Ahmedabad based Prudent Corporate Advisory Services Limited is all ready for its IPO debut. The company’s IPO will be opened on 10th May 2022 and will close on 12th May 2022. The company was started in the year 2003. Prudent deals into the retail wealth management space and distributes Mutual Funds, Insurance (both Life & General Insurance), Demat/ Broking services, Gold distribution and many other wealth products/ services. The company has strong present across 20 states in India through its 110+ offices. The company enjoys dominancy as one of India’s reputed financial wealth management/distribution firms and has good clientele base. There are over 1,000 plus employees in Prudent. The company reported Rs. 4,529/- Crore profit after tax during FY20-21. The IPO proceeds will be for exiting of the exiting investors. The details of Product IPO is as below :
IPO size – Rs. 538.61/- Crore
Issue opens – 10th May 2022
Issue closes – 12th May 2022
Issue price – Rs. 595/- to Rs. 630/- per equity share
Lot size – Minimum 25 shares & in multiple of 25 thereafter
Listing exchanges – Both at BSE & NSE
Retail investor category – 35% reserved for retail investors
Non-Institutional category – 15% reserved for non-institutional investors
Qualified Institutional Buyers (QIB) category – 50% reserved for institutional investors
Disclaimer: Investment in equity markets involves high degree of risk, please read the IPO document carefully before investing.
