Prudent Corporate Advisory Services’ initial public offer (IPO) will open for subscription on May 10th, 2022, and close on May 12th, 2022. The wealth management services provider is looking to raise Rs.531 crores through the IPO. In this Prudent Corporate Advisory IPO review, we will take a look at the GMP, Profit after tax, Important dates and more!

About Prudent Corporate Advisory

Founded in 2003, Prudent Corporate Advisory Services Ltd. is a company which provides retail wealth management services. The company operates through its platforms namely FundzBazar, PrudentConnect, Policyworld, WiseBasket and CreditBasket.

The products which they deal in include Mutual funds, insurance which also includes SIP with insurance, stockbroking and services including trading platforms. They also assist in gold accumulation and asset allocation plans. 

Prudent Corporate Advisory - Total Assets

The company has achieved significant success over the years distributing these financial products over the years both through online and offline channels. The company has a network of up to 23,262 B2B2C which is spread across 110 branches across 20 Indian states.

In addition to this, they have also been associated with over 42 other asset management companies as their distributors.

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Prudent Corporate Advisory - Profit after tax

The company ranked among the top ten mutual fund distributors in terms of average assets under management for FY 2020-21.  As of December 2021,  Prudent Corporate Advisory had offered its wealth management services to over 13 lakh investors.

The company is already one of India leading financial services groups and is also one of the fastest-growing. This is further accentuated by the fact that they are present in an underpenetrated segment where many Indians do not have access to these services.

Another important aspect to make note of is the Indian asset management industry has grown at a CAGR of more than 20%.

Prudent Corporate Advisory IPO – Grey Market Information

Shares of Campus Activewear traded at a 4.7% premium on May 8th. The shares were trading at Rs 660. This gives a premium of Rs 30 over the cap price of Rs 630.

Key IPO Information

Sanjay Shah is the promoter of Prudent Corporate Advisory Services Ltd. The company has appointed ICICI Securities Limited, Axis Capital Limited and Equirus Capital Pvt Ltd has been appointed as the lead managers to the issue. Link Intime India Private Ltd has been appointed as the registrar for the IPO.

ParticularsDetails
IPO Size₹538.61 Cr
Fresh Issue---
Offer for Sale (OFS)₹538.61 Cr
Opening dateMay 10, 2022
Closing dateMay 12, 2022
Face Value₹5 per share
Price Band₹595 to ₹630 per share
Lot Size23 Shares
Minimum Lot Size1 (23 shares)
Maximum Lot Size13 (299 shares)
Listing DateMay 23, 2022

Purpose of the IPO 

The Company has decided to Opt for an IPO for an Offer for Sale. The company will not receive any proceeds from the IPO. 

In Closing 

In this article, we covered the Prudent Corporate Advisory Services Ltd IPO Review. The Initial Public Offering opens on May 10th and closes on May 12th. However, the company will not be receiving any proceeds from the IPO as it is an offer for sale.

For investors, it can be a good opportunity to look into the company and apply for the IPO after analysing the prospects and strengths. Let us know what you think about the Campus Activewear IPO review in the comments below? Happy Investing!

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