Prudent Corporate Advisory Services IPO Basis of Allotment

Our Company was incorporated on June 4, 2003, as 'Prudent Corporate Advisory Services Limited', a public limited company under the Companies Act, 1956, pursuant to a certificate of incorporation issued by the Registrar of Companies.

Gujarat at Ahmedabad, Our Company commenced its operations pursuant to a certificate for commencement of business dated June 20, 2003, issued by the RoC. For details of the change in the Registered Office of our Company, see the section titled "History and Certain Corporate Matters" on page 166 of the Prospectus dated May 14, 2022 ("Prospectus").

Our Company has filed the Prospectus with the RoC, SEBI, BSE Limited ("BSE") and National Stock Exchange of India Limited ("NSE") and the Equity Shares are proposed to be listed on the BSE and NSE and the trading will commence on or about Friday, May 20, 2022.

INITIAL PUBLIC OFFER OF 68,08,820# EQUITY SHARES OF FACE VALUE OF Rs. 5 EACH (THE "EQUITY SHARES") OF PRUDENT CORPORATE ADVISORY SERVICES LIMITED (OUR "COMPANY") FOR CASH AT A PRICE OF Rs. 630* PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF Rs. 625 PER EQUITY SHARE) AGGREGATING TO Rs. 4282.84 MILLION (THE "OFFER"), COMPRISING AN OFFER FOR SALE OF 65,95,381 EQUITY SHARES AGGREGATING TO Rs. 4148.58 MILLION BY WAGNER LIMITED ("WAGNER") AND 2,13,439 EQUITY SHARES AGGREGATING TO Rs. 134.26 MILLION BY SHIRISH PATEL (TOGETHER WITH WAGNER, THE "SELLING SHAREHOLDERS"). THE OFFER INCLUDED A RESERVATION OF 113,835 EQUITY SHARES AGGREGATING TO Rs. 65.00 MILLION (CONSTITUTING UP TO 0.27% OF THE POST-OFFER PAID-UP EQUITY SHARE CAPITAL OF OUR COMPANY) FOR PURCHASE BY ELIGIBLE EMPLOYEES (THE "EMPLOYEE RESERVATION PORTION"). THE OFFER LESS THE EMPLOYEE RESERVATION PORTION IS HEREINAFTER REFERRED TO AS THE "NET OFFER". THE OFFER AND THE NET OFFER CONSTITUTES AT LEAST 16.44% AND 16.17% OF OUR POSTOFFER PAID-UP EQUITY SHARE CAPITAL, RESPECTIVELY.

* Based on Basis of Allotment as approved by BSE, Designated Stock Exchange

* A discount of Rs. 59 per Equity Share is being offered to Eligible Employees bidding in the Employee Reservation Portion

* Acquired pursuant to bonus issue on August 3, 2021 and/or pursuant to conversion of compulsorily convertible preference shares on November 30, 2021.

$: as on date of RHP

The Offer has been made in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended, (the "SCRR" read with Regulation 31 of the SEBI ICDR Regulations. The Offer has been made through the Book Building Process, in compliance with Regulation 6(1) of the SEBI ICDR Regulations, where not more than 50% of the Net Offer was available for allocation on a proportionate basis to Qualified Institutional Buyers ("QIBs") (the "QIB Category"), provided that our Company and Selling Shareholders in consultation with the BRLMs, allocated up to 60% of the QIB Category to Anchor Investors, on a discretionary basis (the "Anchor Investor Portion"), of which one-third was reserved for domestic Mutual Funds, subject to valid Bids having been received from domestic Mutual Funds at or above the price at which Equity Shares are allocated to Anchor Investors. Further, 5% of the QIB Category (excluding the Anchor Investor Portion) was available for allocation on a proportionate basis to Mutual Funds only and the remainder of the QIB Category was available for allocation on a proportionate basis to all QIBs, including Mutual Funds, subject to valid Bids being received at or above the Offer Price Further, not less than 15.00% of the Net Offer was made available for allocation to Non-Institution Bidders, of which (a) one third of such portion was reserved for applicants with application size of more than Rs.200,000 and up to Rs.1 million: and (b) two third of such portion was reserved for applicants with application size of more than Rs. 1 million, provided that the unsubscribed portion in either of such sub-categories was allocated to applicants in the other sub category of Non- Institutional Bidders and not less than 35.00% of the Net Offer was made available for allocation to Retail Individual Bidders ("RIBs") in accordance with the SEBI ICDR Regulations, subject to valid Bids having been received at or above the Offer Price. All potential Bidders (other than Anchor investors) were required to mandatory participate in this Offer through the Application Supported by Block Amount ("ASBA") process and were required to provide details of their respective bank account (including UPI ID for UPI Bidders using the UPI Mechanism) in which the Bid Amount was blocked by the SCSBs or the Sponsor Bank under the UPI Mechanism, as the case may be. Anchor Investors were not permitted to participate in the Offer through the ASBA process. For details, specific attention is invited to 'Offer Procedure' on page 329 of the Prospectus. The bidding for Anchor Investor opened and closed on Monday, May 09, 2022. The Company received 24 applications from 15 Anchor Investors for 27,77,825 Equity Shares. The Anchor investor price was finalized at Rs. 630 per Equity Share. A total of 2,530,651 Equity Shares were allocated under the Anchor Investor Offer Price aggregating to Rs. 1,594,310,130,00.

