Anand Rathi Wealth Limited

Anand Rathi Wealth reported strong growth in asset under management (AUM) of 16 per cent YoY at Rs 35,842 crore.

Rakesh Rawal, Chief Executive Officer of Anand Rathi Wealth, said the company has reported strong growth for the quarter despite the challenging market scenario.

The management expects an increased inflow of funds and consistent growth in AUM in the coming quarters.

Revenue rose by 49 per cent to Rs 115 crore in the quarter under review compared to Rs 77 crore in the year-ago period

Pharma shares may be in focus as India's apex health research organization ICMR has raised concerns around the safety for use of the oral antiviral drug Molnupiravir

Anand Rathi Wealth reported an over two-fold jump in profit after tax (PAT) at Rs 32.04 crore for three months ended December 2021.

At the closing price, the company was valued at Rs 2,428 crore

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Post listing, the stock has moved higher by up to Rs 614.95, up 12 per cent against the issue price of Rs 550 per share on the BSE

Anand Rathi Wealth to make its debut on the bourses on Tuesday, GMP indicates 50 per cent listing gain for the stock

Institutional portion saw only 2.5 times subscription. Overall, the IPO saw bids worth Rs 4,500 crore

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The Rs 660-crore initial share-sale received bids for 2,55,81,204 shares against 84,75,000 shares on offer

The broader indices, however, outperformed the key benchmark indices. The BSE Midcap index ended flat, while Smallcap index was up 0.3 per cent

Anand Rathi Wealth IPO subscribed 1.5 times on opening day

The Midcap and Smallcap indices also surged over a per cent each, and advancing shares outnumbered declining stocks in 2:1 ratio the BSE on Thursday