Wealth First Portfolio Managers is coming out with an initial public offering (IPO) of 16,80,000 equity shares of face value of Rs 10 each for cash at a fixed price of Rs 50 per equity share. The issue will open on March 10, 2016 and will close on March 18, 2016.
The issue proceed is being used for Augmenting long term working capital for bond market operations; technology up-gradation; expansion of its domestic operations for mutual fund distribution business; issue related expenditure and general corporate purpose.
The shares will be listed on NSE Emerge Platform. The share is priced at 5 times higher to its face value of Rs 10. The book running lead manager to the issue is Sarthi Capital Advisors, while compliance officer for the issue is Aayush Kamleshbhai Shah.
The company is a one stop financial services provider for various types of financial products available in Indian market. Its product portfolio provides right mix of financial assets that suits financial goal in short and long term depending on client’s perception and need. It offers in depth research for products that delivers compatible performance in terms of yield as well as it make sure that investments stays secure over the period, though market risk is always there which are beyond its control.
