GMP, Allotment Date, Listing; Key Details


Prudent Corporate Advisory Services Ltd’s (PCASL) preliminary public providing (IPO), which opened for subscription on May 10 and closed on May 12, was subscribed 1.22 occasions as of closing, seeing an honest response from traders. The IPO obtained bids for 73,30,928 shares towards 60,18,689 shares on provide. The firm’s unlisted shares within the grey market are buying and selling at a premium of Rs 20.

Prudent Corporate Services IPO GMP Today

The grey market premium (GMP) of Prudent Corporate IPO on Sunday stood at Rs 20. It means shares of Prudent Corporate had been buying and selling at Rs 650 on the grey market (Rs 630 + Rs 20). This signifies an honest itemizing for the Prudent Corporate Advisory Services IPO later this month.

Prudent Corporate Service IPO: Share Allotment, Listing Date

The firm’s share allotment is prone to happen on May 18. The share allotment may be checked on the official BSE web site and the web site of the registrar Link InTime India. The shares are anticipated to be listed on the inventory exchanges on May 23.

To test the share allotment standing, choose the corporate identify as ‘Prudent Corporate Advisory Services — IPO’ from the drop-down record on the Link Intime India web site when it will get declared. After that test field both PAN, software quantity or depository/shopper ID. Accordingly, enter the everlasting account quantity or software quantity or depository/ shopper ID within the field. Enter the given captcha within the supplied area and click on the submit button. This will show the variety of shares which have been utilized and allotted to the investor.

Prudent Corporate Service IPO: Other Basis Details

Prudent Corporate Service is a well-liked built-in wealth administration service. Through the IPO, the corporate expects to lift Rs 538.61 crore. The value band of the Prudent Corporate Advisory IPO was mounted at Rs 595-630 per fairness share. The provide was completely a suggestion on the market (OFS) of 85,49,340 fairness shares. Selling shareholder Wagner was to dump 8.28 million shares or 50 per cent of its stake, whereas CEO Shirish Patel was to promote 2.68 lakh shares.

In the Rs 538.61-crore IPO, a bidder may bid for at least one lot and most 13 tons. Rather a lot had Prudent Corporate’s 23 shares. The announcement of share allocation is prone to be made on May 18. Its shares are proposed to be listed on each NSE and BSE. The doubtless date for share itemizing is May 23. Link Intime India Private Ltd has been appointed because the official registrar for the provide.

“Prudent Corporate Advisory Services Limited is an impartial retail wealth administration companies group in India and is amongst the highest mutual fund distributors by way of common property underneath administration and fee obtained. The firm affords a technology-enabled, complete funding and monetary companies platform with end-to-end options important for monetary merchandise distribution and presence throughout each on-line and offline channels,” said Anand Rathi in an IPO note.

“The company grew faster among national distributors (amongst the top 10 mutual fund distributors) in terms of commission and AAUM (average assets under management) with a CAGR (compound annual growth rate) of 34.4 per cent and 32.5 per cent respectively for the five year period ending fiscal 2021,” the brokerage home added on Prudent Corporate IPO.

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