{"id":39792,"date":"2022-05-03T21:28:14","date_gmt":"2022-05-03T15:58:14","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-ipo-prudent\/"},"modified":"2022-05-03T21:29:05","modified_gmt":"2022-05-03T15:59:05","slug":"biz-ipo-prudent-corrected","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-ipo-prudent-corrected\/","title":{"rendered":"Prudent Corporate Advisory Services IPO to open on May 10"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-740230769\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>       New Delhi, May 3 (PTI) The initial public offer of Prudent Corporate Advisory Services Ltd, a retail wealth management firm, will open on May 10.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1833260030\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p> The IPO, which is entirely an Offer for Sale (OFS) of 85,49,340 equity shares, will close on May 12. The bidding date for anchor investors will be May 9, according to the Red Herring Prospectus (RHP).<\/p>\n<p> As part of the OFS, selling shareholders &#8212; Wagner Ltd, an entity of TA Associates, will offload 82,81,340 equity shares and Shirish Patel, Whole Time Director and Chief Executive Officer of Prudent, will sell up to 2,68,000 equity shares.<\/p>\n<p> At present, Wagner owns 39.91 per cent shareholding in Prudent while Patel has 3.15 per cent stake.<\/p><div class=\"trade-content_5\" id=\"trade-583179962\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> The company is backed by US-based private equity investor TA Associates.<\/p>\n<p> Prudent is one of the leading independent retail wealth management services groups (excluding banks) in India and among the top mutual fund distributors in terms of average assets under management and commissions received.<\/p>\n<p> Apart from mutual funds, it also distributes financial products like insurance, portfolio management schemes, alternative investment funds, bonds, unlisted equities, stock broking solutions, loans against securities, NPS, among others.<\/p>\n<p> ICICI Securities, Axis Capital and Equirus Capital are the book running lead managers to the issue. PTI HG RAM  RAM<\/p>\n<div class=\"trade-after-content\" id=\"trade-2422475517\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>New Delhi, May 3 (PTI) The initial public offer of Prudent Corporate Advisory Services Ltd, a retail wealth management firm, will open on May 10. The IPO, which is entirely an Offer for Sale (OFS) of 85,49,340 equity shares, will close on May 12. The bidding date for anchor investors will be May 9, according [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1516,31],"tags":[],"class_list":["post-39792","post","type-post","status-publish","format-standard","hentry","category-ipo","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Prudent Corporate Advisory Services IPO to open on May 10 - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-ipo-prudent-corrected\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Prudent Corporate Advisory Services IPO to open on May 10\" \/>\n<meta property=\"og:description\" content=\"New Delhi, May 3 (PTI) The initial public offer of Prudent Corporate Advisory Services Ltd, a retail wealth management firm, will open on May 10. 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