IPO Open : December 15, 2021 IPO Close : December 17, 2021 Basis of Allotment : December 22, 2021 Initiation of Refunds: December 23, 2021 Credit of Shares : December 24, 2021 IPO Listing Date : December 27, 2021
190. K.Atar| Link| Bookmark|
December 6, 2021 6:02:10 PM
IPO Guru (1000+ Posts, 700+ Likes)
It''s no wonder that IPO sailed with flying colors (but at last moment). They let others jump and then twisted their clients to subscribe it. It wasn''t hard for them but they waited, to see if its required or not. Then few phone call did the trick and all quotas filled. It was all managed. Such a show that we have seen in Star and ARW.
ARWL is a play on wealth management business where Ultra HNI segment is witnessing significant growth. With the fundamentals and growth potential, valuation of the company looks reasonable, as at upper end of price band, the company is valued at approx 7.5% AUM and approx18.7x EPS (annualised FY22E). The closest listed peer IIFL Wealth has over 2.2 lakh crore in AUM and trading at 25xFY22E (consensus) offers healthy growth potential too.
Most of the HNI seems to be Neo-HNI (Cross over HNI) in this IPO. Regular HNIs seems to be have stayed away.
On the lighter note.....it seems retailers have become smarter.....they apply using UPI in multiple accounts on the first day itself....bumping the subscription in this category. Deep pocket retailers (Neo- HNI) sensing low probability of allotment in retail....cross over and apply in the HNI category. Once the IPO is closed....retailers withdraw their app but Neo-HNIs are stuck badly..............Dont know who wins in this game......Retailers.....or Neo-HNIs or Mature HNIs.....?
Whether investors in any category wins or not but one thing is clear.......Anand Rathi has already won..........IPO is subscribed fully in all categories.......
Now it is all operator''s game.......in one weeks time from now.....
Gmp is below 10% and can b nill after today dull response and dafenately this is not such a business that will outperform n multibagger in future . Hence i avoid.
I was only considering to apply 4 in Retail, but so far nothing attracts me in this IPO to even go in Retail. Let''s not be compulsive applicants. I probably will skip this.
The promoters had a colourful past and they have been repeated offenders....better avoid such ipos where the management has a history of bad ethics......same was the case with chemplast and nuvoco.
Last chance for anyone desirous of having a feel of confirmed allotment in HNI category. For all others.... Why are you still reading comments here? Go away to better opportunities. LOL
Domestic Mutual fund houses it seems saved the day for AR. A bit of armtwisting probably worked. Else would have struggled to get to the crossing line in QIB