Shares of Anand Rathi Wealth Ltd, part of Mumbai-based financial services group Anand Rathi, on Tuesday listed with over 9 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 BSE. It further jumped 11.80 per cent to Rs 614.95.
On NSE, it listed at Rs 600, a premium of 9.09 per cent.
The company commanded a market valuation of Rs 2,439.34 crore in morning trade.
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
In the meantime, investors must be thnking what they need to do further, buy, sell or hold. Here is the experts view on the same, according to a report published by Moneycontrol.
Satish Kumar, Research Analyst, Choice Broking
We have a neutral view on the company and had assigned a ‘subscribe with caution’ rating. The private wealth industry has high competition, and change in regulations like mutual fund commission fess and technological developments are major risks.
A major portion of the revenue comes from mutual fund sales and direct-linked debentures, while core private wealth segments like PMS and alternative investments are missing in Anand Rathi’s business profile. The issue listed with modest gains of 9 percent. We recommend investors to book profit.
Santosh Meena, Head of Research, Swastika Investmart
Anand Rathi saw moderate listing gains on expected lines. Long-term investors should hold the stock on the back of a strong industry outlook, while those who applied for listing gains can keep a stop loss at Rs 550. New investors can look for buying opportunities at any dip with a long-term view.
Abhay Doshi, Founder at UnlistedArena.com.
The issue looked fully priced against its performance till FY21. However, the company posted exceptional growth in 5MFY22, said Doshi according to Mint report.
Gaurav Garg, Head of Research, CapitalVia
Investors can hold the stock for short-to-long term as new-age technology-led business verticals might turn out to be a dark horse. In any healthy correction of 8-10 percent from the band might turn out to be an opportunity for long-term investment.