Prudent Corporate Advisory Services shares list at nearly 4.8% premium, slip minutes later

Wise Advisory Services Company Share Price: Shares of a retail wealth management company Wise corporate advisory services It first appeared on a fixed note and was listed at a premium of approximately 4.8 percent of the issue price on exchanges today. However, they failed to hold on to the gains and fell below the issue price within minutes of listing.

The stock was listed at Rs 660.00 apiece on the Bahrain Stock Exchange, thus posting a gain of 4.76 per cent on its offer price of Rs 630.00, while it opened on the National Stock Exchange (NSE) at Rs 650.00, 3.18 per cent higher than its quoted price. Issue price.

However, the stock failed to hold on to its opening gains and retreated within minutes of the opening. So far, it touched lows of Rs 583.80 in BSE and Rs 581.50 in NSE during the first 45 minutes of trading.

At 10:45 am, Scrib was trading at 582.55 rupees on the Bahrain Stock Exchange, down 7.53 percent from its issue price while on the New York Stock Exchange it was 582.40 rupees, down 7.56 percent. The data from BSE showed that the market capitalization was Rs.2433.47 crore.

Data from the relevant exchange showed that about 1.16 thousand shares of Prudent Corporate Advisory Services have so far been traded on the Bahrain Stock Exchange, while more than 16.76 thousand shares have been traded on the NSE.

Prudent Corporate Advisory Services is one of the leading independent retail wealth management service groups (excluding banks) in India and is among the largest mutual fund distributors in terms of average assets under management and commission received. The company offers a comprehensive technology-enabled financial and investment services platform with comprehensive solutions necessary for the distribution and presence of financial products across online and offline channels.

The IPO was met with positive demand during the period of its offering from May 10 to 12, 2022, and it received Subscribed 1.22 times On the last day.

Responding to the listing, Santosh Meena, Head of Research at Swastika Investmart said: “The company’s lukewarm listing can be attributed to the rich pricing of the issue and the competitive and regulated nature of the industry. The company operates in the unhacked Indian asset management industry and has a proven track record of profitable growth due to a scalable business model. Highly graded, asset-light and cash-generating. We suggest that long-term investors gradually accumulate this stock on dips. Those who applied for the winnings list can keep their stop loss at Rs 600.”

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