Prudent Corporate IPO GMP today: Check price band, lot size
Prudent Corporate IPO GMP today: The initial public offering (IPO) market just saw the gigantic LIC IPO close. Now, another firm is lining up its IPO. Prudent Corporate Advisory Services' IPO went live today, May 10. The three-day IPO will conclude on Thursday, May 12. The mutual funds advisory firm has set a price band of Rs. 595-630 per share for the ₹538.6 crore IPO. On Monday, the company stated that it had raised around Rs. 159 crores from anchor investors before the opening of the IPO. Check out the Prudent Corporate IPO GMP today below.
Prudent Corporate IPO has been subscribed 0.20x as of 10:50 AM on day 1, according to the BSE data. Further, the retail investor category has been booked 0.40 times, employees have been booked 0.02 times and NII's have been booked 0.01 times. Prudent Corporate is a retail wealth management platform that offers financial products around mutual funds, insurances, stock broking, gold accumulation and more.
Prudent Corporate hits IPO, check details
The Prudent Corporate IPO has been placed in the price band of Rs. 595-630. It opened on Tuesday, May 10 and will conclude on Thursday, May 12. The likely allotment date for the IPO is May 18. Finally, the IPO listing date is considered to be May 23. The company had an offer for sale (OFS) of 85,49,340 equity shares. The shares were made up of 82,81,340 equity shares by Wagner Ltd and up to 2,68,000 shares by Shirish Patel.
Prudent Corporate IPO GMP today
The company's shares are available at a grey market premium (GMP) of Rs. 30, according to LiveMint. The IPO shares have been found to be trading at ₹660 per share in the gray market, according to IPO watch.
Should you subscribe to the Prudent Corporate IPO
“We recommend Subscribe on the following parameters that the financial penetration is expected to rise with the increase in financial literacy and is expected to continue growing at a healthy pace owing to strong demand- and supply-side drivers. Since the company is entering with a higher valuation it might be subject to corrections in near future," Jainam Broking told LiveMint.