

   Shares list on NSE / BSE

Post-close dates are indicative as per SEBI T+3 listing framework and may change per registrar updates.