Prudent Corporate Advisory IPO

Prudent Corporate Advisory Services Ltd.

₹13,685 /23 sharesMinimum Investment

Prudent Corporate Advisory IPO Listing Details

Listed OnIssue PriceListing PriceListing Gains
BSE & NSE₹630.00₹650.00₹20.00 (3.17%)

Prudent Corporate Advisory IPO Details

Bidding DatesMin. InvestmentLot SizePrice Range
10 May ‘22 - 12 May ‘22₹13,68523₹595 - ₹630
Issue SizeIPO Doc
538.00Cr
RHP PDF

Subscription Status As on 12 May '22, 5:00 PM

  • Retail Individual Investor
    1.29x
  • Non-Institutional Investor
    0.99x
  • Qualified Institutional Buyers
    1.26x
  • Employees
    1.23x
  • Total
    1.22x

About Prudent Corporate Advisory

Prudent Corporate Advisory is ​​a retail wealth management services group and mutual fund distributor. The company offers a technology-enabled, comprehensive investment and financial services platform with end-to-end solutions critical for financial products distribution and presence across both online and offline channels. It provides wealth management services to over 7.73 lakh unique retail investors through 17,583 Mutual Fund Distributors (MFDs). The company is spread across branches in 105 locations in 20 states in India, as of May 31, 2021. ;
Parent Organisation
Prudent Corporate Advisory Services Ltd.
Founded
2003
Managing Director
Sanjay Shah

Strengths & Risks

  • A pan-India diversified distribution network.
  • One of the largest and fastest-growing financial products distribution platforms, as per a report by CRISIL*.
  • Long-standing relationship with mutual fund distributors.
  • High potential industry - the Indian asset management industry has grown at a CAGR of more than 20% (as per CRISIL report*).
  • Average Assets Under Management (AAUM) has grown at a CAGR of 32.5% to Rs 24,910 crore in the five year period from Fiscal 2016 to Fiscal 2021.
  • A 12% market share within the national distributor segment on AAUM basis as of Fiscal 2021 (Source: CRISIL Report).
  • As of May 31, 2021, the company had an Assets Under Management (AUM) of Rs 33,316 crore and was among the largest national distributors (non-bank).
  • Direct investments in mutual funds by existing as well as potential clients will have an adverse impact on revenue from mutual fund distribution.
  • Outstanding litigation against the company and its subsidiaries, which if determined adversely, could affect the business and results of operations.
  • Company has undertaken and may continue to undertake strategic investments and alliances, acquisitions and mergers in the future, which may be difficult to integrate and manage.
  • Any reduction in commission or brokerage of other financial products could have adverse effect on the business.
  • The company has in the past entered into related party transactions and may continue to do so in future.
  • Promoter and Promoter Group will continue to have a significant shareholding in the company after the IPO.
  • This IPO consists of an Offer for Sale by the Selling Shareholders - the company will not receive any proceeds.
  • Business operations in a highly regulated environment that is subject to change, and existing and new laws.
  • Any inability to retain Mutual Fund Distributors (MFDs) may adversely affect the business and results of operations.
  • Competition from existing and new market participants
  • * The company commissioned and paid for an industry report from CRISIL Limited specifically for the purpose of the IPO.

Financials

*All values are in Rs. Cr
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