Prospect Commodities Limited IPO Detail
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:
- Cleaning
- Boiling and Cooling
- De Shelling
- Drying
- Moisture and Peeling
- Sorting
- Drying
- Grading
- Manual Sorting and Grading
- Drying before Dispatch
- Packing and Dispatch
Company Promoters
Vimal Mishra and Priyanka MishraIPO Details
| IPO Opening Date | Mar 08, 2023 |
| IPO Closing Date | Mar 13, 2023 |
| Issue Type | Fixed Price Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹61 per equity share |
| Market Lot | 2000 Shares |
| Min Order Quantity | 2000 Shares |
| Listing At | BSE SME |
| Issue Size | ₹7.48 Cr |
| Fresh Issue | ₹7.48 Cr |
| Offer for Sale | - |
| Retail Portion | 50% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | - | - | 4.65x | 1.63x | 3.14x | |
| Day 2 | - | - | 6.85x | 3.76x | 5.31x |
IPO Tentative Timetable
The Prospect Commodities Limited IPO open date is Mar 08, 2023, and the close date is Mar 13, 2023. The issue may list on Mar 21, 2023.
| IPO Open Date | Mar 08, 2023 |
| IPO Close Date | Mar 13, 2023 |
| Basis of Allotment Date | Mar 16, 2023 |
| Initiation of Refunds | Mar 17, 2023 |
| Credit of Shares to Demat Account | Mar 20, 2023 |
| IPO Listing Date | Mar 21, 2023 |
IPO Lot Size
The Prospect Commodities Limited IPO market lot size is 2000 shares. A retail-individual investor can apply for up to 1 lots (2000 shares or ₹122000).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 2000 | ₹122000 |
| Maximum | 1 | 2000 | ₹122000 |
IPO Promoter Holding
| Pre Issue Share Holding | 88.44% |
| Post Issue Share Holding | 61.94% |
Company Financials:
For the year/period ended (₹ in Lakhs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-22 | 1.05 | 0.00 | -0.15 |
| 30-Nov-22 | 977.07 | 839.98 | 52.85 |
Objects of the Issue:
The Company proposes to utilize the Net Proceeds from the issue towards the following objects:
- Repayment of Unsecured Loans
- Long-term working capital requirement
- General Corporate Purpose
- Meeting Public Issue Expenses.
Prospect Commodities Limited IPO Registrar:
Bigshare Services Pvt Ltd
Prospect Commodities Limited IPO Lead Manager(s):
Interactive Financial Services Ltd
Company Contact Information:
Prospect Commodities Limited
417, Sun Orbit B/h. Rajpath Club Road,
Bodakdev,
Ahmedabad - 380054
