The maiden public issue, which will fetch the retail wealth management services provider Rs 538.6 crore, comprises only an offer-for-sale of 85.49 lakh equity shares by Wagner, an affiliate of TA Associates, and Shirish Patel.
Wagner, which will be selling 82.81 lakh equity shares through this offer, held 40 percent equity stake (1.65 crore shares) in the company.
Prudent Corporate Advisory Services IPO | Half the issue size is for qualified institutional investors, 15 percent for non-institutional buyers and the rest 35 percent for retail investors. The price band for the offer, which closes on May 12, is Rs 595-630 per share.
Prudent is the third largest MF distributor after NJ India and ICICI Securities among the non-banks with an average AUM of Rs 48,411 crore as of end December ’21
Choice Equity Broking has come out with its report on Prudent Corporate Advisory Servicesa. The research firm has recommended to ''Subscribe'' the ipo in its research report as on May 09, 2022.
Anand Rathi has come out with its report on Prudent Corporate Advisory Servicesa. The research firm has recommended to ''Subscribe'' the ipo in its research report as on May 09, 2022.
The initial public offering of 85,49,340 equity shares comprises an offer for sale of 82,81,340 shares by Wagner, an affiliate of US-based private equity investor TA Associates.
Life Insurance Corporation of India will be closing its maiden public issue on May 9, followed by its share allotment by May 12. This is the biggest issue in the history of Indian capital markets raising Rs 21,000 crore.
The IPO will open for subscription on 10 May and close on 12 May. Bidding for anchor investors will open on 9 May.
Promoter Sanjay Shah holds 43.36 percent stake in Prudent Corporate, and investor Wagner Ltd, an affiliate of US-based private equity investor TA Associates, has 40 percent shareholding.
The IPOs of RateGain Travel Technologies and Fusion Micro Finance received approval from the Sebi on November 16, after filing draft red herring prospectus on August 18 and August 11, 2021, respectively.
Investor Wagner Limited, an affiliate of US-based private equity investor TA Associates, has a 39.91 percent shareholding, and Shirish Patel, Whole-time Director and Chief Executive Officer of the company, has a 3.15 percent stake