Prudent Corporate Advisory IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: May 20, 2022Prudent Corporate Advisory Services Limited is among India’s leading independent retail wealth management services groups. It is also a top mutual fund distributor in terms of average assets.
Prudent Corporate IPO is all set to open on May 10, 2022. The IPO is an Offer for Sale where the shareholders will be offloading their shares.
Prudent Corporate IPO Review will cover all the aspects of this upcoming IPO and provide all the information to you comprehensively.
| Face Value | Rs 5 |
| Price Band | Rs.595 to Rs.630 |
| Listing At | BSE, NSE |
| Min. Order Quantity | 30 Shares |
| Listing Date | May 24, 2022 |
| Offer for Sale | Not Disclosed |
| Fresh Issue | Not Disclosed |
| IPO Size | Rs.538.61 Crore |
| Tick Size | 1 |
Prudent Corporate Advisory IPO Overview
Prudent Corporate IPO is a leading entity in its sphere and has made a reputation throughout its operations. The IPO consists of an Offer for Sale for up to 8,549,340 Equity Shares.
There is no fresh issue in the IPO. Therefore no new shares will be issued by the company.
The IPO will open on May 9 for Anchor Investors, and the public bid offer will open on May 10 and remain open till May 12. During this duration, investors can apply for an IPO.
Prudent Corporate Advisory IPO Important Dates
| Events | Date |
| IPO Opening Date | May 10, 2022 |
| IPO Closing Date | May 12, 2022 |
| Basis of Allotment Finalization | May 18, 2022 |
| Refunds Initiation | May 19, 2022 |
| Credit of Shares to Demat Account | May 20, 2022 |
| Share Listing Date | May 23, 2022 |
Prudent Corporate Advisory Services Limited applied to SEBI for approval regarding the Draft Red Herring Prospectus in August 2021.
After receiving the SEBI approval, Prudent Corporate filed the Red Herring Prospectus on May 2. The IPO will be open for application from the public from May 10 – to May 12.
Also, the Anchor Investor application will open on May 9. The company’s shares will be listed on the stock exchange on May 23, 2022.
Prudent Corporate Advisory IPO Price, Size, Share Offerings
| Face Value | Rs.5 |
| Price Band | Rs.595 to Rs.630 |
| Offer for Sale | Not Disclosed |
| Fresh Issue | Not Disclosed |
| IPO Size | Rs.538.61 Crore |
Prudent Corporate IPO Size comprises the 8,549,340 Equity Shares offered through Offer for Sale. Prudent Corporate IPO Price will be determined through the book-building process.
The face value of the offered shares is Rs. 5 per share. The price band for the bidding is Rs. 595 to Rs. 630 per share, and the lot size will be 23 shares.
Further, the shares will be credited in the Demat accounts of the successful bidders on May 20, 2022.
Prudent Corporate Advisory IPO Grey Market Premium
| Date | GMP (Rs.) | Kostak Rate (Rs.) | Subject to Sauda (Rs.) |
| 20th May 2022 | (Rs.5) | Rs.250 | Rs.500 |
| 19th May 2022 | Rs.20 | Rs.250 | Rs.500 |
| 18th May 2022 | Rs.20 | Rs.250 | Rs.500 |
| 17th May 2022 | Rs.20 | Rs.250 | Rs.500 |
| 16th May 2022 | Rs.15 | Rs.250 | Rs.500 |
| 13th May 2022 | NA | Rs.250 | Rs.500 |
| 12th May 2022 | Rs.30 | Rs.250 | Rs.500 |
| 11th May 2022 | Rs.25 | Rs.250 | Rs.500 |
| 10th May 2022 | Rs.35 | Rs.250 | Rs.500 |
| 9th May 2022 | Rs.30 | Rs.250 | Rs.500 |
| 7th May 2022 | Rs.30 | NA | Rs.500 |
| 6th May 2022 | Rs.35 | NA | Rs.500 |
| 5th May 2022 | Rs.25 | NA | NA |
| 4th May 2022 | Rs.35 | NA | NA |
| 3rd May 2022 | Rs.30 | NA | NA |
As the IPO of Prudent Corporate is approaching to hit the market next week, the Prudent Corporate IPO GMP is going to assist the investors in predicting the listing price and bid on the IPO accordingly.
The Grey Market Premium plays a vital role in evaluating the success of an IPO. The IPO will open on May 10.
Prudent Corporate Advisory IPO Subscription Status
| Day / Date | QIB | NII | Retail | EMP | Total subscription |
|---|---|---|---|---|---|
| 1st Day – 10th May | 0.00x | 0.02x | 0.72x | 0.35x | 0.36x |
| 2nd Day – 11th May | 0.00x | 0.19x | 1.05x | 0.67x | 0.57x |
| 3rd Day – 12th May | 1.26x | 0.99x | 1.29x | 1.23x | 1.22x |
| Shares Offered or Net Issue | 1,687,101 | 1,265,326 | 2,952,427 | 113,835 | 6,018,689 |
The IPO of one of the leading investment and financial service providers, Prudent Corporate, is Live now. The company will receive the applications for the IPO allotment from May 10 to May 12.
