Prudent Corporate Advisory Services Limited has come up with an initial public offer (IPO). It will open on May 10-12, 2022 at Rs.595-630 a share. The IPO issue size is around Rs.535.50 crore. The minimum bid will be for 23 shares and in its multiples thereafter.
Prudent Corporate Advisory Services Limited was incorporated in 2003 and provides wealth management services to retailers. It is amongst the top mutual fund distributors in terms of average assets under management (“AAUM”) 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 grew faster among national distributors in terms of commission and AAUM with a CAGR of 34.4% and 32.5% respectively for the five-year period ending Fiscal 2021. It has provided wealth management services to 13,51,274 unique retail investors through 23,262 MFDs spread across branches in 110 locations in 20 states in India. It also distributes life and general insurance products in India. The company provides its services through various platforms, namely FundzBazar, PrudentConnect, Policyworld, WiseBasket, and CreditBasket.
Sanjay Shah – 43.36%
Strength & Weakness
Operates in the underpenetrated Indian asset management industry
Competition from existing and new market participants
Growing independent financial products distribution platforms
Highly dependent on key management personnel
Track record of profitable growth
Direct investments in mutual funds
Innovation and use of technology
Highly regulated environment
Pan-India diversified distribution network
Dependent on certain AMCs
Granular retail AUM towards high-yield equity
There is an outstanding criminal case
Experienced management team
Highly dependent on information technology
Anand Rathi Wealth
IIFL Wealth Finance
Karvy Stock Broking
Revenue (in Crore)
Profit (in Crore)
Object of Issue
1) To carry out the Offer for Sale.
2) Achieve the benefits of listing the Equity Shares on the Stock Exchanges.