Anand Rathi Wealth's IPO Subscribed 9.78 Times On Last Day of Issue

Anand Rathi Wealth Limited's preliminary public provide (IPO) was subscribed 9.78 occasions on Monday, December 6, which was the final day of its problem.Institutional traders subscribed it 2.5 occasions, non-institutional traders subscribed 25.42 occasions, retail traders subscribed it 7.76 occasions, whereas workers subscribed it 1.32 occasions.The Rs 660 crore IPO, which had opened on December 2, was absolutely subscribed on the primary day, and demand reached 3.02 occasions on the second day.The wealth supervisor, which distributes mutual funds and structured merchandise together with market-linked debentures to high-net-worth traders, had set a worth band of Rs of Rs 530-550 apiece.The agency is looking for a market worth of Rs 2,288.9 crore on the higher finish. The problem was a provide on the market and the cash raised will go to the promoters and promoting shareholders.