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Prudent Corporate Advisory Services Limited IPO Detail

Prudent Corporate Advisory Services Limited IPO Detail

Incorporated in 2003, Prudent Corporate Advisory Services Limited provides retail wealth management services. The company offers Mutual Fund products, Life and General Insurance solutions, Stock Broking services, SIP with Insurance, Gold Accumulation Plan, Asset Allocation, and Trading platforms.

The company offers digital wealth management (DWM) solutions through platforms, namely, FundzBazar, PrudentConnect, Policyworld, WiseBasket and CreditBasket.

Prudent Corporate Advisory Services provides investment and financial services platforms for the distribution of financial products through online and offline channels. Prudent Corporate Advisory Services is amongst the top 10 mutual fund distributors in terms of average assets under management AUM as of FY21.

As of December 31, 2021, Prudent Corporate Advisory Services provided wealth management services to 13,51,274 unique retail investors through 23,262 channel partners on the business-to-business-to-consumer (B2B2C) network, which is spread across 110 branches in 20 Indian states. The company is also associated as a distributor with 42 AMCs.

Prudent Corporate Advisory Services Limited is one of India's leading independent and fastest-growing financial services groups. The company has built a nationwide network, servicing 16,356 PIN codes. Prudent Corporate Advisory Services has 1,067 employees strength, 35.05 lakhs live folios and 15.25 lakhs live SIPs as of December 31, 2021.

Competitive Strengths:

  • The company operate in an underpenetrated Indian asset management industry, that has grown at a CAGR of more than 20%.
  • Growing independent financial products distribution platforms.
  • The company have a granular retail AUM with a mix skewed towards high-yield equity AUM.
  • The value proposition has led to increased participation and a long-standing relationship with MFDs.
  • The company have a track record of innovation and use of technology to improve investor and partner experience.
  • Pan-India diversified distribution network with the ability to expand into underpenetrated B-30 markets.

Company Promoters

Sanjay Shah is the company promoter.

IPO Details

IPO Opening DateMay 10, 2022
IPO Closing DateMay 12, 2022
Issue TypeBook Built Issue IPO
Face Value₹5 per equity share
IPO Price ₹595 - 630 per equity share
Market Lot23 Shares
Min Order Quantity23 Shares
Listing AtBSE, NSE
Issue Size₹538.61 Cr
Fresh Issue-
Offer for Sale8,549,340 shares of ₹5 (aggregating up to ₹[.] Cr)
Employee Discount₹Rs 59 per share
Retail Portion 35%

IPO Subscription (Bidding Detail)

Day 1 0x 0.02x 0.72x 0.36x - 0.37x
Day 2 0x 0.18x 1.04x 0.67x - 0.57x
Day 3 1.25x 1x 1.29x 1.22x - 1.22x

IPO Tentative Timetable

The Prudent Corporate Advisory Services Limited IPO open date is May 10, 2022, and the close date is May 12, 2022. The issue may list on May 20, 2022.

IPO Open DateMay 10, 2022
IPO Close DateMay 12, 2022
Basis of Allotment DateMay 18, 2022
Initiation of RefundsMay 19, 2022
Credit of Shares to Demat AccountMay 19, 2022
IPO Listing DateMay 20, 2022

IPO Lot Size

The Prudent Corporate Advisory Services Limited IPO market lot size is 23 shares. A retail-individual investor can apply for up to 13 lots (299 shares or ₹188370).

ApplicationLotsSharesAmount (Cut-off)

IPO Promoter Holding

Pre Issue Share Holding56.78%
Post Issue Share Holding56.78%

Company Financials:

For the year/period ended (₹ in Millions)

Financial Year Total Assets Total Revenue Profit After Tax
31-Dec-21 3,873.40 3,279.98 576.28
31-Mar-21 2849.30 2948.96 452.97
31-Mar-20 1960.75 2362.20 278.53
31-Mar-19 1932.15 2250.58 210.19

Objects of the Issue:

The company will not receive any proceeds from the Offer and all such proceeds will go to the Selling Shareholders.

Prudent Corporate Advisory Services Limited IPO Registrar:

Link Intime India Private Ltd

Prudent Corporate Advisory Services Limited IPO Lead Manager(s):

ICICI Securities Limited, Axis Capital Limited, Equirus Capital Private Limited.

Company Contact Information:

Prudent Corporate Advisory Services Limited

Prudent House, 3 Devang Park Society,

Panjarapole Cross Road, Ambawadi, Ahmedabad-380 015