Anand Rathi Wealth shares list at 9% premium

New Delhi: Shares of Anand Rathi Wealth Ltd, part of Mumbai-based financial services group Anand Rathi, on Tuesday settled with over six per cent gains against its issue price of Rs 550.

The stock made its debut at Rs 602.05, a gain of 9.46 per cent from the issue price on the BSE. During the day, it jumped 11.80 per cent to Rs 614.95. It settled at Rs 583.50, a premium of 6.09 per cent. On NSE, it listed at Rs 600, a premium of 9.09 per cent. It jumped 6.36 per cent to settle at Rs 585. In traded volume terms, 8.87 lakh shares of the company were traded at the BSE and over 1.39 crore units at the NSE during the day.

The company commanded a market valuation of Rs 2,428.31 crore. The initial public offer of Anand Rathi Wealth Limited received 9.78 times subscription earlier this month. The initial public offer of up to 12,000,000 equity shares had a price range of Rs 530-550 per share. Anand Rathi Wealth operates in the financial services industry with a focus on mutual fund distribution and the sale of financial products.