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07 March 2023

Prospect Commodities Ltd. IPO Date, Allotment, and All Details

Prospect Commodities Limited

Prospect Commodities Limited, founded in 2022, primarily trades "Agro Products" on a global scale. The organization was just formed as a company, formerly the operations were handled and controlled through the partnership firm under the name " M/s Fortune Exports ".

Mr. Vimal Mishra, the company's promoter and managing director, has over ten years of experience in various industries, which he uses to steer the company's growth in the right direction.

Cashew trading is Prospect Commodities Limited's line of work in the B2B market. The company offers cashews for sale to wholesalers in Gujarat. The cashews are contained in a 10 KG tin. The business purchases RCN (Raw Cashew Nuts) from Gujarat vendors who are also importing RCN from other nations and Kolam, Tuticorin, and Mangalore.

Prospect's products include different grades of cashews, which are primarily sold in Gujarat. The size and color of the cashew nuts determine these cashew classifications. The following premium grades of cashew are available from the company: W400, W320, W240, W210, and W180.

Cashew nuts are premium dry fruit that requires several processing steps before being packaged and sold. The nuts go through a number of procedures before they are delivered to the final consumer. The processes that Prospect Commodities Limited engages in are as follows:

1. Cleaning
2. Boiling and Cooling
3. De Shelling
4. Drying
5. Moisture and Peeling
6. Sorting
7. Drying
8. Grading
9. Manual Sorting and Grading
10. Drying before Dispatch
11. Packing and Dispatch

Financial Performance

Parameter	March 31, 2022 (in Rs. Lakhs)	November 30, 2022 (in Rs. Lakhs)
Total Assets	1.05	977.07
Total Revenue	0	839.98
Profit After Tax	-0.15	52.85

Objects of Prospect Commodities Limited

The primary objective of Prospect Commodities Limited IPO is to raise funds for the following purposes:

1. Making a payment Unsecured Loans.
2. Requirement for long-term working capital.
3. General corporate objectives.
4. Meeting Public Issue Expenses.

Prospect Commodities Limited IPO Details

IPO Date	Mar 08, 2023, to Mar 10, 2023
Allotment	Mar 15, 2023
Listing Date	Mar 20, 2023
Face Value	₹10 Per Equity Share
Issue Price	₹61 Equity Shares
Issue Size	1,226,000 Shares(INR ₹7.48 Crore)
Market Lot (min. Amt.)	2000 Shares (Rs. 1,22,000/-)
Listing on	BSE SME
Lead Manager	Interactive Financial Services Ltd.
Registrar	Bigshare Services Pvt. Ltd.

Company Promoters of Prospect Commodities Limited

The Promoters of Prospect Commodities Limited are:

1. Mr. Vimal Mishra

As per the Draft Red Herring Prospectus (DRHP) filed by the company with SEBI, the promoter group collectively holds 88.44% of the pre-issue paid-up equity share capital of the company. After the IPO, their shareholding in the company will reduce to 61.94% of the post-issue paid-up equity share capital.

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