Prudent Corporate Advisory Services’ IPO opens today – GMP already at ₹30 per share

• Retail wealth management firm Prudent Corporate will open its IPO on May 10 and will close on May 12.
• The price band of the IPO is ₹595 - ₹630 per share.
• Shares of the company are already demanding a premium of ₹30 per share in the grey market, which is less than 5% on the issue price.

The retail wealth management firm Prudent Corporate Advisory Services will open its initial public offering (IPO) on May 10 and will close on May 12.

The IPO is a complete offer for sale of 85.49 lakh shares by promoters and shareholders of the company.

Prudent Corporate offers mutual fund products, insurance products, stock broking services, fixed income products, gold accumulation plan and so on.

It provides wealth management services to 7.72 lakh unique retail investors through 17,583 mutual fund distributors (MFDs) as on May 31, 2021.

Shares of the company have been commanding a premium (GMP) of ₹30 in the grey market – under 5% of the issue price.

Here are some of the important dates related to the IPO:
The wealth management company has been consistently growing its profit over the last three financial years.

(Source: Red Herring Prospectus)

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