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Prospect Commodities IPO is a fixed price issue of Rs 7.48 crores. The issue is entirely a fresh issue of 12.26 lakh shares.
Prospect Commodities IPO bidding started from March 8, 2023 and ended on March 13, 2023. The allotment for Prospect Commodities IPO was finalized on Thursday, March 16, 2023. The shares got listed on BSE SME on March 20, 2023.
Prospect Commodities IPO price is ₹61 per share. The minimum lot size for an application is 2000 Shares. The minimum amount of investment required by retail investors is ₹122,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to ₹244,000.
Interactive Financial Services Ltd is the book running lead manager of the Prospect Commodities IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Prospect Commodities IPO is Beeline Broking.
Refer to Prospect Commodities IPO RHP for detailed information.
| IPO Date | March 8, 2023 to March 13, 2023 |
| Listing Date | March 20, 2023 |
| Face Value | ₹10 per share |
| Price | ₹61 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 1,226,000 shares (aggregating up to ₹7.48 Cr) |
| Fresh Issue | 1,226,000 shares (aggregating up to ₹7.48 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 2,864,500 |
| Share holding post issue | 4,090,500 |
| Market Maker portion | 62,000 shares Beeline Broking |
Prospect Commodities IPO offers 1,226,000 shares. 582,000 (47.47%) to NII, 582,000 (47.47%) to RII.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | - |
| Market Maker Shares Offered | 62,000 (5.06%) |
| Other Shares Offered | 582,000 (47.47%) |
| Retail Shares Offered | 582,000 (47.47%) |
| Total Shares Offered | 1,226,000 (100%) |
Prospect Commodities IPO opens on March 8, 2023, and closes on March 13, 2023.
| IPO Open Date | Wednesday, March 8, 2023 |
| IPO Close Date | Monday, March 13, 2023 |
| Basis of Allotment | Thursday, March 16, 2023 |
| Initiation of Refunds | Friday, March 17, 2023 |
| Credit of Shares to Demat | Monday, March 20, 2023 |
| Listing Date | Monday, March 20, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on March 13, 2023 |
Investors can bid for a minimum of 2000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹122,000 |
| Retail (Max) | 1 | 2000 | ₹122,000 |
| HNI (Min) | 2 | 4,000 | ₹244,000 |
| Lot Size Calculator | |||
Vimal Mishra and Priyanka Mishra are the Promoters of the Company.
| Share Holding Pre Issue | 88.44% |
| Share Holding Post Issue | 61.94% |
Incorporated in 2022, Prospect Commodities Limited is majorly into the international trade of "Agro Products". The entity was recently incorporated as a company, earlier the operations were managed and controlled through the partnership firm under the name "M/s Fortune Exports".
The Promoter and Managing Director of the company, Mr. Vimal Mishra has experience of over a decade in different fields which harnesses the company's growth in the right direction.
Prospect Commodities Limited is in the business of trading cashew in the B2B Market. The entity sells the Cashews to wholesalers in the state of Gujarat. The cashews are packed in a tin of 10 KG. The Company buys RCN (Raw Cashew Nut) from Gujarat vendors itself, who are importing RCN from other countries and also from Kolam, Tuticorin, and Mangalore.
The products of Prospect include various grades of Cashews largely sold in Gujarat. These cashew grades are based on the size and color of the cashew nuts. The company has the following premium grades of Cashew to offer W400, W320, W240, W210, and W180.
Cashew Nuts themselves are premium dry fruit and require multiple processing stages to be sold as a finished product. Before reaching the doorstep of the end customer, the nuts undergo a series of processes. Prospect Commodities Limited undertakes the following processes:
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 31-Mar-22 | 1.05 | 0.00 | -0.15 | 0.85 | -0.15 | 0.05 |
| 30-Nov-22 | 977.07 | 839.98 | 52.85 | 293.70 | 52.70 | 363.57 |
| Amount in ₹ Lakhs | ||||||
The market capitalization of Prospect Commodities IPO is Rs 24.95 Cr.
| Pre IPO | Post IPO | |
|---|---|---|
| P/E (x) | 31.44 |
The Company proposes to utilize the Net Proceeds from the issue towards the following objects:
[Dilip Davda] As a partnership firm, the company has reported listless performance for the previous three fiscals. Its FY23 earnings appear to have been window dressed to ask for fancy valuations. The issue is aggressively priced in context with reported super earnings. There is no harm in skipping this “High-risk/Low return” bet. Read detail review...
The Prospect Commodities IPO is subscribed 5.31 times on March 13, 2023 7:02:00 PM. The public issue subscribed 3.76 times in the retail category, times in the QIB category, and 6.85 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| Other | 6.85 |
| Retail | 3.76 |
| Total | 5.31 |
Total Application : 1,191 (4.09 times)
| Listing Date | March 20, 2023 |
| BSE Script Code | 543814 |
| NSE Symbol | |
| ISIN | INE0OKG01017 |
| Final Issue Price | ₹61 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE SME |
|---|
| ₹61.00 |
| ₹61.00 |
| ₹61.00 |
| ₹64.05 |
| ₹61.45 |
Prospect Commodities Limited
417, Sun Orbit B/h. Rajpath Club Road,
Bodakdev,
Ahmedabad - 380054
Phone: 079-48000696
Email: info@prospectcommodities.com
Website: http://www.prospectcommodities.com/
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html
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Prospect Commodities IPO is a SME IPO of 1,226,000 equity shares of the face value of ₹10 aggregating up to ₹7.48 Crores. The issue is priced at ₹61 per share. The minimum order quantity is 2000 Shares.
The IPO opens on March 8, 2023, and closes on March 13, 2023.
Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Prospect Commodities IPO using UPI as a payment gateway. Zerodha customers can apply in Prospect Commodities IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Prospect Commodities IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Prospect Commodities IPO opens on March 8, 2023 and closes on March 13, 2023.
Prospect Commodities IPO lot size is 2000 Shares, and the minimum amount required is ₹122,000.
You can apply in Prospect Commodities IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Prospect Commodities IPO will be done on Thursday, March 16, 2023, and the allotted shares will be credited to your demat account by Monday, March 20, 2023. Check the Prospect Commodities IPO allotment status.
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