Investor appetite for shares of Prudent Corporate Advisory Services Ltd. picked up on the final day of its initial public offering.
The independent wealth management and a leading mutual fund distributor's IPO saw the retail and employee portion oversubscribe at the end of day three.
The offer was subscribed 57% on its second day.
The company was selling shares at Rs 595-630 apiece, and was seeking to raise Rs 538 crore, all of which would go to the selling shareholders.
It would have a post-issue market of Rs 2,609 crore.
ADVERTISEMENT
Subscription Details: Day 3
The IPO subscribed 1.22 times as of 5 p.m. on May 12.
Institutional investors: 1.26 times.
Non-institutional investors: 0.99 times.
Retail investors: 1.29 times.
Employees: 1.23 times.
(Source: BSE)
ADVERTISEMENT
Top Research Reports On Prudent Corporate IPO
Watch BloombergQuint's IPO Adda With Prudent's Management:
WRITTEN BY
RECOMMENDED FOR YOU
POPULAR
1
From AI To India: Highlights Of Warren Buffett's Berkshire Shareholder Address
2
Buffett Says US Corporate Taxes Likely To Rise To Tame Deficit
3
A Post-Buffett Berkshire Is Omaha Focus After Munger’s Passing
4
Buffett Praised Apple After Trimming It, Drops Paramount Stake
5