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Prudent Corporate Advisory Services Limited IPO (Prudent Corporate Advisory Services IPO) Detail

May 10, 2022 - May 12, 2022

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 Financials:

Summary of financial Information (Restated Consolidated)
Particulars For the year/period ended (₹ in million)
31-Dec-21 31-Mar-21 31-Mar-20 31-Mar-19
Total Assets 3,873.40 2,849.30 1,960.75 1,932.15
Total Revenue 3,279.98 2,948.96 2,362.20 2,250.58
Profit After Tax 576.28 452.97 278.53 210.19

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 IPO Details

Prudent Corporate Advisory Services IPO Date May 10, 2022 to May 12, 2022
Prudent Corporate Advisory Services IPO Face Value ₹5 per share
Prudent Corporate Advisory Services IPO Price ₹595 to ₹630 per share
Prudent Corporate Advisory Services IPO Lot Size 23 Shares
Issue Size8,549,340 shares of ₹5
(aggregating up to ₹538.61 Cr)
Offer for Sale8,549,340 shares of ₹5
(aggregating up to ₹538.61 Cr)
Employee Discount Rs 59 per share
Issue Type Book Built Issue IPO
Listing At BSE, NSE
QIB Shares OfferedNot more than 50% of the Net Offer
Retail Shares OfferedNot less than 35% of the Net Offer
NII (HNI) Shares OfferedNot less than 15% of the Net Offer
Company Promoters

Sanjay Shah is the company promoter.

Prudent Corporate Advisory Services IPO Timeline (Tentative Timetable)

Prudent Corporate Advisory Services IPO opens on May 10, 2022, and closes on May 12, 2022. The Prudent Corporate Advisory Services IPO bid date is from May 10, 2022 10.00 A.M. to May 12, 2022 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.

Event Date
Prudent Corporate Advisory Services IPO Opening Date May 10, 2022
Prudent Corporate Advisory Services IPO Closing Date May 12, 2022
Basis of Allotment May 18, 2022
Initiation of Refunds May 19, 2022
Credit of Shares to Demat May 20, 2022
Prudent Corporate Advisory Services IPO Listing Date May 20, 2022

Prudent Corporate Advisory Services IPO Lot Size

The Prudent Corporate Advisory Services IPO lot size is 23 shares. A retail-individual investor can apply for up to 13 lots (299 shares or ₹188,370).

Application Lots Shares Amount
Minimum 1 23 ₹14,490
Maximum 13 299 ₹188,370

Prudent Corporate Advisory Services IPO Promoter Holding

Pre Issue Share Holding 56.78%
Post Issue Share Holding 56.78%

Prudent Corporate Advisory Services IPO Review

PCASL is operating in a competitive field and the IPO is fully priced based on its super earnings. The sustainability of such margins in bad times raises concern as its future prospects hinge on market behaviour. Cash surplus/risk seeker investors may consider a moderate investment with a long-term perspective. Read detail review...

New Prudent Corporate Advisory Services IPO Recommendation by Members

Prudent Corporate Advisory Services IPO Recommendations Details | Post Recommendation | Manage Recommendations

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Prudent Corporate Advisory Services IPO Subscription Status (Bidding Detail)

The Prudent Corporate Advisory Services IPO is subscribed 1.22 times on May 12, 2022 5:00:00 PM. The public issue subscribed 1.29 times in the retail category, 1.26 times in the QIB category, and 0.99 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)
QIB1.26
NII0.99
Retail1.29
Employee1.23
Total1.22

Prudent Corporate Advisory Services IPO Rating

352
3.4
Rating:Rated 3.4 stars
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Prudent Corporate Advisory Services IPO Listing Date

Listing Date Friday, May 20, 2022
BSE Script Code 543527
NSE Symbol PRUDENT
Listing In B Group of Securities
ISIN INE00F201020
IPO Price ₹630 per share
Face Value ₹5 per share

Listing Day Trading Information

.
IPO Price
Open
Low
High
Last Trade
BSE
₹630.00
₹660.00
₹541.15
₹660.00
₹562.70
NSE
₹630.00
₹650.00
₹541.00
₹650.00
₹561.75

Company Contact Information

Prudent Corporate Advisory Services Limited
Prudent House, 3 Devang Park Society,
Panjarapole Cross Road,
Ambawadi, Ahmedabad-380 015
Phone: +91 79 4020 9600
Email: cs@prudentcorporate.com
Website: https://www.prudentcorporate.com/

Prudent Corporate Advisory Services IPO Registrar

Link Intime India Private Ltd

Phone: +91-22-4918 6270
Email: prudent.ipo@linkintime.co.in
Website: https://linkintime.co.in/

Prudent Corporate Advisory Services IPO FAQs

Prudent Corporate Advisory Services IPO is a main-board IPO of 8,549,340 equity shares of the face value of ₹5 aggregating up to ₹538.61 Crores. The issue is priced at ₹595 to ₹630 per share. The minimum order quantity is 23 Shares.

The IPO opens on May 10, 2022, and closes on May 12, 2022.

Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Zerodha customers can apply online in Prudent Corporate Advisory Services IPO using UPI as a payment gateway. Zerodha customers can apply in Prudent Corporate Advisory Services IPO by login into Zerodha Console (back office) and submitting an IPO application form.

Steps to apply in Prudent Corporate Advisory Services IPO through Zerodha

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the 'Prudent Corporate Advisory Services IPO' row and click the 'Bid' button.
  4. Enter your UPI ID, Quantity, and Price.
  5. ‘Submit’ IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

Visit Zerodha IPO Application Process Review for more detail.

The Prudent Corporate Advisory Services IPO opens on May 10, 2022 and closes on May 12, 2022.

Prudent Corporate Advisory Services IPO lot size is 23 Shares and the minimum order quantity is .

You can apply in Prudent Corporate Advisory Services IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for Prudent Corporate Advisory Services IPO will be done on May 18, 2022, and the allotted shares will be credited to your demat account by May 20, 2022. Check the Prudent Corporate Advisory Services IPO allotment status.

The Prudent Corporate Advisory Services IPO listing date is on Friday, May 20, 2022.
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Prudent Corporate Advisory Services IPO Message Board

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