Anand Rathi Wealth Services IPO – Complete IPO Details & DRHP

Anand Rathi Wealth Services Limited being one of the leading non-bank wealth management services firms in India (Source – CARE Advisory Research) that caters to a large spectrum of clients through a mix of advisory, distribution and technology solutions. Anand Rathi Wealth Services IPO comprises Up to [●] Equity Shares aggregating up to Rs. 4,250 million.

Let’s have a detailed review of the company and analytics of the Anand Rathi Wealth Services IPO release date, IPO offer price, subscription, Anand Rathi Wealth Services IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.


Anand Rathi Wealth Services IPO Review & Ratings

IPO Ratings & Review
Criteria Ratings
Industry Sentiments 8.5/10
Industry Ranking 7.8/10
Company Background 7.9/10
Company Reputation 7.9/10
Competitive Edge 7.7/10
Financial Statements 7.8/10
Popularity Index 8.4/10
Promoters Reputation 7.7/10
Retail Appetite 7.9/10
Top Brokers Review 7.9/10
Overall Ratings 8.1/10
Star Ratings ★★★★☆

Summary of Anand Rathi Wealth Services Limited IPO

Anand Rathi Wealth Services IPOAnand Rathi Wealth Services Limited one of the leading non-bank wealth management services firms in India (Source – CARE Advisory Research) that caters to a large spectrum of clients through a mix of advisory, distribution and technology solutions. They are one of the few wealth management companies in India that caters to clients across mass affluent, HNI as well as the Ultra HNIs through various solutions ranging from personal service to technology and robo-advisory.The Issue comprises of a Public Issue Up to [●] Equity Shares aggregating up to Rs. 4,250 million.

From FY 2016-17 to FY 2017-2018, as per the Restated Financial Statements.

Their standalone revenue from operation and total comprehensive income for the period, representing the PWM business were Rs. 2,104.94 million and Rs. 502.09 million respectively for Fiscal 2018, and the consolidated revenue from operation and total comprehensive income for the period were Rs. 2,210.32 million and Rs. 461.41 million respectively for Fiscal 2018.

  • During the financial year 2017-18 the Other Income of the company increased to Rs. 87.93 Millions as against Rs. 23.13 Millions for the financial year 2016-17, representing increase by 280.1% due to increase in interest income & insurance claim in FY 2017- 18.
  • Company’s Net Profit after tax for the year 2017-18 is Rs. 503.36 Millions from the year 2015-16 of Rs. 8.99 Millions showing an increase from last year, showing remarkable performance.
  • As at March 31, 2018, the Company’s Net Worth, was Rs. 783.66 million, as per the Restated Consolidated Financial Information, and Rs. 897.96 million, as per the Restated Standalone Financial Information

The Promoters of this company are Mr. Anand Rathi, Mr. Pradeep Gupta And Anand Rathi Financial Services Limited. The lead manager to the issue is Equirus Capital Private Limited and Jefferies India Private Limited and the Registrar to this issue is Link Intime India Private Limited .


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Anand Rathi Wealth Services IPO Date

The opening and the closing date of Anand Rathi Wealth Services Limited IPO is not known yet.


Anand Rathi Wealth Services IPO Subscription

Day / Date QIB NII RII Total Subscription
Day 1 
Day 2
Day 3
Day 4
Day 5
Shares Offered or Net Issue

 


Anand Rathi Wealth Services IPO Allotment Status

Here, you can find the Allotment Status of this IPO.


Anand Rathi Wealth Services IPO Price Band

The face value of each share is Rs 10, but the price band of the IPO is not yet disclosed. 


Anand Rathi Wealth Services IPO Equity Share Offering

Up to [●] Equity Shares aggregating up to Rs. 4,250 million.


Anand Rathi Wealth Services Limited – Company Overview

Anand Rathi Wealth Services Limited one of the leading non-bank wealth management services firms in India (Source – CARE Advisory Research) that caters to a large spectrum of clients through a mix of advisory, distribution and technology solutions. They are one of the few wealth management companies in India that caters to clients across mass affluent, HNI as well as the Ultra HNIs through various solutions ranging from personal service to technology and robo-advisory.

