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New Delhi: The initial public offer of Prudent Corporate Advisory Services was subscribed 1.22 times on the last day of offer on Thursday. The Rs 538.61-crore IPO got bids for 73,30,928 shares against 60,18,689 shares on offer, as per NSE data.

Retail Individual Investors (RIIs) portion got subscribed 1.29 times, while Qualified Institutional Buyers (QIBs) received 1.26 times subscription and non-institutional investors 99 per cent.

The company’s Initial Public Offer (IPO) of up to 85,49,340 equity shares had a price range of Rs 595-630 per share.

On Monday, Prudent Corporate Advisory Services raised a little over Rs 159 crore from anchor investors.

Prudent Corporate Advisory Services is one of the leading independent retail wealth management services groups (excluding banks) in India and is among the top mutual fund distributors in terms of average assets under management and commission received.

Equirus Capital, ICICI Securities and Axis Capital were the managers to the offer. PTI SUM SHW

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