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Home / Markets / Ipo /  Prudent Corporate share listing today. Experts predict 'moderate' debut
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Prudent Corporate IPO: Shares of the retail wealth management services company is going to hit the Dalal Street today. As per the information available on BSE website, the equity shares of Prudent Corporate Advisory Services Limited shall be listed and admitted to dealings on the exchange in the list of 'B' group of securities on 20th May 2020 i.e. today in a Special Pre-open Session. According to stock market experts, much will depend upon the market mood. They said that the stock may have a 'moderate' debut and it may open at a discounted price if the market continue to remain under the sell-off heat.

Expecting 'moderate' debut for Prudent Corporate shares, Avinash Gorakshkar, Head of Research at Profitmart Securities said, "It won't have a robust opening. Much will depend on the market mood. If the market opens upside we may expect the stock to open around 630 to 650 while in the case of weak opening, the stock may open at around 5 per cent discount or say below 600 levels." He said that the retail wealth management company has a strong business model but due to higher valuations and price, it received tepid response from investors and this is going to happen with the stock after listing as well. He said that its peers like Anand Rathi Wealth are available at more attractive valuations so the stock may not attract big investors post-listing.

Echoing with Avinash Gorakshkar's views, Anuj Gupta, Vice President — Research at IIFL Securities said, "Prudent Corporate shares are listing at a time when market is completely under bears' grip. In fact, if we look at the US markets close on Thursday, chances of weak opening today is much higher. In such case, I won't be surprised if the stock opens at some discount." Anuj Gupta of IIFL Securities said that shares of retail wealth management services company may open in the range of 570 to 595 in bear case whereas in bulls case it may open around 640-650 apiece levels.

Speaking on Prudent Corporate share listing, Abhay Doshi, Founder at UnlistedArena.com said, "Prudent Corporate Advisory Services Limited got a dull response from investors due to higher valuations and jittery market conditions. The operational metrics looked decent but higher pricing made investors wary. The recent discount listings of IPOs too may have a cascading effect. Thus the issue may list at par or marginal discount levels to its issue price."

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

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