The investors will bid in lots and within the price band of Rs. 595 – Rs. 630.
You can also apply for a Prudent Corporate IPO Subscription online through the ASBA process. And retail investors can apply through the UPI mechanism.
Prudent Corporate Advisory IPO Allotment Status
Prudent Corporate IPO Allotment of shares will occur on May 20, 2022.
The company will finalize the basis of allotment of the IPO on May 18, 2022, and will proceed with the refund to the bidders who are not allotted shares on May 19, 2022.
The shares will be credited on May 20, 2022, in the Demat accounts of the successful bidders.
Prudent Corporate Advisory IPO Live Performance
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Latest Prudent Corporate Advisory IPO News
Prudent Corporate Advisory Services Limited has filed the Red Herring Prospectus (RHP) and is opening the IPO on May 10. The Prudent Corporate IPO is entirely an Offer for Sale IPO offer.
The price band of the IPO is Rs. 595 – Rs. 630. The shares of the company will be listed on BSE and NSE.
Prudent Corporate Advisory – Company Review
Prudent Corporate Advisory Services Limited kicked off its journey in the year 2003. The company is based in Ahmedabad, Gujarat.
Prudent Corporate is backed by TA Associates, a US-based private equity investor.
The company offers its services technology-enabled, comprehensive investment and financial services platform. It offers end-to-end solutions essential for financial product distribution. It has a presence across online and offline channels for easy access.
Prudent Corporate caters to wealth management requirements of over 13,51,274 retail investors with the help of 23,262 MFDs.
Products or Services
Prudent Corporate is the fastest-growing financial service provider. The company is an integrated wealth management service provider.
The services offered by Prudent Corporate include Mutual Funds, Insurance, Stock Broking, Fixed Income Products, Property, and Loan facilities.
It is a diversified entity catering to various needs under one roof with the right set of resources.
The company’s platform is seamless and offers new-age quick solutions to the users. The highly efficient team of the entity helps its customers in every possible way.
Promoters and Holding
The Promoter of Prudent Corporate Advisory Services Limited is Sanjay Shah.
The management of the company consists of:
- Sanjay Shah, in the position of Chairman and Managing Director
- Shirish Patel, in the position of Whole-time Director and Chief Executive Officer
- Chirag Shah, in the position of Whole-time Director
- Dhiraj Poddar, in the position of Non-executive Director
- Deepak Sood, in the position of Independent Director
- Karan Kailash Datta, in the position of Independent Director
- Shilpi Thapar, in the position of Independent Director
- Aniket Talati, in the position of Independent Director
- Chirag Kothari, in the position of Chief Financial Officer
Dhavalkumar Ghetia, in the position of Company Secretary and Compliance Officer
Is Prudent Corporate Advisory good for Investment?
The nearly two-decade-old company, Prudent Corporate Advisory Services Limited, offers a variety of services to retail investors. The solutions of the entity are innovative and suit the requirements of its clients.
They are serving lakhs of customers and are connecting to new customers who are eager to join.
The business of Prudent Corporate primarily revolves around Mutual Fund distribution, among other financial products.
Other company facilities are portfolio management schemes, unlisted equities, loans against securities, structured products, corporate fixed deposits, stockbroking solutions, etc.
Prudent Corporate provides its wealth management solutions through PrudentConnect, CreditBasket, FundzBazar, WiseBasket, Policyworld, and Prubazar.
Prudent Corporate Advisory Financial Statements
| Amount (in INR & Million) | ||||
| 31-Dec-21 | Mar-21 | 31-Mar-20 | 31-Mar-19 | |
| Assets | 3,873.40 | 2,849.30 | 1,960.75 | 1,932.15 |
| Revenue | 3,279.98 | 2,948.96 | 2,362.20 | 2,250.58 |
| Expense | 2,503.06 | 2,343.72 | 1,987.86 | 1,944.87 |
| Profit After Tax | 576.28 | 452.97 | 278.53 | 210.19 |
As per the RHP, the total income of Prudent Corporate for the years 2019, 2020, and 2021 were – 2,250.58 million, 2,362.20 million, and 2,948.96 million, respectively.
The profits for 2019, 2020, and 2021 were – 286.53 million, 374.34 million, and 605.24 million, respectively.
The company’s total income for the three quarters of the financial year 2021-22 was 3,279.98 million, and it clocked a profit of 776.92 million for the same period.
| Earnings per Equity Share (in Million) | ||||
| 31-Dec-21 | Mar-21 | 31-Mar-20 | 31-Mar-19 | |
| Basic & Diluted | 13.94 | 10.96 | 6.74 | 5.08 |
The EPS of the company is also increasing positively with every year. The company’s EPS for the year ended March 31, 2021, was Rs. 10.96.
The nine months of the financial year 2021, which ended December 31, 2021, stood at Rs. 13.94.
Prudent Corporate Advisory IPO Review
Prudent Corporate IPO is proposed to affect the sale of 8,549,340 equity shares having a face value of Rs. 5 each and to attain the advantages of listing on the stock exchange.
