Prudent Corporate Advisory Services Ltd., an independent wealth management and a leading mutual fund distributor, saw the retail investor portion fully subscribe on the second day of its initial public offering.
The offer was subscribed 36% on its first day.
The company is selling shares at Rs 595-630 apiece, and is seeking to raise Rs 538 crore, all of which will go to the selling shareholders.
It will have a post-issue market value of Rs 2,609 crore.
Subscription Details: Day 2
The IPO subscribed 0.57 times or 57% as of 5 p.m. on May 11.
Institutional investors: 0 times.
Non-institutional investors: 0.19 times.
Retail investors: 1.05 times.
Employees: 0.67 times.
(Source: BSE)
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