They carry out their business through their three business verticals, as Private Wealth Management (“PWM”), Digital Wealth Management (“DWM”) and Omni Financial Advisors (“OFA”). Under PWM vertical, they provide wealth management solutions to their clients which include facilitating client investments in various financial instruments including but not limited to, mutual funds, debentures, structured products and equity derivatives for the purpose of investment strategies. Their DWM vertical allows them to build an economically feasible wealth management model for services to the mass affluent market. Further, their OFA platform is India’s leading tech platforms for IFAs (as of June, 2018 and in terms of subscribing IFAs) (Source – CARE Advisory Research) to service their clients and grow their business.

The Company is promoted by  Mr. Anand Rathi, Mr. Pradeep Gupta And Anand Rathi Financial Services  Limited and is the guiding force behind the growth and strategic decisions of the Company.

Competitive Strengths of Anand Rathi Wealth Services Limited:

  • One of the leading non-bank, wealth management services firms in India;
  • Created and managing OFA – India’s leading tech platforms for IFAs;.
  • Their expertise lies in providing un-complicated and holistic solutions for the clients using highly standardised processes;
  • Leveraging technology to target market opportunities in wealth management across client segments
  • Strong Financial and Business Metrics.

Business strategies of Anand Rathi Wealth Services Limited:

  • Growing team with a focus on business expansion
  • Using technology to create greater scalability
  • Brand building and marketing
  • Leverage DWM and OFA to build profitable scale in adjacent client segments

Anand Rathi Wealth Services Limited – Financial Statements

A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:

Financial Summary:

Amount (in INR & Millions)
31-Mar-18 31-Mar-17 31-Mar-16
Total Assets 1,717.80 525.46 69.25
Total Revenue 2,192.87 392.60 7.21
Total Expense 1,479.67 387.54 5.28
Profit After Tax 503.36 8.99 1.57

Earnings per Equity Share (in Millions)

31-Mar-18 31-Mar-17 31-Mar-16
Basic & Diluted 18.83 0.46 0.12

From the above statements, one could find that the Anand Rathi Wealth Services Limited may perform well.


Anand Rathi Wealth Services IPO – Promoters

The Promoter of this company are:

  1.  Mr. Anand Rathi,
  2. Mr. Pradeep Gupta,
  3. Anand Rathi Financial Services Limited.

List of Related Parties (Key Managerial Personnel)

  • Amit Rathi, Managing Director
  • Rakesh Rawal, Director & CEO
  • Sriram Rajagopal Iyer, Director & CEO of Subsidiary
  • Bhishnupada Sahu , Director & CEO of Subsidiary
  • Amol Jayawant Bhabal, CFO (Upto 10-07-2018)
  • Dilip Balakrishnan, Company Secretary

Interest in promotion of the Company

Company is currently promoted by the Promoters in order to carry on its present business. Promoters are interested in the Company to the extent of their shareholding and directorship of the Individual Promoter in the Company and the dividend declared, if any, by the Company. The Promoters are interested in the transactions entered into the Company and the Promoter Group.

Property Interest

The promoters along with the promoter group will continue to hold collectively some percentage of the equity share capital of the company. As a result of the same, they will be able to exercise significant influence over the control of the outcome of the matter that requires approval of the majority shareholders vote.

Interest in Intellectual Rights of the Company

Promoters has not shown any interest in acquiring the intellectual rights of the company.


Anand Rathi Wealth Services IPO Offer Details or Issue Details

Offer Up to [●] Equity Shares aggregating up to Rs. 4,250
million
Of which
Fresh Issue Up to [●] Equity Shares aggregating up to Rs. 1,250
million
Offer to Sale Up to [●] Equity Shares aggregating up to Rs. 3,000
million
Employee Reservation Portion Up to [●] Equity Shares aggregating up to Rs. 1,250
million
Accordingly,
The Net Offer Not less than [●] Equity Shares
Of which:
QIB Category Not less than [●] Equity Shares
Of which:
 Anchor Investor Portion Up to [●] Equity Shares
Balance available for allocation to QIBs other than Anchor Investors (assuming Anchor Investor Portion is fully subscribed) [●] Equity Shares
Of which:
– Available for allocation to Mutual Funds only (5% of the QIB Category (excluding the Anchor Investor Portion)) Up to [●] Equity Shares
– Balance of QIB Category for all QIBs including Mutual Funds [●] Equity Shares
Non-Institutional Category Not less than [●] Equity Shares
Retail Category Not less than [●] Equity Shares
Equity Shares outstanding prior to the offer 26,908,600 Equity Shares
Equity Shares outstanding after the Offer Up to [●] Equity Shares

