2.IPO Prudent Corporate Advisory Services IPO subscribed 1.22 times on final day led by re

According to data from BSE, the initial public offering (IPO) of retail wealth management company Prudent Corporate Advisory Services was subscribed 1.22 times on the final day.

The data reported the offer of Rs 538.61 crore received bids for over 73.30 lakh (73,30,928) shares against the issue size of over 60.18 lakh (60,18,689) shares. According to the data, the shares allocated to qualified institutional buyers (QIBs) subscribed 1.26 times followed by those allocated to non-institutional investors (NIIs) have subscribed 0.99 times and those allocated to retail individual investors (RIIs) have subscribed 1.29 times.

Aside from these, the employee segment received 1.23 subscriptions. The Prudent IPO is a proposal for the sale of up to 82,81,340 equity shares by Wagner Ltd and up to 2,68,000 equity shares by Shirish Patel. The IPO was open for 3 days from Tuesday, May 10, 2022. It has a price of Rs 595-630 per share. Before steering into the IPO, the company had raised over Rs 159 crore (Rs 1,59,43,10,130) from 24 anchor investors.

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