Fixed Price IPO | ₹7 Cr | Listed at BSE SME | Wed, Mar 8, 2023 - Mon, Mar 13, 2023
Prospect Commodities IPO is a fixed price issue of ₹7.48 crores. The issue is entirely a fresh issue of 0.12 crore shares of ₹7.48 crore.
Prospect Commodities IPO bidding started from Mar 8, 2023 and ended on Mar 13, 2023. The allotment for Prospect Commodities IPO was finalized on Mar 16, 2023. The shares got listed on BSE SME on Mar 20, 2023.
Prospect Commodities IPO price is ₹61 per share. The lot size for an application is 2,000. The minimum amount of investment required by an individual investor (retail) is ₹1,22,000 (2000 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (4,000 shares), amounting to ₹2,44,000.
Interactive Financial Services Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Beeline Broking Ltd..
Refer to Prospect Commodities IPO RHP for detailed Information.
IPO Open
Wed, Mar 8, 2023
IPO Close
Mon, Mar 13, 2023
Issue Price
₹61 per share
Market Cap (Pre-IPO)
₹24.95 Cr
| IPO Date | 8 to 13 Mar, 2023 |
| Listed on | Mon, Mar 20, 2023 |
| Face Value | ₹10 per share |
| Issue Price | ₹61 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Total Issue Size | 12,26,000 shares (agg. up to ₹7 Cr) |
| Reserved for Market Maker | 62,000 shares Beeline Broking Ltd. (agg. up to ₹0.3782 Cr) |
| Fresh Issue (Ex Market Maker) | 11,64,000 shares (agg. up to ₹7 Cr) |
| Net Offered to Public | 11,64,000 shares (agg. up to ₹7 Cr) |
| Share Holding Pre Issue | 28,64,500 shares |
| Share Holding Post Issue | 40,90,500 shares |
| BSE Script Code | 543814 |
| ISIN | INE0OKG01017 |
Prospect Commodities IPO comprises a total issue size of 12,26,000 shares. The net offer to the public is 11,64,000 shares, after excluding 62,000 shares allotted on a firm basis. Of the Net offer 5,82,000 (50.00%) allocated to NII 5,82,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 5,82,000 | 50.00% | 47.47% |
| Retail Shares Offered | 5,82,000 | 50.00% | 47.47% |
| Firm Reservations | |||
| Market Maker Shares Offered | 62,000 | 5.06% | |
| Total Shares Offered | 12,26,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 2,000 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2,000 | ₹1,22,000 |
| Retail (Max) | 1 | 2,000 | ₹1,22,000 |
| HNI (Min) | 2 | 4,000 | ₹2,44,000 |
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 | 30 Nov 2022 | 31 Mar 2022 |
|---|---|---|
| Assets | 9.77 | 0.01 |
| Total Income | 8.40 | 0.00 |
| Profit After Tax | 0.53 | -0.00 |
| NET Worth | 2.94 | 0.01 |
| Reserves and Surplus | 0.53 | -0.00 |
| Total Borrowing | 3.64 | 0.00 |
| Amount in ₹ Crore | ||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Repayment of Unsecured Loans | 0.50 |
| 2 | Long-term working capital requirement | 4.40 |
| 3 | General Corporate Purpose, | 1.60 |
| Pre IPO | Post IPO | |
|---|---|---|
| P/E (x) | 31.44 | |
| Promoter Holding | 88.44% | 61.94% |
| Market Cap | ₹24.95 Cr. |
The Prospect Commodities IPO is subscribed 5.31 times on March 13, 2023 7:02:00 PM (Day 4). 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) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 6.85 | 5,82,000 | 39,86,000 |
| Retail | 3.76 | 5,82,000 | 21,90,000 |
| Total | 5.31 | 11,64,000 | 61,76,000 |
Total Application : 1,191
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead Manger Fees including Underwriting Commission. | 0.24 |
| 2 | Brokerage, selling commission and Marketing fees | 0.40 |
| 3 | Registrar to the Issue | 0.01 |
| 4 | Legal Advisors | 0.03 |
| 5 | Advertising and marketing expenses | 0.05 |
| 6 | Regulators including stock exchanges | 0.10 |
| 7 | Printing and distribution of issue stationary | 0.03 |
| 8 | Others (Market Making fees etc.) | 0.12 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹61.00 |
| Open | ₹61.00 |
| Low | ₹61.00 |
| High | ₹64.05 |
| Last Trade | ₹61.45 |
Lead Manager Reports
Prospect Commodities IPO is a SME IPO of 12,26,000 equity shares of the face value of ₹10 aggregating up to ₹7 Crores. The issue is priced at ₹61 per share. The minimum order quantity is 2000.
The IPO opens on Wed, Mar 8, 2023, and closes on Mon, Mar 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 Wed, Mar 8, 2023 and closes on Mon, Mar 13, 2023.
Prospect Commodities IPO lot size is 2000, and the minimum amount required for application is ₹1,22,000.
You can apply in Prospect Commodities IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, 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 Mon, Mar 20, 2023. Check the Prospect Commodities IPO allotment status.
The Prospect Commodities IPO listing date is on Mon, Mar 20, 2023.