Anand Rathi Wealth Services IPO Issue Object

These are the IPO Issue Objects of the company

  • Funding the Working Capital requirements of the Company:
  •  Repayment/ pre-payment of certain unsecured loans availed from banks and financial institutions
    by the company; and
  •  General Corporate Purposes

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Anand Rathi Wealth Services IPO – Basis of the Offer Price

The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.

Qualitative factors are:

  • One of the leading non-bank, wealth management services firms in India;
  • Created and managing OFA – India’s leading tech platforms for IFAs;.
  • Their expertise lies in providing un-complicated and holistic solutions for their clients using highly standardised processes;
  • Leveraging technology to target market opportunities in wealth management across client segments
  • Strong Financial and Business Metrics

The relevant quantitative factors are:

On the basis of standalone statement:-

Basic EPS Diluted EPS RONW (%) NAV (Rs.)
31-Mar-16 0.12 0.12 2.44 165.27
31-Mar-17 0.46 0.46 6.42 5.36
31-Mar-18 18.83 18.47 56.06 33.40
  • Industry P/E Ratio:

As on date, there are no comparable listed companies in India engaged in the same line of business as their Company, hence comparison with industry peers are not applicable

  • Competitive Peers:

As on date, there are no listed entities whose business portfolio is comparable with that of their business and
comparable to their scale of operations.


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Anand Rathi Wealth Services IPO Lead Managers

Lead Managers
Equirus Capital Private Limited

Jefferies India Private Limited

Anand Rathi Wealth Services IPO Registrar to offer

Registrar to the Offer
Link Intime India Private Limited
C-101, 1st Floor, 247 Park
Lal Bahadur Shastri Marg, Vikhroli (West)
Mumbai 400 083
Maharashtra, India
Telephone: +91 (22) 4918 6200
Facsimile: +91 (22) 4918 6195
Email:
Investor Grievance Email:
Website: www.linkintime.co.in
Contact Person: Ms. Shanti Gopalkrishnan
SEBI Registration Number INR000004058

Other Details:

  • Statutory Auditor – M/s. Khimji Kunverji & Co., Chartered Accountants
  • Peer Review Auditor – M/s. Khimji Kunverji & Co., Chartered Accountants
  • Bankers to the Company –HDFC Bank Limited, IDFC Bank Limited, Bank of India

Anand Rathi Wealth Services IPO Review by Top 10 Stock Brokers

Top Stock Brokers Review Company Reputation Competitive Edge Financial Statement Popularity Index Promoters Reputation
Angel Broking 7.5/10 7.4/10 8.5/10 8.1/10 7.1/10
Sharekhan 7.2/10 7.1/10 8.6/10 8.1/10 7.2/10
Kotak Securities 7.3/10 7.5/10 8.4/10 8.1/10 7.3/10
ICICI Direct 7.3/10 7.3/10 8.7/10 8.1/10 7.1/10
IIFL 7.5/10 7.2/10 8.8/10 8.0/10 7.1/10
Edelweiss 7.5/10 7.4/10 8.4/10 8.3/10 7.2/10
Zerodha 7.4/10 7.1/10 8.5/10 8.1/10 7.0/10
5Paisa 7.1/10 7.1/10 8.4/10 8.1/10 7.1/10
Karvy 7.4/10 7.3/10 8.2/10 8.1/10 7.1/10
Motilal Oswal 7.1/10 7.1/10 8.6/10 8.3/10 7.2/10

Anand Rathi Wealth Services IPO Grey Market Premium

The Anand Rathi Wealth Services IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X. 


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Anand Rathi Wealth Services IPO News

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