Prudent IPO Details, GMP, Subscription Status and Allotment

Prudent IPO Timeline

EventDate
Prudent IPO Opening DateMay 10, 2022
Prudent IPO Closing DateMay 12, 2022
Basis of AllotmentMay 18, 2022
Initiation of RefundsMay 19, 2022
Credit of Shares to DematMay 20, 2022
Prudent IPO Listing DateMay 23, 2022

Prudent IPO Details

Prudent IPO Price₹595 to ₹630 per share
Face Value₹5 per share
IPO Size₹538.61 Cr
Listing AtBSE, NSE
Offer for Sale8,549,340 Equity Shares
Employee Discount Rs 59 per share
IPO Lot Size15
Minimum Amount₹14,490 for 1 lot
Maximum Amount₹188,370 for 13 lot
Basis of Allotment12 May 2022
Refunds13 May 2022
Credit to Demat Account16 May 2022
IPO Listing Date17 May 2022

Prudent IPO GMP (Grey Market Premium)

DateGMPKostakSubject to
09 May₹30₹250₹500
07 May₹30₹250₹500
06 May₹35₹250₹500
05 May₹3500

Company Financials:

For the year/period ended (₹ in million)

Particulars31-Dec-2131-Mar-2131-Mar-2031-Mar-19
Total Assets3,873.402,849.301,960.751,932.15
Total Revenue3,279.982,948.962,362.202,250.58
Profit After Tax576.28452.97278.53210.19

About Prudent Corporate Advisory Services Limited

In the 2000s, the dot-com bubble crashed stock markets, and the Ketan Parekh scam hurt investors. In such a volatile time, Prudent Corporate Advisory Services Limited, a retail wealth management company, was born thanks to accountant Sanjay Shah’s passion for the stock markets. 

Having overcome the initial period of stock market volatility, this Ahmedabad-based company has grown steadily over the past 21 years. As of December 2021, its assets under management (AUM) from mutual fund distribution was Rs 48,411 crore. It serves over 13,500 clients across India. Founded in 2000, Prudent is currently one of the fastest growing financial services groups in India.

They started trading mutual funds at the turn of the millennium. They sensed the potential and low penetration of mutual funds and laid the foundation for Prudential. They have since expanded to provide financial services and products such as mutual funds, insurance, stocks, bonds, PMS-AIF, fixed income, real estate and loan products. 

They provide comprehensive and personalized financial services to individuals, corporations, HNIs and UHNIs who fulfill their investment aspirations and risk appetite through our team of over 980 highly qualified professionals and over 17,400 well-trained and qualified trading partners. Over time, their dominance in the market has brought them not only credibility and trust, but also many accolades. They are present all over India through our 105 branches in 20 states with our strong digital presence. 

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