On Wednesday, the Prudent Corporate Advisory Services IPO's share allotment, which was available for subscription last week, is most likely to occur. After the bidding on May 12, the Rs 538.61 crore initial public offering received 1.22 times as much interest from investors. The company's unlisted shares are trading at a premium of Rs 20, indicating that they will likely list above the issue price of Rs 630 per share.
Prudent Corporate Advisory Services IPO: Allotment
On Wednesday, the share allocation announcement is anticipated to take place (May 18). Its shares are being suggested for both NSE and BSE listings. May 23 is most likely the day that shares are listed. Both the registrant Link Intime India's website and the official BSE website allow users to check the share allocation. On May 23, the shares are anticipated to be launched on the stock exchanges.
When it is announced, choose the firm name "Prudent Corporate Advisory Services — IPO" from the drop-down list on the Link Intime India website to check the share allotment status. Select either PAN, application number, or depository/client ID after that.
Enter the permanent account number, application number, depository ID, or client ID into the box as a result. Click the submit button after entering the supplied captcha in the space provided. This will show how many shares have been allocated to the investor and applied for.
Prudent Corporate Advisory Services IPO: GMP
The shares of Prudent Corporate Advisory Services are currently trading at a premium of Rs 20 over the upper price band of Rs 630 per share, according to IPO Watch. It indicates that shares are being traded at Rs. 650 a share on the black market. According to market mood, the premium fluctuates. The fixed price range for each share was Rs. 595–630.
Prudent Corporate Advisory Services IPO: Basic Details
The business anticipated that the public offering will bring in Rs. 538.61 crores. The offer consisted solely of an offer to sell 85,49,340 equity shares (OFS). CEO Shirish Patel was required to sell 2.68 lakh shares, and selling shareholder Wagner was required to sell 8.28 million shares or 50% of its interest.
Retail investors were only allowed to participate in 35% of the initial public offering (IPO), while qualified institutional buyers (QIBs) could buy 50% of the entire issue size. The final 15% of the IPO size was open for participation by non-institutional investors.
Prudent Corporate Advisory Services IPO: What Brokers Said
Among the top mutual fund distributors in India in terms of average assets under management and commission earned is Prudent Corporate Advisory Services Limited, an independent retail wealth management services business. In an IPO letter, Anand Rathi stated that the company provides a technology-enabled, comprehensive investment and financial services platform with end-to-end solutions essential for the distribution and presence of financial products across both online and offline channels.