The IPO will help the company reach its clientele easily and become more visible in the market. The company will be subject to the listing regulations and obligations of SEBI.
The selling shareholders will be entitled to the proceeds of the IPO, and the company will not be receiving any of the sums.
Prudent Corporate Advisory IPO Details
Here are few more details you need to know before investing in Prudent Corporate Advisory IPO –
Prudent Corporate Advisory IPO Issue Object
Prudent Corporate Advisory has proposed diverse objectives for making the IPO offer and some of the objectives are:
- Utilisation of the Offer Proceeds by Selling Shareholders
- Offer expenses
Prudent Corporate Advisory IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- They operate in an underpenetrated Indian asset management industry, that has grown at a CAGR of more than 20%.
- They are a growing financial products distribution platform.
- Also, they have a granular retail AUM with a mix skewed towards high-yield equity AUM.
- Their value proposition has led to increased participation and long-standing relationship with MFDs.
- They have a track record of innovation and use of technology to improve investor and partner experience.
- They have a pan-India diversified distribution network with ability to expand into underpenetrated B-30 markets.
- Also, they have demonstrated a consistent track record of profitable growth due to a highly scalable, asset-light and cash generative business model.
- They have an experienced management team and are backed by a global investor
Quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-21 | 10.96 | 28.73 | 38.13 |
| 31-Mar-20 | 6.74 | 24.75 | – |
| Mar-19 | 5.08 | 25.30 | – |
Prudent Corporate Advisory IPO Lead Managers
Here are the list of Lead managers –
- ICICI Securities Limited
- Axis Capital Limited
- Equirus Capital Private Limited
Prudent Corporate Advisory IPO Registrar to offer
Check out the details of registrar here –
Link Intime India Private Limited
C 101, 247 Park L.B.S. Marg, Vikhroli (West),
Mumbai 400 083, Maharashtra
Tel: +91 22 4918 6200
E-mail: prudent.ipo@linkintime.co.in
Investor grievance e-mail: prudent.ipo@linkintime.co.in Website:
www.linkintime.co.in Contact person: Shanti Gopalkrishnan
SEBI registration number: INR000004058
Prudent Corporate Advisory IPO – Other Details
- Statutory Auditor – Deloitte Haskins & Sells
- Legal Counsel to the Company – J. Sagar Associates
- Bankers to the Company – Axis Bank Limited,
Prudent Corporate Advisory IPO Verdict by Stock Brokers
Prudent Corporate Advisory offers a financial services platform to its customers, catering to the online and offline distribution of financial goods.
In FY21, the company ranked among the top ten mutual fund distributors on account of average assets under management (AUM).
Prudent has extended its services in 16,356 pin codes with a strong presence at 110 locations in 20 states. As per various reliable review websites and experts, Prudent Corporate Advisory IPO is worth applying.
The company reported a positive operating flow for the past financial year and has been operating in a growing industry.
Over time, the company has immense opportunities to scale up its business with its mutual funds’ distribution.
Prudent Corporate Advisory IPO – Conclusion
The Prudent Corporate is essentially a benefitting company. It has a vast customer base, and it has a wide offering to cater to the requirement of all types of investors.
The financial products offered by the company are offered through a technology-based platform.
Investors may invest in the IPO as the company is profitable and has an impressive EPS, and can add value to your investment portfolio.
To Subscribe to Prudent Corporate Advisory IPO – Open Demat Account Now!
Prudent Corporate Advisory IPO Review FAQs
Check out the FAQs on Prudent Corporate Advisory IPO –
What is the Issue Size of Prudent Corporate Advisory IPO?
The Company is making an initial public offer of 8,549,34 equity shares. They vividly portray the aspects of the issue in this article.
You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of Prudent Corporate Advisory IPO?
The price band for this particular IPO ranges between Rs.595 to Rs.630. As far as the face value of the share is of concern, it is Rs.5 per share.
What is the Prudent Corporate Advisory IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on May 10, 2022, while the closing date is set at May 12, 2022.
What is the Prudent Corporate Advisory IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO.
Basis of Allotment finalization is on May 18, 2022, refund initiation is on May 19, 2022, credit of shares is on May 20, 2022, and share listing date is on May 23, 2022.
What is the Prudent Corporate Advisory IPO Listing Date?
Shares of this company shall be listed in the exchanges May 23, 2022. The date, when the listing would be done, is stagnant on May 23, 2022.
Who is the Registrar of Prudent Corporate Advisory IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. Link Intime India Private Limited. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Prudent Corporate Advisory IPO?
Here are the promoters of this IPO – SANJAY SHAH. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of Prudent Corporate Advisory IPO?
They have obtained the GMP of this IPO and it is (Rs.5). Further insights of Kostak rate and subject to sauda or SS are as well included in this report.
Is Prudent Corporate Advisory IPO good for Investment?
They have further provided the financial status of the company in this article, from the past few years.
You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Prudent Corporate Advisory Company?
They have the information of company financials, and according to that, they have the figures from the last few years to provide.
PAT for the financial year 2021 in Million is 452.97, 2020 is 278.53, 2019 is 210.19. PAT from Dec 2021 is 576.28.
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