Prospect Commodities Limited

Company Profile
Company Name Prospect Commodities Limited
Open Date 08-03-2023
Close Date 10-03-2023
Exchange BSE SME
Lot Size 2000 Shares
Issue Price ₹ 61 per share
Issue Size 12,26,000 Equity Shares
Application Amount ₹ 1,22,000
Recommendation Avoid
Prospect Commodities Limited was incorporated in the year 2022 in Gujarat. The Company had taken over the running business of partnership firm “M/s Fortune Exports” on 1st April, 2022. In the year F.Y. 2021, the partnership firm had started the cashew processing plant of 150 ton per annum nearby Ahmedabad. The Company is in the business of trading of cashew in to B2B Market. The Company is selling the Cashew to the wholesalers in the state of Gujarat only. The Company had instead of importing the RCN (Raw Cashew Nut) from other countries, which require to import in larger quantity and blocking of the Working Capital Fund, started buying the RCN from Gujarat who are importing from other countries and also from Kolam, Tuticorin and Mangalore. Company’s product includes Cashews of different grades and packed in 10 KG tin pack. The cashew husk which is after processing RCN is also by product and the same is also sold to Tannery Industries by the Company. Company also sells Cashew Nut shell which is the basic raw material to produce CNSL Oil.
(Read more on the review)

Summary of Financials (All financials in lakhs)

For the Period Ended Nov-22 Mar-22 Mar-21
Total Assets 977.07 1.05 -
Net Assets 293.70 0.85 -
Total Borrowings 363.56 0.05 -
Total Revenue 839.98 0 -
Profit After Tax 52.85 (0.15) -

Tentative Timeline

Opening Date 08-03-2023
Closing Date 10-03-2023
Basis of Allotment 16-03-2023
Initiation of Refunds 17-03-2023
Credit of Shares to Demat 20-03-2023
Listing Date 20-03-2023

Objects of the Issue

Repayment of Unsecured Loans;
Long-term working capital requirement;
General Corporate Purpose;
Meeting Public Issue Expenses.

Contact Information

Registered Office Prospect Commodities Limited 417, Sun Orbit B/h. Rajpath Club Road, Bodakdev, Ahmedabad - 380054.
Phone 079-48000696

Registrar Details

Name Bigshare Services Pvt Ltd
Phone 91-22-6263 8200

IPO Reservation

Market Maker Shares Offered 62,000 (5.06%)
Other Shares Offered 5,82,000 (47.47%)
Retail Shares Offered 5,82,000 (47.47%)
Total Shares Offered 12,26,000 (100%)

Shareholding Pattern

Share Holding Pre Issue (Promoters) 88.44%
Share Holding Post Issue (Promoters) 61.94%

Contact Us to Enable Your Success!