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All that you should know about the Company before applying for the IPO.

May 09, 2022     

The public issue of equity shares of Prudent Corporate Advisory Services Limited will open for subscription on May 10, 2022 and closes on May 12, 2022. It is expected to list on the stock exchanges on May 23, 2022. What does the company do? Why is the company going public? Who are its key competitors? Its key strengths, and lot more. Here’s everything that you want to know about the company to analyse the IPO.

Company Profile

Incorporated in 2003, the Company is an independent retail wealth management services group in India and is amongst the top mutual fund distributors in terms of average Asset Under Management (AUM) and commission received. It 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. The Company also distributes life and general insurance products in India through its wholly owned subsidiary, Gennext.

The Company provides services through its network of distributors and branches in 110 locations in 20 states in India. As on 31-DEC-2021, its AUM from the mutual fund distribution business stood at ₹48,411.47 crore. The Company is associated as distributors with 42 Asset Management Companies and through Gennext associated with 11 Insurance companies.

Who are the Promoters of the Company?

Sanjay Shah

Positives about the Company

  • It is a growing financial products distribution platform
  • The Company has a granular retail AUM with a mix skewed towards high-yield equity AUM
  • Its value proposition has led to increased participation and long-standing relationship with MFDs
  • A track record of innovation and use of technology to improve investor and partner experience
  • Pan-India diversified distribution network with ability to expand into underpenetrated B-30 markets
  • It has demonstrated a consistent track record of profitable growth due to a highly scalable, asset-light and cash generative business model.
  • An experienced management team and is backed by a global investor

Who are its key competitors?

  • ICICI Securities Ltd.
  • HDFC Asset Management Company Ltd.
  • Nippon Life India Asset Management Ltd.
  • UTI Asset Management Company Ltd.
  • Central Depository Services (India) Ltd.
  • IIFL Wealth Management Ltd.
  • Computer Age Management Services Ltd.

Why is the Company going public?

Given below are the objectives of the Company –

Carry out the Offer for Sale

To achieve the benefits of listing the equity shares on the stock exchanges

The Offer is a 100% Offer for Sale issue. The Company will not receive any proceeds from the Offer for Sale and all proceeds from the Offer will go to the Selling Shareholders.


IPO Details

IPO Size ₹ 538.61 Crore *
Offer Mix 100% Offer For Sale
Price Band ₹ 595 - ₹ 630
Lot Size 23 Shares (& in multiples thereof)
Face Value ₹ 5
Application Amount Min. ₹ 14,490 (1 lot) | Max. ₹ 1,88,370 (13 lots) [at upper price band]
Listing on NSE & BSE
Registrar Link Intime India Private Limited
Discount ₹ 59 per equity share for Eligible Employees Category only
Cut-off time for UPI Mandate Confirmation 13-May-2022 (up to 12:00 PM)
* at upper price band

Category Wise Availability *

QIB ₹ 266.06 Crore
(50% of Net Issue Size)
NIB ₹ 79.82 Crore
(15% of Net Issue Size)
Retail ₹ 186.23 Crore
(35% of Net Issue Size)
Employee Reservation Portion ₹ 6.5 Crore
* at upper price band

Indicative Issue Timeline

Activity Date
IPO Opens May 10, 2022
IPO Closes May 12, 2022
Finalization of the basis of allotment May 18, 2022
Unblocking of funds / Initiation of refunds May 19, 2022
Credit of equity shares to Demat accounts May 20, 2022
Listing of equity shares May 23, 2022
Source: Company RHP
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