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 Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 31-Mar-22 | 1.05 | 0.00 | -0.15 | 0.85 | -0.15 | 0.05 |
| 30-Nov-22 | 977.07 | 839.98 | 52.85 | 293.70 | 52.70 | 363.57 |
| Amount in ₹ Lakhs |
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 IPO Details
| IPO Date | Mar 8, 2023 to Mar 13, 2023 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹61 per share |
| Lot Size | 2000 Shares |
| Issue Size | 1,226,000 shares of ₹10 (aggregating up to ₹7.48 Cr) |
| Fresh Issue | 1,226,000 shares of ₹10 (aggregating up to ₹7.48 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| P/E (x) | 31.44 |
| Market Cap (₹ Cr.) | 24.95 |
Prospect Commodities IPO Reservation
| NII (HNI) Shares Offered | 50% of the Net Issue |
| Retail Shares Offered | 50% of the Net Issue |
| Market Maker portion | 62,000 shares (BEELINE BROKING LTD.) |
Prospect Commodities IPO Tentative Timetable
Prospect Commodities IPO opens on Mar 8, 2023, and closes on Mar 13, 2023. The Prospect Commodities IPO bid date is from Mar 8, 2023 10.00 A.M. to Mar 13, 2023 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 5 PM on the issue closing day.
| Event | Tentative Date |
|---|---|
| Opening Date | Mar 8, 2023 |
| Closing Date | Mar 13, 2023 |
| Basis of Allotment | Mar 16, 2023 |
| Initiation of Refunds | Mar 17, 2023 |
| Credit of Shares to Demat | Mar 20, 2023 |
| Listing Date | Mar 21, 2023 |
Prospect Commodities IPO Lot Size
The Prospect Commodities IPO lot size is 2000 shares. A retail-individual investor can apply for up to 1 lots (2000 shares or ₹122,000).
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹122,000 |
| Retail (Max) | 1 | 2000 | ₹122,000 |
| HNI (Min) | 2 | 4,000 | ₹244,000 |
Prospect Commodities IPO Promoter Holding
Vimal Mishra and Priyanka Mishra are the Promoters of the Company.
| Pre Issue Share Holding | 88.44% |
| Post Issue Share Holding | 61.94% |
Prospect Commodities IPO Review
As a partnership firm, the company has reported listless performance for the previous three fiscals. Its FY23 earnings appear to have been window dressed to ask for fancy valuations. The issue is aggressively priced in context with reported super earnings. There is no harm in skipping this “High-risk/Low return” bet. Read detail review…
Prospect Commodities IPO Subscription Status (Bidding Detail)
The Prospect Commodities IPO is subscribed 2.69 times on Mar 10, 2023 12:54:00 PM. The public issue subscribed 0.87 times in the retail category, [.] times in the QIB category, and 4.51 times in the NII category. Check Day by Day Subscription Details (Live Status) Reload Subscription
| Category | Subscription (times) |
|---|---|
| NII | 4.51 |
| Retail | 0.87 |
| Total | 2.69 |
Total Application : 285 (0.98 times)
Prospect Commodities IPO Prospectus
Company Contact Information
Prospect Commodities Limited
417, Sun Orbit B/h. Rajpath Club Road,
Bodakdev,
Ahmedabad – 380054
Phone: 079-48000696
Email: info@prospectcommodities.com
Website: http://www.prospectcommodities.com/
Prospect Commodities IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://www.bigshareonline.com/