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BusinessPrudent Corporate IPO, plans to raise Rs 539 crore, ₹ 595-630 price...

Prudent Corporate IPO, plans to raise Rs 539 crore, ₹ 595-630 price band fixed

Prudent Corporate Advisory Services IPO: Retail wealth management firm Prudent Corporate Advisory Services is coming up with its IPO on May 10. For this, the company has fixed a price band of Rs 595-630 per share.

Retail wealth management firm Prudent Corporate Advisory Services is coming up with its Rs 539 crore IPO. The company has set a price band of Rs 595-630 per share for its IPO on Thursday.

The company said that the three-day IPO will open for public subscription on May 10 and bidding for anchor investors will open on May 9.

How many shares will be sold

Prudent Corporate Advisory Services said that the IPO of 85,49,340 equity shares includes an offer for sale of 82,81,340 equity shares by Wagner Limited and 2,68,000 equity shares by Shirish Patel.

At present, investor Wagner holds 39.91 percent, and the company’s whole-time director and CEO Shirish Patel holds 3.15 percent.

At the upper end of the price band, the firm will raise around Rs 538.61 crore through IPO.

What does the company do

Prudent Corporate Advisory Services is one of the Leading Independent Retail Wealth Management Service Group (Except Banks) in India and among the top Mutual Fund distributors in terms of average assets under management and commission received is one of.

It provides a technology enabled, comprehensive investment and financial services platform with critical end-to-end solutions for the distribution of financial products and has a presence in both online and offline channels.

How much can you invest

Half of the issue size of this IPO (Prudent Corporate Advisory Services IPO) has been reserved for Qualified Institutional Buyers (QIBs), 15 percent for non-institutional investors and 35 percent for retail investors.

Apart from this, equity shares up to Rs 6.5 crore have been reserved for employees. Investors can bid for a minimum of 23 shares and multiples thereof.

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