The Offer received 42,868 applications for 71,34,301 Equity Shares (prior to technical rejections) resulting in 0.8345 times subscription. The details of the applications received in the Offer from various categories are as under. (before technical rejections):

Final Demand

A summary of the final demand as at different Bid prices is as under:

The Basis of Allotment was finalized in consultation with the Designated Stock Exchange, being BSE on May 18, 2022.

A. Allotment to Retail Individual Bidders (after technical rejections) (including ASBA Applications)

The Basis of allotment to the Retail individual Bidders, who have Bid at the Cut-Off Price or at the Offer Price of Rs. 630 per Equity Share, was finalized in consultation with the Designated Stock Exchange, being BSE. This category has been subscribed to the extent of 0.3744 times. The total number of Equity Shares Allotted in Retail Portion is 11,05,242 Equity Shares to 39,550 successful. Retail Individual Bidders, The category-wise details of the Basis of Allotment are as under:

B. Allotment to Non-Institutional Bidders (After Technical Rejections) (Upto 10 lacs)

The Basis of allotment to the Non-Institutional Bidders, who have Bid at the Offer Price of Rs. 630 per Equity Share, was finalized in consultation with the Designated Stock Exchange, being BSE The Non-Institutional Portion has been subscribed to the extent of 0.1876 times. The total number of Equity Shares Allotted in the category is 79,143 Equity Shares to 213 successful Non- Institutional Bidders. The category-wise details of the Basis of Allotment are as under:

C. Allotments Non-Institutional Bidders (After Technical Rejections) (Above 10 lacs)

The Basis of Allotment to the Non-Institutional Bidders, who have Bid at the Offer Price of Rs 630 per Equity Share, was finalized in consultation with the Designated Stock Exchange, being BSE. The Non-Institutional Portion has been subscribed to the extent of 0.7245 times. The total number of Equity Shares Allotted in this category is 859,349 Equity Shares to 126 successful Non- Institutional Bidders. The category-wise details of the Basis of Allotment re as under:

D. Allotment to Eligible Employees: (Upto Rs. 2,00,000)

The Basis of Allotment to the Eligible Employees, who have Bid at the Offer Price of Rs 630 (including discount of Rs. 59 per Equity Share offered to Eligible Employees) per Equity Share, was finalized in consultation with the Designated Stock Exchange, being BSE. The Employee Reservation Portion has been subscribed to the extent of 0.7668 times, times. The total number of Equity Shares Allotted in this category is 87,285 Equity Shares to 517 success Eligible Employees. The category-wise details of the Basis of Allotment are as under:

D. Allotment to Eligible Employees: (Above Rs. 200,000 and upto Rs. 5,00,000)

The Basis of Allotment to the Eligible Employees, who have Bid at the Offer Price of Rs. 630 (Including discount of Rs. 59 per Equity Share offered to Eligible Employees) per Equity Share was finalized in consultation with the Designated Stock Exchange, being BSE. The Employee Reservation Portion has been subscribed to the extent of 1.0534 times. The total number of Equity Shares Allotted in this category is 26,550 Equity Shares to 85 successful Eligible Employees. The category-wise details of the Basis of Allotment are as under:

