Prudent Advisory Services IPO: Retail abundance the board firm Prudent Corporate Advisory Services Limited has fixed the cost band for its IPO. The organization has fixed a value band of Rs 595-630 for each offer for this IPO of Rs 539 crore. The issue will open for membership on May 10 and will close on May 12. Simultaneously,it will open on May 9 for anchor financial backers. This IPO will be absolutely Offer available to be purchased (OFS) for example new offers won't be given under it,however just the current advertiser investors of the organization will sell their value. Under this issue,8549340 value offers will be sold by the investors.
Investors- Wagner Limited,a substance of TA Associates,will sell 8281340 value shares as a feature of the OFS. Also,Prudent's Whole-time Director and Chief Executive Officer Shirish Patel will sell 268000 value shares. This IPO is simply OFS,thus the organization won't get any returns from this issue. As of now,Wagner holds 39.91 percent stake in Prudent,while Patel holds 3.15 percent. A big part of the issue size is held for Qualified Institutional Buyers (QIBs),15% for non-institutional financial backers and 35 percent for retail financial backers. Aside from this,value shares up to Rs 6.5 crore have been saved for workers. Financial backers can offer in at least 23 offers and products thereof.
The organization is upheld by TA Associates,a US-based private value financial backer. Reasonable is one of the Leading Independent Retail Wealth Management Services Group (Except Banks) in India. It is considered as a real part of the top common asset wholesalers. Aside from shared reserves,the organization additionally circulates other monetary items like Insurance,Portfolio Management Schemes,Alternative Investment Funds,Bonds,Unlisted Equity,Stock Broking Solutions,Loan Against Security,NPS. It has presence in both on the web and disconnected channels. ICICI Securities,Axis Capital and Equirus Capital are the book running lead directors of the issue.
The Company's Asset Under Management (AUM) from Mutual Fund Distribution Business as on 31st December 2021 was Rs 48411.5 crore with 92.14 percent of its all out AUM being value situated. The organization gives Wealth Management Services to 1351274 Unique Retail Investors through 23262 Mutual Fund Distributors on its Business-to-Business-to-Consumer (B2B2C) stage and is spread north of 110 areas across 20 states.
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