Prospect Commodities IPO GMP, Price, Dates & Allotment Details 2023
The Prospect Commodities IPO will open on March 8 and close on March 10, 2023. As per the DRHP filed with SEBI, the company intends to raise approximately ₹ 7.48 crore through this public offering, consisting of 1,226,000 shares of face value of ₹ 10 each. Which will be issued at a price of ₹ 61 per share.
The business originally started as a partnership firm in 2015. a company incorporated in 2022 named Prospect Commodities Private Limited. The company had taken over the running business of the partnership firm with all assets and liabilities as of April 1, 2022, by entering into a memorandum of understanding.
The company is in the business of trading cashews in the B2B market. The company is selling the cashews to wholesalers only in the state of Gujarat. Currently, the company is not able to cater to the demand of Gujarat State; hence, it has not ventured to supply or develop markets outside of Gujarat. The cashews are packed in a tin weighing 10 kg.
Objects of the Issue
The company proposes to utilize the net proceeds of the Fresh Issue towards funding the following objects:
- Repayment of Unsecured Loans
- Long-term working capital requirement
- General Corporate Purpose
- Meeting public issue expenses
Financial Highlights (Restated)
| Particulars | Period ended on 30th Nov. 2022 | FY 2021-22 |
|---|---|---|
| Net Worth | 293.07 | 0.85 |
| Total Assets | 977.07 | 1.05 |
| Total Borrowings | 363.57 | 0.05 |
| Total Revenue | 839.98 | 0.00 |
| Profit After Tax | 52.85 | (0.15) |
Prospect Commodities IPO – Details
As per the DRHP filed with SEBI, a total of 12.26 lakh shares will be offered as part of the fresh issue on the BSE SME segment. The face value of the shares is ₹ 10. The market maker would receive 62,000 shares of the offering. While Interactive Financial Services Ltd will be the lead manager for the IPO, Bigshare Services Pvt Ltd will be the registrar. It will be a Fixed Price Issue IPO, so there will be a price at which the securities are offered or allotted is known in advance to the investor.
| Issue Type | Fixed Price Issue IPO |
| IPO Price | ₹ 61 per share |
| Face Value | ₹ 10 per share |
| Market Lot | 2,000 Shares |
| Issue Size | 1,226,000 shares of ₹ 10 (Aggregating up to ₹ 7.48 Crore) |
| Fresh Issue | 1,226,000 shares of ₹ 10 (Aggregating up to ₹ 7.48 Crore) |
| Market Maker Portion | 62,000 shares |
| Market Maker | BEELINE BROKING LTD. |
| NII (HNI) Shares Offered | 50% of the Net Issue |
| Retail Shares Offered | 50% of the Net Issue |
| Listing At | BSE SME |
| Company Promoters | Vimal Mishra and Priyanka Mishra |
GMP – Prospect Commodities IPO
Prospect Commodities’ IPO GMP, or grey market premium, is available on this page. The IPO GMP is updated on a day-to-day basis during the running period of the IPO, due to which the GMP rates fluctuate and stabilize after some time. GMP rates are not 100% guaranteed. Please click here for GMP details.
Tentative Dates – Prospect Commodities IPO
The issue opens for subscription on March 8, 2023, and closes for subscription on March 10, 2023 (both days inclusive). The basis of allotment will be finalized on March 15th, 2023, and the refunds will be initiated on March 16th, 2023. In addition, the demat credits are expected to happen on March 17th, 2023, and the stock will list on March 20th, 2023, on the BSE SME segment.
| Opening Date | March 8, 2023 |
| Closing Date | March 10, 2023 |
| Basis of Allotment | March 15, 2023 |
| Initiation of Refunds | March 16, 2023 |
| Credit of shares to Demat A/c | March 17, 2023 |
| Listing Date | March 20, 2023 |
Lot Size – Prospect Commodities IPO
The lot size of the Prospect Commodities IPO is 2,000 shares. A retail-individual investor can apply for up to lots, i.e. 2,000 shares of ₹ 122,000.
| Applications | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Minimum) | 1 | 2,000 | ₹ 122,000 |
| Retail (Maximum) | 1 | 2,000 | ₹ 122,000 |
| HNI (Minimum) | 2 | 4,000 | ₹ 244,000 |
Promoters Holdings – Prospect Commodities IPO
| Pre-issue Shares Holdings | 88.44% |
| Post-issue Shares Holdings | 61.94% |
SWOT Analysis – Prospect Commodities IPO
| STRENGTHS | WEAKNESSES |
|---|---|
| 1. In depth International Market knowledge of promoters. 2. Quality Assurance. 3. Robust Sales Channel. | 1. Low production Capacity. 2. Working capital constraint. |
| OPPORTUNITIES | THREATS |
| 1. New business from existing clients. 2. New product launch.B2C segment. 3. Geographical Expansion. Enhancement of production capacity. 4. Trading of other dry fruits along with cashew nuts. | 1. Highly Competitive Business. 2. Low price offered by other manufacturers. 3. Suppliers from other countries offering better prices. 4. Changes in the custom duty in the importing country. 5. Changes in government policies. 6. Fluctuations in raw material prices. |
Miscellaneous Information
| Download Prospectus (PDF) | IPO DRHP IPO RHP |
| Company Contact Information | Prospect Commodities Limited 417, Sun Orbit B/h. Rajpath Club Road, Bodak dev, Ahmedabad – 380054 Phone: 079-48000696 Email: [email protected] Website: http://www.prospectcommodities.com/ |
| IPO Registrar | Bigshare Services Pvt Ltd Phone: +91-22-6263 8200 Email: [email protected] Website: https://www.bigshareonline.com/ |
| IPO Lead Manager(s) | Interactive Financial Services Ltd |
FAQ’s
What is Prospect Commodities Ltd. IPO price?
The Prospect Commodities Ltd. IPO price is ₹ 61 per share.
What will be the Prospect Commodities Ltd. IPO lot size?
One lot of the Prospect Commodities Ltd. IPO contains 2,000 shares of ₹ 122,000.
What minimum lot size can retail investors subscribe to?
The minimum investment size is one lot for retail investors.
When will Prospect Commodities Ltd. IPO allotment available?
The finalisation of the basis of allotment for the Prospect Commodities Ltd. IPO will be done on March 15, 2023, and the allotted shares will be credited to your demat account by March 17, 2023. Check the Prospect Commodities Ltd. IPO allotment status.
When will Prospect Commodities Ltd. IPO list on exchanges?
The Prospect Commodities Ltd. IPO shares listing date is March 20, 2023.
Thank you for being of assistance to me. I really loved this article.