Prudent IPO | Motilal Oswal

Prudent Corporate Advisory Services Ltd IPO

Opening Date

10, May 2022

Closing Date

12, May 2022

Face Value

₹5 per equity share

IPO Price Band

₹595 to ₹630 per equity share

Minimum Order Quantity

23 Shares

Issue Size

₹538.61 Crs

 

The year 2021 proved to be a beneficial year for primary markets, wherein more than 63 IPOs went public, raising more than 1 Lakh Crore. It is estimated that approximately 1 million investors participated in this IPO rally. The largest IPO was from One97 Communications (PAYTM) for Rs 18,300 crore — the largest offering historically in India. New-age technology brands like Paytm, Zomato, Nykaa and Policybazaar, released initial public offerings (IPOs) in India during 2021 even as the stock market key indices leaped to new highs shrugging off COVID concerns. Coming out now, is the offering from Prudent Corporate Advisory Services Ltd IPO. Let’s take a quick look at this offering..

About Prudent Corporate Advisory Services Ltd IPO -

Incorporated in 2003, Prudent is an independent retail wealth management services group in India. Backed by US-based private equity investor TA Associates, Prudent is amongst the top mutual funds in terms of average assets under management (“AAUM”) and commission received. Apart from mutual funds, it also distributes financial products like Insurance products, PMS, Unlisted Securities, Bonds/FDs, AIFs, NPS, Stock broker etc.

Provided wealth management services to 13,51,274 unique retail investors through 23,262 MFDs ,spread across branches in 110 locations in India as on December 31, 2021. The company offers digital wealth management (DWM) solutions through platforms, namely, FundzBazar, PrudentConnect, Policyworld, WiseBasket and CreditBasket.

Prudent Corporate Advisory Services Ltd IPO details -

Let’s now move onto the main part of this article. Here, we’re going to be looking at some of the most important details of this upcoming IPO viz - Prudent Corporate Advisory Services Ltd IPO  Ltd IPO date and its share price.

Prudent Corporate Advisory Services Ltd IPO date -

According to the Red Herring Prospectus filed by the company, the public issue of the equity shares is going live from 10th, May and will be available for subscription until 12th, May 2022.

Prudent Corporate Advisory Services Ltd IPO issue size -

The total issue size of the latest Prudent Corporate Advisory Services Ltd IPO is expected to be around ₹538.61 crores. The issue is a total offer for sale of 8,549,340 shares.

75% of the offer is for QIBs (qualified institutional buyers), 10% for retail investors, and the balance 15% for NIBs (non-institutional investors).

Prudent Corporate Advisory Services Ltd IPO share price

The price band of the company’s upcoming IPO is declared to range between ₹595 to ₹630 per equity share

Prudent Corporate Advisory Services Ltd IPO listing

Since the IPO of Prudent Corporate Advisory Services Ltd IPO  Ltd IPO is from the mainboard, it would be listed on both - the National Stock Exchange (NSE) as well as the Bombay Stock Exchange (BSE)

Prudent Corporate Advisory Services Ltd IPO objectives

According to the Red Herring Prospectus filed by the company, it aims to utilize the Net Proceeds towards the following objects:

  • To carry out the Offer for Sale
  • To achieve the benefits of listing the Equity Shares on the Stock Exchanges

Prudent Corporate Advisory Services Ltd IPO Key Strengths

  • A highly scalable, asset-light and cash generative business model
  • Offers a comprehensive multi-product investment platform with end-to-end solutions critical for financial products distribution
  • Pan-India diversified distribution network with ability to expand into underpenetrated B-30 market
  • Demonstrated a consistent track record of profitable growth
  • Experienced management team and are backed by a global investor

Prudent Corporate Advisory Services Ltd IPO Risks

  • The financial services industry is rapidly evolving and intensely competitive & highly regulated
  • The mutual fund distribution business constitutes a significant part of revenue
  • Any adverse changes in rates of commission
  • Business operations are highly dependent on Information Technology

Conclusion

With the insurance sector getting strong, you might be surely excited to experience how the Indian Stock Market reacts to this emerging sector. If you wish to become a part of this growing Indian Market, you will need to have an online demat and trading account, which will help you get shares of your favourite companies. To get an online DEMAT account for Free*, all you have to do is sign-up with Motilal Oswal and get started.

If you already have an existing account, you can  start your online trading and invest in the upcoming IPO's.

With a plethora of companies coming forward with their own IPOs in quick succession, you can keep a track of all the upcoming IPOs by regularly following our IPO calendar.

 

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