Prudential Corporate IPO: public issue eligible 538.61 crores were opened for membership on 10th May 2022 and it will be open for bidding till 13th May 2022. On the first day of bidding, the Prudent Corporate IPO subscription status shows that the Initial Public Offering (IPO) has been subscribed 0.36 times while its retail portion is subscribed 0.72 times. Meanwhile, Prudent corporate shares have become available in the gray market. According to market observers, Prudent is being bid at a premium to the corporate share price 35 in the gray market today.
Prudent Corporate IPO GMP Today
Market observers said Prudential Corporate IPO Gray Market Premium (GMP) today is 35, which is 5 more than yesterday’s gray market premium 30. He said that the Prudent Corporate IPO has remained almost stagnant in the gray market in the last two days despite the weak stock market sentiment, which is commendable. He added that if there is a trend reversal in the secondary market in the next two days of bidding, we can expect a sharp jump in the price of Prudent Corporate Shares in the gray market.
What does this GMP mean?
Market observers said Prudent Corporate IPO GMP Today is 35, which means the gray market is expecting the Prudent Corporate IPO listing to be 665 ( 630+ 35), which is about 5 percent higher than the K Prudent Corporate IPO price band from 595 630 per equity share.
Market observers said prudent corporate IPO GMP 35 shows that the gray market is expecting the IPO to come in a moderate level.
However, stock market experts advised investors to look at the financial position of the company rather than the GMP. He said that the gray market is a disorganized and informal data, which has no relation with the balance sheet of the company. Hence, one should not rely too much on gray market signals.
Prudent Corporate IPO: Buy or Not?
Speaking on the Prudent Corporate IPO, Abhay Doshi, Founder, UnlistArena.com, said, “Prudent Corporate Advisory Services Limited is an independent retail wealth management services group in India and one of the top mutual fund distributors in terms of AAUM and commission. Various platforms for Online Investment, Mutual Fund, Insurance, Equity and Portfolio and Debt products. Revenue from operations is growing significantly. The company also has strong reserves of Rs 194 crore. The offer price is a bit high, Slightly higher in comparison to its peers. The issue is priced at 34x PE based on FY 2012 annual earnings. Furthermore, the company operates in a highly competitive space. Hence, given its stable fundamentals, It will be interesting to see the reaction of investors amidst volatile market conditions.”
Giving ‘Buy’ tag to Prudent Corporate IPO, Shruti Khandare, CMO, MyFundBazaar India said, “Prudent Corporate IPO provides pan India retail wealth management services with strong revenue growth in last 3-9 months, margin of 9.3% In addition, the IPO has diversified its portfolio into MF distributors, trading, insurance services and stock broking services. High-risk investors take medium to long-term outlook in this IPO. Can invest. The investor may or may not get the listing. Given the bearish market at the moment, the profit may be made.”
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.