J. Sagar Associates (JSA) advised Equirus Capital Private Limited, BNP Paribas, IIFL Securities Limited and Anand Rathi Advisors Limited in relation to the proposed initial public offering of Anand Rathi Wealth Limited (“ARWL” or the “Issuer”).
ARWL has filed a draft red herring prospectus with the Securities and Exchange Board of India on July 19, 2021 for an offer for sale of equity shares by its promoters and other selling shareholders aggregating up to 12,000,000 equity shares of the Issuer. ARWL is one of the leading non-bank wealth solutions firms in India and have been ranked amongst the top three non-bank mutual fund distributors in India by gross commission earned in Fiscal 2020. The Issuer commenced its activities in Fiscal 2002 as an AMFI registered mutual fund distributor and have evolved into providing, well researched solutions to its clients by facilitating investments in financial instruments through an objective driven process.
ARWL serves a wide spectrum of clients through a mix of wealth solutions, financial product distribution and technology solutions. It also provides services primarily through its flagship Private Wealth (“PW”) vertical. In addition to PW vertical, it also operates in two other new age technology led business verticals, i.e., Digital Wealth and Omni Financial Advisors.
This is one of first pure play wealth solutions provider to approach markets.
JSA team comprised of Lead Partner – Arka Mookerjee, Partner – Pracheta Bhattacharya, Senior Associate – Anshu Bansal, Associate – Sourav Modi and Junior Associates – Reshmi Prabhakar & Divya Shah.
Arka’s practice area covers primarily equity capital markets issuances which covers a wide range of products such as Initial Public Offerings, Rights Issues, Qualified Institutions Placements, Initial Public Offering of Infrastructure Trusts and foreign currency convertible bonds.