Prudent Corp. IPO: Issue Details, Open/Close Date | Research 360 by Motilal Oswal
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Prudent Corp.

CMP

1,865.40

+25.10 (1.36%)

  • DRHP
₹630

Offer Price

₹ 537.94 Cr

Issue Size

₹ 14,490

Min Investment

0.81x

Times Subscribed

23

Lot size

Time Line

  • 10
    May 2022
    Open
  • 12
    May 2022
    Close
  • 18
    May 2022
    Finalisation of Basis of Allotment
  • 19
    May 2022
    Initiation of Refunds
  • 20
    May 2022
    Transfer of Shares to Demat Account
  • 20
    May 2022
    Listing Date

Shares Offered

Number of Times Subscribed

Objects of the Offer

  • The Company intends to continue to focus on increasing geographic reach and strengthening relationships with MFDs

  • The Company intends to leverage its existing MFD network to distribute products and services

  • The Company intends to continue innovating its technology platforms to provide superior experience to its MFDs and their clients

  • It intends to add new offerings to its existing portfolio

Products & Services

  • The Company is an independent retail wealth management services group in India and is amongst the top mutual fund distributors in terms of average assets under management ("AAUM") and commission received.

Strengths

  • The Company operates in an underpenetrated Indian asset management industry, that has grown at a CAGR of more than 20%.

  • The Company is a growing financial products distribution platform.

  • It 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.

  • It has a pan-India diversified distribution network with ability to expand into underpenetrated B-30 markets.

Risks

  • The company operate in a highly regulated environment, which is subject to change, and existing and new laws, regulations and government policies affecting the sectors in which its operate could adversely affect its business, financial condition and results of operations.

  • The company depend on its ability to attract and retain registered MFDs on its platforms and any inability to retain them may adversely affect its business and results of operations.

  • Its inability to grow at its historical rates could adversely affect its business, results of operations and financial condition.

  • Recommendations, suggestions and advice provided by MFDs using its platform to their clients may be subject to errors or fraudulent behaviour and are beyond its control and any resultant adverse impact to their clients could have an adverse impact on its reputation, business and results of operations.

  • Competition from existing and new market participants in its line of business may affect its market share, or results of operations.

Company Promoters

Promoters Holding

Issue For IPO
43.36%
Pre Holding

43.36%

Post Holding

-

Top Promoters Holding

Financials

All values in Cr

Mar-2021 Mar-2023 Mar-2021 3-Yr trend
Revenue 294.81 (24.90%) 617.01 (109.30%) 28.73 (-)
Gross Profit 294.81 (24.90%) 617.01 (109.30%) 28.73 (-)
Net Income 294.81 (24.90%) 617.01 (109.30%) 28.73 (-)
Assets 294.81 (24.90%) 617.01 (109.30%) 28.73 (-)
Liabilities 294.81 (24.90%) 617.01 (109.30%) 28.73 (-)

Peers

Company Name Revenue (Cr) Net Profit (Cr) Assets (Cr) Liabilities (Cr) ROE EPS BVPS Current Ratio Debt to Assets
Prudent Corporate Advisory Services Ltd 294.81 45.30 170.25 12.61 28.73 438.08 1,524.59 2.07 0.07
IIFL Wealth Management Ltd 1,611.63 369.19 8,739.96 8,739.96 13.05 41.76 321.76 4.22 1.67
ICICI Securities Ltd 2,586.17 1,067.72 8,180.91 8,180.91 58.60 33.08 56.54 13.05 1.93
Central Depository Services (India) Ltd 343.72 200.34 1,084.00 1,084.00 22.83 19.17 88.04 18.48 0.00
Computer Age Management Services Ltd 705.50 205.29 841.93 841.93 39.79 41.93 105.73 24.38 0.00
HDFC Asset Management Company Ltd 1,852.53 1,325.76 5,094.70 5,094.70 27.75 62.28 224.28 26.02 0.00
Nippon Life India Asset Management Ltd 1,062.14 680.33 3,392.23 3,392.23 21.94 10.90 50.29 20.05 0.00
UTI Asset Management Company Ltd 1,168.52 494.14 3,650.35 3,650.35 15.19 38.97 257.36 13.53 0.00

Book Running Managers

  • ICICI Securities Ltd
  • Axis Capital Ltd
  • Equirus Capital Pvt Ltd

Registrar & Transfer Agent

Link Intime India Pvt Ltd

C-101 247 Park,
L B S Marg,
Vikhroli West - Mumbai-400083
Phone : 91-22-49186000 Fax: 91-22-49186060

Company Contact Information

Prudent House 3 Panjarapole,
Cross Road Ambawadi,
Ahmedabad - 380015
Phone : 91-79-40209600 Email : cs@prudentcorporate.com www.prudentcorporate.com

Offer Related Information

Initial public offer of 8,549,340# equity shares of face value of Rs. 5 each (the "Equity Shares") of Prudent Corporate Advisory Services Limited (The "Company") for cash at a price of Rs. 630 per equity share (including a share premium of Rs. 625 per equity share) aggregating to Rs. 537.94 crores# (the "Offer"), comprising an offer for sale of 8,281,340# equity shares aggregating to Rs. 521.07 crores# by Wagner Limited ("Wagner") and 268,000# equity shares aggregating to Rs. 16.86 crores# by... More

News

  • 12 May 2022, 17:26 PM

    Prudent Corporate Advisory Services IPO subscribed 1.22 times

  • 11 May 2022, 17:19 PM

    Prudent Corporate Advisory Services IPO subscribed 57%

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