Company
Profile
Commencing
its business in 2003, Prudent Corporate Advisory is an established
retail wealth management services company. Mutual Funds, General and
Life Insurance, Stock Broking, Gold Accumulation Plans, SIP in
Insurances, Asset Allocation & Trading Platforms are the products
& services rendered by it. Moreover, Prudent Advisory offers
Digital Wealth Management solutions with distinct platforms like
WiseBasket, CreditBasket, FundzBazar, PrudentConnect, Policyworld.
In
the AUM FY2021, Prudent Advisory stood amongst the top 10
distributors in the Asset Under Management. The company works in both
online & offline modes to provide investment and financial
servicing platforms.
Business
Information
The
company operates in 110 branches present in 20 states as of December
31, 2021, with the robust networking of 16,356 PIN codes PAN India.
It holds the retailer investors base of 13,51,274 through 23,262
branches situated in different cities. Adding further to it, Prudent
Advisory also works as a distributor with 42 AMCs, and has 1,067
employees, with portfolios of 35.05 lakhs and 15.25 lakh SIPs at the
moment
Facts
about the Company
Being
one of the largest independent retail wealth management service
companies, Prudent Advisory Services is also among the top mutual
fund distributor for the financial year 2021 (excluding banks &
brokers)
The
company earned Rs.1568.78 million premium in the year 2021
(post-covid-19) via 86,988 life & non-life insurance policies
and received the brokerage of Rs. 263.65 millions.
The
total number of AMFI Registration Number holders was 111,000 wherein
the company itself holds 17,583 in the year 2021 which was 15.84% of
the total.
Points
to note before investing in the Prudent Corporate Advisory Services
IPO
Prudent
Corporate Advisory operates in an underpenetrated Asset Management
Industry in India that is growing at a CAGR of more than 20%.
It
is one of the financial products platforms which is growing
independently.
The
company has a granular retail AUM with a mix skewed towards
high-yield equity AUM.
The
Mutual Fund Distributors have given phenomenal value proposition
which leads to building lasting relations with the investors.
It
believes in working on customer centricity with the use of
innovation and technology in real-time for a better experience for
the investors and partners.
The
strong network of diversified distribution on a PAN India level
gives it an ability to expand under under-penetrated B-30 markets.
Objective
of the IPO
The
company has majorly 2 objectives-
Provide
partial exit to the private equity firm
Avail
of the perks of listing the firm’s shares on the stock exchanges.
Benefits
to the Employees
The
discount offered to employees is Rs.59 per share. The Qualified
Institutional Investors can hold not more than 50% of the net offer,
the retail investors would hold up to 35% and the NII (HNI) can hold
up to 15% of the net offer.
Opening
Date | May
10, 2022 |
Closing
Date | May
12, 2022 |
Issue
Type | Book
Built Issue IPO |
Face
Value | ₹5
Per Equity Share |
Issue
Price | ₹595-630
Per Equity Share |
Lot
Size | 23
Shares |
IPO
Price | ₹538.61
Cr |
Listing
At | NSE,
BSE |
Allotment,
Listing & Refund Details
Finalization
of Basis of Allotment | May
18, 2022 |
Initiation
of Refunds | May
19, 2022 |
Credit
of Equity Shares | May
20, 2022 |
Listing
Date | May
23, 2022 |
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