IPO Details

Bidding Dates

08 Mar '23 - 10 Mar '23

Minimum Investment

₹122,000 / 1 Lots ( 2000 Shares )

Price Range

₹61

Maximum Investment

₹122,000 / 1 Lots ( 2000 Shares )

Retail Discount

To be announced

Issue Size

₹7.48 Cr

Investor category and sub category

Qualified Institutional Buyers   |   Non-Institutional Investors   |   Retail Individual Investors   |  

IPO Dates

Important dates with respect to IPO allotment and listing

IPO Open Date

Mar 8, 2023

IPO Close Date

Mar 10, 2023

IPO Allotment Date

Mar 15, 2023

Initiation Of Refunds

Mar 16, 2023

Credit Of Shares To Demat Account

Mar 17, 2023

IPO Listing Date

Mar 20, 2023

IPO Subscription Details

DateNIIRetailTotal

Day 1Mar 8, 2023

 3.92 0.22 2.07

Day 2Mar 9, 2023

 4.17 0.62 2.40

Day 3Mar 10, 2023

 4.65 1.63 3.14

IPO Subscription Status Live

Investor Category Subscription (Times)
Non-Institutional Buyers 4.65
Retail Investors 1.63
Total 3.14

About Company

The company is involved in the trading of agro products. Although it is a recently incorporated business, the promoter has several years of experience in the logistics industry and running a partnership business that primarily deals with the import and export of various agricultural commodities. In 2018, they started importing cashew husks from Vietnam and sold them to different tanning companies.

In 2021, they started a cashew processing firm with a capacity of processing 150 tonnes annually. It recorded a turnover of ₹987.98 lakhs, with ₹784.87 lakhs from agri products. From 2020 to 2021, the company grew at a 107% rate. 

Prospect Commodities Ltd. IPO Objective 

The company proposes to utilise the funds for the following objectives.

  • Repayment of unsecured loans
  • To fund long-term capital requirements 
  • General corporate expenses 
  • And, meeting public issue expenses

Why should you invest in Prospect Commodities Ltd. IPO?

Here are your top reasons to invest in Prospect Commodities Limited IPO.

  • The company has increased its capacity from 150 tonnes per year to 600 tonnes per annum. 
  • They have strong business relationships with internal and external partners, with extended experience in trading agricultural products.
  • They cater to the PAN India market, although they successfully sell their entire cashew proceeds in Gujarat only. 
  • They have a solid product quality monitoring and after-sale services policy. 

Prospect Commodities Ltd. Noteworthy highlights 

  • Prospect Commodities Limited has taken over the entire business of the erstwhile partnership firm, including all liabilities and assets.
  • The company operates in the B2B model, selling to wholesalers in Gujarat.
  • They have increased their installed capacity from 150 tonnes annually to 600 tonnes to meet growing demands.

Know before investing

Strengths

3

  1. Quality assurance and constantly meeting the quality standard demands of clients.

  2. They have a robust sales channel for the smooth operation of their B2B business.

  3. They are focusing on geographical expansion and entering the B2C category.

Risks

3

  1. The company is struggling with low production capacity and working capital constraints.

  2. Prices are affected by the changes in customs duty in importing countries.

  3. The company faces competition from other manufacturers offering lower prices.

  • How to Apply in IPO
  • How to Check IPO Allotment Status
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Prospect Commodities IPO FAQs

What is Prospect Commodities Ltd. IPO?

Prospect Commodities Ltd. SME has filed DRHP to raise ₹7.48 crore by selling 12,26,000 equity shares at a price of ₹61 per share.

When will Prospect Commodities Ltd. IPO allotment be available?

The basis of allotment date is March 15, 2023.

What will be the Prospect Commodities Ltd. IPO lot size?

One lot of Prospect Commodities Ltd. IPO has 2000 shares.

When will Prospect Commodities Ltd. IPO open for subscription?

The IPO will open on March 08, 2023.

What minimum lot size can retail investors subscribe to?

Retail investors can apply for a minimum of one lot.

When will Prospect Commodities Ltd. list on exchanges?

The listing date of Prospect Commodities Ltd. on BSE SME is March 20, 2023.

How to check the allotment status of Prospect Commodities Ltd. IPO?

You can check the allotment status of your IPO application from the Angel One app.

To check the IPO allotment status, enter the application number, DP ID, and PAN number into the app. 

What would be the listing gains on the Prospect Commodities Ltd. IPO?

Listing gain is the difference between the IPO’s opening and offer prices. The listing gain is influenced by changing investors’ interests, global parameters, and short vs long-term outlooks.

I have finished the application process for Prospect Commodities Ltd. IPO, but the funds are not yet debited. What is the reason?

The bank initially blocks the amount you bid for an IPO. It will debit the money when the shares are allotted or unblock the amount after the UPI mandate expiry date.

How to approve the UPI mandate request for Prospect Commodities Ltd. IPO?

Login to your UPI handle and approve the payment mandate to complete the IPO application process.

Can I submit more than one application for the public issue of Prospect Commodities Ltd. using one PAN?

You can submit only one application using one PAN card.

What is the minimum order quantity for Prospect Commodities Ltd. IPO?

The minimum size of the application will be one lot of 2000 shares.