Prudent Corporate Advisory Services has set a three-day IPO pricing range of Rs. 595 to Rs. 630 per share. On Tuesday, May 10, 2022, the retail wealth management company’s initial share sale will begin and end on Thursday, May 12, 2022.
An offer for sale (OFS) of 82,81,340 equity shares by Wagner Ltd and up to 2,68,000 equity shares by Shirish Patel make up the initial share-sale of 85,49,340 equity shares. The IPO will raise about Rs. 538.6 crore at the top end of the price range.
Prudent Corporate Advisory Services IPO Details
|IPO Opening Date||May 10, 2022|
|IPO Closing Date||May 12, 2022|
|Price Band||Rs. 595 to Rs. 630 per share|
|Lot Size||23 Shares|
|Issue Size (Rs. Cr.)||8,549,340 shares of Rs. 5 (aggregating up to Rs.538.61 Cr)|
|Face Value||Rs. 5 per equity share|
|Issue Type||Book Built Issue IPO|
|Employee Discount||Rs. 59 per share|
|Exchange Board||BSE, NSE|
|Offer for Sale||8,549,340 shares of Rs. 5 (aggregating up to Rs. To be announced Cr)|
|QIB Shares Offered||Not more than 50% of the Net Offer|
|Retail Shares Offered||Not less than 35% of the Net Offer|
|NII (HNI) Shares Offered||Not less than 15% of the Net Offer|
|Basis of Allotment Date||May 18, 2022|
|Initiation of Refunds||May 19, 2022|
|Credit of Shares to Demat Account||May 20, 2022|
|Delhivery IPO Listing Date||May 23, 2022|
Prudent Corporate Advisory Services IPO Date
On May 10, 2022, the company will launch its first public offering. This IPO will be open for subscriptions until May 12th 2022. On May 9, 2022, bids for anchor investors will be accepted.
Prudent Corporate Advisory Services IPO Price
Prudent Corporate Advisory Services has announced a price range of Rs 595-630 per equity share with a face value of Rs 5 for its IPO (Initial Public Offering).
Prudent Corporate Advisory Services IPO Issue Size and Lot Size
The offer will raise Rs 538.60 crore for the company and lot size 23 Shares. The IPO lot size for Prudent Corporate Advisory Services is 23 shares. An individual retail investor can apply for up to 13 lots (299 shares or 188,370 dollars). Wagner Limited, an investor with a 40% stake in the pre-offer capital, will discharge 82,81,340 equity shares from the OFS. Wagner Limited is a group firm, according to RHP of Prudent Corporate Advisory. Shirish Patel, the other selling stakeholder, reduced his holdings by selling 2,68,000 equity shares.
Prudent Corporate Advisory Services IPO Allotment Date and Listing Date
The Basis of Allotment of Prudent Corporate Advisory Services IPO date is May 18, 2022. Prudent Corporate Advisory Services IPO Listing Date is May 23, 2022.
About Prudent Corporate Advisory Services Limited IPO
Prudent Corporate Advisory Services Limited, founded in 2003, specialises in retail wealth management. Mutual Funds, Life and General Insurance, Stock Broking, SIP with Insurance, Gold Accumulation Plan, Asset Allocation, and Trading Platforms are all available through the organisation.
FundzBazar, PrudentConnect, Policyworld, WiseBasket, and CreditBasket are among the company’s digital wealth management (DWM) systems.
Prudent Corporate Advisory Services provides investment and financial services platforms for the online and offline distribution of financial goods. As of FY21, Prudent Corporate Advisory Services is one of the top ten mutual fund distributors in terms of average assets under management (AUM).
Prudent Corporate Advisory Services offers wealth management services to 13,51,274 unique retail investors through 23,262 channel partners on the B2B2C network, which is located over 110 branches in 20 Indian states, as of December 31, 2021. The company also works with 42 AMCs as a distributor.
Prudent Corporate Advisory Services Limited is one of India’s largest and fastest-growing independent financial services companies. The organisation has grown to serve 16,356 PIN numbers across the country. As of December 31, 2021, Prudent Corporate Advisory Services had 1,067 workers, 35.05 lakhs live folios, and 15.25 lakhs live SIPs.
Promoters of Delhivery IPO
Promoters of Prudent Corporate Advisory Services IPO is Sanjay Shah.
You may also read about: What is CDSL TPIN?