Shares of Anand Rathi Wealth, part of Mumbai-based financial services group Anand Rathi, on Tuesday settled with over 6 percent gains against its issue price of Rs 550.
The stock made its debut at Rs 602.05, a gain of 9.46 percent from the issue price on the BSE. During the day, it jumped 11.80 percent to Rs 614.95. It settled at Rs 583.50, a premium of 6.09 percent.
On NSE, it listed at Rs 600, a premium of 9.09 percent. It jumped 6.36 percent 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 received 9.78 times subscription earlier this month.
The initial public offer of up to 1,20,00,000 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.
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