Prudent advisory lists at 4.8% premium

Mumbai: Shares of Prudent Corporate Advisory Services listed ₹660 on the BSE, a 4.8% premium over its issue price of ₹630. The stock gave up early gains, ending at ₹562.7, a 10.7% discount to its IPO price. The company's ₹538.61-crore IPO, which was open for subscription between May 10 and May 12, was subscribed 1.2 times.

The portion set aside for qualified institutional buyers was subscribed 1.3 times and HNI category was subscribed at 99%. The retail portion was subscribed 1.2 times. IPO got mixed recommendations from brokerages due to rich valuations, competitive industry and market volatility which offset factors such as pan India network and solid balance sheet. - Our Bureau