PRUDENT CORPORATE ADVISORY SERVICES LIMITED INITIAL PUBLIC OFFERING TO OPEN ON MAY 10, 2022

Press Release

• 05-05-2022

Kochi, 05th May, 2022: Prudent Corporate Advisory Services Limited (the “Company”), to open its initial public offering (the “Offer”) on May 10, 2022. The Anchor Investor Bid/Offer Period is one Working Day prior to Bid/Offer Opening Date, that is, May 09, 2022.

The Price Band of the Offer has been fixed at ₹ 595 per Equity Share to ₹ 630 per Equity Share of face value ₹ 5 each. The Offer includes an Employee Discount of Rs. 59 per Equity Share on the Offer Price for Eligible Employees Bidding in the Employee Reservation Portion (defined below). Bids can be made for a minimum of 23 Equity Shares and in multiples of 23 Equity Shares thereafter.

The Offer comprises of up to 8,549,340 equity shares of face value ₹ 5 each which includes up to 8,281,340 equity shares by Wagner Limited and up to 268,000 equity shares by Shirish Patel (the “Selling Shareholders” and such offer referred to as the “Offer for Sale”).

This Offer includes a reservation of equity shares aggregating up to ₹ 65.00 million for subscription by Eligible Employees (the “Employee Reservation Portion”).

The Offer is being made in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended, (the “SCRR”) read with Regulation 31 of the SEBI ICDR Regulations. The Offer is being made through the Book Building Process, in compliance with Regulation 6(1) of the SEBI ICDR Regulations, where not more than 50% of the Net Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs”) (the “QIB Category”), provided that our Company and Selling Shareholders in consultation with the BRLMs, may allocate up to 60% of the QIB Category to Anchor Investors, on a discretionary basis (the “Anchor Investor Portion”), of which one-third shall be reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the price at which Equity Shares are allocated to Anchor Investors. In the event of under-subscription or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the QIB Category (other than Anchor Investor Portion).

Further, 5% of the QIB Category (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis to Mutual Funds only and the remainder of the QIB Category shall be available for allocation on a proportionate basis to all QIBs, including Mutual Funds, subject to valid Bids being received at or above the Offer Price. Further, not less than 15.00% of the Net Offer shall be available for allocation to Non-Institutional Bidders, of which (a) one third of such portion shall be reserved for applicants with application size of more than ₹200,000 and up to ₹1 million; and (b) two third of such portion shall be reserved for applicants with application size of more than ₹1 million, provided that the unsubscribed portion in either of such sub-categories may be allocated to applicants in the other sub-category of Non-Institutional Bidders and not less than 35.00% of the Net Offer shall be available for allocation to Retail Individual Bidders (“RIBs”) in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. All potential Bidders (other than Anchor Investors) shall mandatorily participate in this Offer through the Application Supported by Block Amount (“ASBA”) process and shall provide details of their respective bank account (including UPI ID for UPI Bidders using the UPI Mechanism) in which the Bid Amount will be blocked by the SCSBs or the Sponsor Bank under the UPI Mechanism, as the case may be. Anchor Investors are not permitted to participate in the Offer through the ASBA process.

The Equity Shares offered in this Offer are proposed to be listed on both BSE Limited (“BSE”) and the National Stock Exchange of India Limited (“NSE”, together with BSE, the “Stock Exchanges”).

ICICI Securities Limited, Axis Capital Limited, and Equirus Capital Private Limited are the Book Running Lead Managers to the Offer.

Disclaimer:

PRUDENT CORPORATE ADVISORY SERVICES LIMITED is proposing, subject to applicable statutory and regulatory requirements, receipt of requisite approvals, market conditions and other considerations, to make an initial public offering of its Equity Shares and has filed the RHP with RoC on May 2, 2022. The RHP shall be available on the website of SEBI at www.sebi.gov.in, websites of the Stock Exchanges i.e. BSE and NSE at www.bseindia.com and www.nseindia.com, respectively, and is available on the websites of the BRLMs i.e. ICICI Securities Limited, Axis Capital Limited and Equirus Capital Private Limited at www.icicisecurities.com, www.axiscapital.co.in and www.equirus.com, respectively. Investors should note that investment in equity shares involves a high degree of risk and for details relating to such risk, please see the section entitled “Risk Factors” on page 27 of the RHP. Potential investors should not rely on the DRHP filed with SEBI for making any investment decision.

This announcement does not constitute an offer of securities for sale in any jurisdiction, including the United States, and any securities described in this announcement may not be offered or sold in the United States absent registration under the U.S. Securities Act of 1933 or an exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the Company and that will contain detailed information about the Company and management, as well as financial statements. However, the securities described in this announcement are not being offered or sold in the United States.

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