E. Allotment to QIBs

Allotment to QIBs. who have Bid at the Offer Price of Rs 630 per Equity Share or above, has been done on a proportionate basis in consolation with the Designated Stock Exchange, being BSE. This category has been subscribed to the extent of 1.2569 times of QIB Category. As per the SEBI ICDR Regulations, Mutual Funds there Allotted 5% of the Equity Shares of QIB Category available i.e. 193,057 Equity Shares and other QIBs and unsatisfied demand of Mutual Funds were Allotted the remaining available Equity Shares i.e. 1,927,543 Equity Shares on a proportionate basis. The total number of Equity Shares Allotted in the QIB Category Rs 21,20,600 Equity Shares, which were allotted to 11 successful QIB Bidders. The category-wise details of the Basis of Allotment are as under:

F. Allotment to Anchor Investors

The Company and the Selling Shareholders in consultation with the BRLMs, have allocated 25,30,651 Equity Shares to 15 Anchor Investors (through 24 Applications) at the Anchor Investor Offer Price of Rs. 630 per Equity Share in accordance with the SEBI ICDR Regulations. The represents 60% of the QIB Category.

The Board of Directors of our company on May 18, 2022 has taken on record the Basis of Allotment of Equity Shares approved by the Designated Stock Exchange, being BSE and has allotted the Equity Shares to various successful Bidders. The Allotment Advice-cum-Intimations and/or notices will be dispatched to the address of the investors as registered with the depositories. Further the instructions to the Self Certified Syndicate Banks for unblocking of funds, transfer to Public Offer Account have been issued on May 18, 2022 and payment to non- Syndicate brokers have been issued on May 18, 2022. In case the same is not received within ten days, investors may contact the Registrar to the Offer at the address given below. The Equity Shares Allotted to the successful Allottees have been uploaded on May 19, 2022 for credit into the respective beneficiary accounts subject to validation of the account details with the depositories concerned. The Company has filed the Listing application With BSE and NSE on May 19, 2022. The Company has received listing and trading approval from BSE and NSE and the trading will commence on or about May 20, 2022.

All capitalised terms used and not specifically defined herein shall have the same meaning as ascribed to them in the Prospectus.

INVESTORS PLEASE NOTE

The details of the allotment made will be hosted on the website of the Registrar to the Offer, Link Intime India Private Limited at www.linkintime.co.in

All future correspondence in this regard may kindly be addressed to the Registrar to the Offer quoting full name of the first^/sole Bidder, Bid cum Application Form number, Bidder DP ID, Client ID, PAN, date of submission of Bid cum Application Form, address of the Bidder, number of Equity Shares applied for, the name and address of the Designated Intermediary where the Bid-cum-Application Form was submitted by the Bidder and a copy of the Acknowledgment Slip received from the Designated Intermediary at the address given below:

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARES ON LISTING OR THE BUSINESS PROSPECTS OF PRUDENT CORPORATE ADVISORY SERVICES LIMITED.

PRUDENT CORPORATE ADVISORY SERVICES LIMITED has filed the Prospectus dated May 14, 2022 with RoC. The Prospectus shall be available on the website of SEBI at www.sebi.gov.in, websites of the Stock Exchanges i.e. BSE and NSE at www.bseindia.com and www.nseindia.com, respectively, and is available on the websites of the BRLMs i.e. ICICI Securities Limited, Axis Capital Limited and Equirus Capital Private Limited at www.icicisecurities.com, www.axiscapital.co.in and www.equirus.com, respectively. Investors should note that investment in equity shares involves a high degree of risk and for details relating to such risk, please see the section entitled "Risk Factors^" on page 27 of the Prospectus.

This announcement does not constitute an offer of securities for sale in any jurisdiction, including the United Stales, and any securities described in this announcement may not be offered or sold in the United Slates absent registration under the U.S. Securities Act of 1933 or an exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the Company and that will contain detailed information about the Company and management, as well as financial statements, However the securities described in this announcement are not being offered or sold in the United States.