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Prudent Corporate Advisory Services IPO

Prudent Corporate Advisory Services Limited Logo

Prudent Corporate Advisory Services (IPO) Incorporated in 2003, They provides retail wealth management services. The company offers Mutual Fund products, Life and General Insurance solutions, Stock Broking services, SIP with Insurance, Gold Accumulation Plan, Asset Allocation, and Trading platforms.

The company offers digital wealth management (DWM) solutions through platforms, namely, FundzBazar, PrudentConnect, Policyworld, WiseBasket and CreditBasket.

Prudent Corporate Advisory Services provides investment and financial services platforms for the distribution of financial products through online and offline channels. Prudent Corporate Advisory Services is amongst the top 10 mutual fund distributors in terms of average assets under management AUM as of FY21.

As of December 31, 2021, Prudent Corporate Advisory Services provided wealth management services to 13,51,274 unique retail investors through 23,262 channel partners on the business-to-business-to-consumer (B2B2C) network, which is spread across 110 branches in 20 Indian states. The company is also associated as a distributor with 42 AMCs.

Prudent Corporate Advisory Services Limited is one of India’s leading independent and fastest-growing financial services groupsThe company has built a nationwide network, servicing 16,356 PIN codes. Prudent Corporate Advisory Services has 1,067 employees strength, 35.05 lakhs live folios and 15.25 lakhs live SIPs as of December 31, 2021.

Competitive Strengths:

  • The company operate in an underpenetrated Indian asset management industry, that has grown at a CAGR of more than 20%.
  • Growing independent financial products distribution platforms.
  • The company have a granular retail AUM with a mix skewed towards high-yield equity AUM.
  • The value proposition has led to increased participation and a long-standing relationship with MFDs.
  • The company have a track record of innovation and use of technology to improve investor and partner experience.
  • Pan-India diversified distribution network with the ability to expand into underpenetrated B-30 markets.

Company Financials:

ParticularsFor the year/period ended (₹ in million)
Total Assets3,873.402,849.301,960.751,932.15
Total Revenue3,279.982,948.962,362.202,250.58
Profit After Tax576.28452.97278.53210.19

Objects of the Issue:

The company will not receive any proceeds from the Offer and all such proceeds will go to the Selling Shareholders.

Prudent Corporate Advisory Services IPO Details

Prudent Corporate Advisory Services IPO DateMay 10, 2022 to May 12, 2022
Prudent Corporate Advisory Services IPO Face Value₹5 per share
Prudent Corporate Advisory Services IPO Price₹595 to ₹630 per share
Prudent Corporate Advisory Services IPO Lot Size23 Shares
Issue Size8,549,340 shares of ₹5
(aggregating up to ₹538.61 Cr)
Offer for Sale8,549,340 shares of ₹5
(aggregating up to ₹[.] Cr)
Employee DiscountRs 59 per share
Issue TypeBook Built Issue IPO
Listing AtBSE, NSE
QIB Shares OfferedNot more than 50% of the Net Offer
Retail Shares OfferedNot less than 35% of the Net Offer
NII (HNI) Shares OfferedNot less than 15% of the Net Offer
Company PromotersSanjay Shah is the company promoter.

IPO Timeline

IPO opens on May 10, 2022, and closes on May 12, 2022. The Prudent Corporate Advisory Services IPO bid date is from May 10, 2022 10.00 A.M. to May 12, 2022 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.

Prudent Corporate Advisory Services IPO Opening DateMay 10, 2022
Prudent Corporate Advisory Services IPO Closing DateMay 12, 2022
Basis of AllotmentMay 18, 2022
Initiation of RefundsMay 19, 2022
Credit of Shares to DematMay 20, 2022
Prudent Corporate Advisory Services IPO Listing DateMay 23, 2022

IPO Lot Size

The IPO lot size is 23 shares. A retail-individual investor can apply for up to 13 lots (299 shares or ₹188,370).


IPO Promoter Holding

Pre Issue Share Holding56.78%
Post Issue Share Holding

IPO Prospectus

Company Contact Information

Prudent Corporate Advisory Services Limited
Prudent House, 3 Devang Park Society,
Panjarapole Cross Road,
Ambawadi, Ahmedabad-380 015
Phone: +91 79 4020 9600
Email: [email protected]

IPO Registrar

Link Intime India Private Ltd

Phone: +91-22-4918 6270
Email: [email protected]

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IPO Lead Manager(s)

  1. ICICI Securities Limited 
  2. Axis Capital Limited 
  3. Equirus Capital Private Limited