Prudent Corporate Advisory Services IPO
Prudent Corporate Advisory Services Limited (PRUDENT) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 20 May 2022.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain -3.1% (likely range -9% to +10%), day's high +1.1%, chance of a gain 33%. Actual: +3.2% at the open, +3.2% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 16,87,101 | 21,21,566 | 1.26x | |
| NII (HNI) total | 12,65,326 | 12,58,169 | 0.99x | |
| Retail | 29,52,427 | 38,11,744 | 1.29x | |
| Employees | 1,13,835 | 1,39,449 | 1.23x | |
| Total | 60,18,689 | 73,30,928 | 1.22x |
Bids on NSE and BSE together, as published by NSE, as of 12 May 2022, 05:00 PM. Shares offered exclude the anchor portion. 47% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Prudent Corporate Advisory Services's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Aster DM HealthcareFeb 2018 | 2.10x | 0.55x | 1.18x | 1.31x | ₹1,010 Cr | -3.7% | -1.1% |
| Star Health and Allied Insurance CompanyDec 2021 | 1.03x | 0.19x | 1.10x | 0.79x | — | -6.1% | +4.4% |
| S J S EnterprisesNov 2021 | 1.42x | 2.32x | 1.38x | 1.59x | ₹817 Cr | 0.0% | +1.7% |
| HealthCare Global EnterprisesMar 2016 | 2.36x | 0.43x | 0.83x | 1.56x | ₹650 Cr | -3.6% | -2.8% |
| Precision CamshaftsJan 2016 | 2.62x | 0.73x | 2.01x | 1.91x | ₹424 Cr | -11.3% | -0.5% |
| Rail Vikas NigamApr 2019 | 1.36x | 0.80x | 2.93x | 1.83x | ₹842 Cr | 0.0% | +4.2% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Equirus Capital | 34 | +21.3% | 74% |
| ICICI Securities | 109 | +21.3% | 69% |
| Axis Capital | 107 | +20.4% | 73% |
Offer documents (NSE)
Frequently asked
What is the Prudent Corporate Advisory Services IPO price band and lot size? ₹595–630 per share, with a lot of 23 shares, so the smallest retail bid is ₹14,490.
How many times has it been subscribed? 1.22x overall: QIB 1.26x, NII 0.99x, retail 1.29x, employees 1.23x.
How did it list? It opened at ₹650, +3.2% against the issue price of ₹630, and closed its first day -10.8%.
