Anand Rathi Wealth IPO: Information analysis

This leading non-banking wealth-solutions firm commenced its operations in 2002 as a mutual fund distributor. During FY19-FY21, it was the third-largest non-banking mutual fund distributor in India in terms of gross commission earned. The company primarily provides services through its flagship private wealth segment. As on August 31, 2021, the segment managed an AUM of Rs 294.7 billion. Under this segment, the company earns revenues in the forms of commissions on mutual funds distribution and the sale of other financial products, including bonds, market-linked debentures (MLDs) and other securities. At present, the company's 233 relationship managers (RMs) cater to 6,564 active clients, with a minimum ticket size of Rs 50 lakh. On average, an RM holds 29 client families and this number is expected to go up to 50 per RM in the future. The company has its presence in 11 cities across India, including Mumbai, Bengaluru, Delh