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All that you should know about the Company before applying for the IPO.
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.
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.
Sanjay Shah
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 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) |
| 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 |
| 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 |
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