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The stock will be in focus on Monday, January 13, as the company’s board will meet to discuss its quarterly results for the October-December period, as well as consider a bonus issue of shares.
This will be the first instance of Anand Rathi Wealth issuing bonus shares to its shareholders.
Since its listing in 2021, Anand Rathi Wealth has paid ₹44 per share as dividend to shareholders.
In June last year, the company had announced a buyback of equity shares, where it repurchased close to 0.9% of its outstanding equity at ₹4,450 per share. Although the stock is currently trading below that level, it has made a high of ₹4,646.
Shares of Anand Rathi Wealth have been wealth creators for its shareholders. The stock had listed in December 2021 at a 9% premium to its issue price of ₹550 per share. Since then, the stock is up 7x from its IPO price within three years of listing.
As of Friday’s close, Anand Rathi Wealth has a market capitalisation of close to ₹18,000 crore. Promoters of the company hold 47.99% stake in the company at the end of the September quarter, while the December shareholding is yet to be uploaded to the exchanges.
India’s mutual funds have a 7.9% stake in the company, where SBI SmallCap Fund has a 1.83% stake, while Quant SmallCap Fund has a 2.67% stake as of September. Foreign Portfolio Investors too have a 5.3% stake in Anand Rathi Wealth.
The company has a total of 51,359 retail shareholders, or those with authorised share capital of up to ₹2 lakh, who own close to 17% stake of the company.
Shares of Anand Rathi Wealth ended 4.4% higher at ₹4,116 on Friday.
