Prudent Corporate Advisory Services was incorporated on June 4, 2003. The company 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.
| Bidding Dates |
|---|
| 10 May 2022 - 12 May 2022 |
| Subscription |
|---|
| 1.22x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,490 | 1 | 13 | 23 | 8.5 M | ₹595 - ₹630 | 79.35 % | ₹5086.9 M - ₹5386.1 M | RHP DOC |
Prudent Corporate IPO SUBSCRIPTION STATUS
12 May '22Prudent Corporate IPO overall subscription rate was 1.22 times the total available shares
Prudent Corporate IPO retail subscription rate was 1.29 times in the retail segment
Prudent Corporate IPO non-institutional investor subscription rate was 0.99 times in the non-institutional investor category
Prudent Corporate IPO Qualified Institutional Bidder subscription rate was 1.26 times the available shares for Qualified Institutional Bidder
Prudent Corporate IPO Employees subscription rate was 1.23 times in the Employees category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers | Employees |
|---|---|---|---|---|
| Category Reservation | 35% | 15% | 50% | - |
12 May 2022 (Day 3) | 1.29x | 0.99x | 1.26x | 1.23x |
11 May 2022 (Day 2) | 1.05x | 0.19x | 0x | 0.67x |
10 May 2022 (Day 1) | 0.72x | 0.02x | 0x | 0.35x |
Prudent Corporate FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from operations (Rs in millions) | Cash Flow from operations (Rs in millions) | Free Cash flow (Rs in millions) | Margins |
| 9MFY22 | 576.28 | 3,212.21 | 505.8 | -1,019.10 | 25.37% |
| FY21 | 452.97 | 2,865.07 | 577.22 | 560.15 | 21.61% |
| FY20 | 278.53 | 2,348.33 | 502.78 | 468.17 | 19.87% |
| FY19 | 210.19 | 2,219.84 | 123.2 | 78.91 | 17.21% |
Prudent Corporate IPO SUBSCRIPTION STATUS DETAILS
Prudent Corporate had 8.5 M shares on offer
Prudent Corporate IPO offer price was in the range ₹595 - ₹630
Prudent Corporate IPO minimum Investment was ₹14490
Prudent Corporate IPO issue size was ₹ 5086.9 M - ₹ 5386.1 M
Prudent Corporate had a minimum lot size of 23 Shares per application
Prudent Corporate NUMBER OF SHARES ON OFFER
Prudent Corporate IPO IMPORTANT DATES
| Issue Open Date | 10 May 2022 |
| Issue close Date | 12 May 2022 |
| Allotment Date | 18 May 2022 |
| Refund Date | 19 May 2022 |
| Demat Account Credit Date | 20 May 2022 |
| Listing Date | 20 May 2022 |
| Listing on Exchange(s) | NSE and BSE |
| Prudent Corporate Allotment Status | Exchange |
Prudent Corporate IPO subscription opened on 10 May 2022, and closed on 12 May 2022
IPO allotment for Prudent Corporate was finalized on Wednesday, 18 May 2022
IPO listing for Prudent Corporate was on NSE and BSE on Friday, 20 May 2022
Prudent Corporate IPO LISTING GAINS
| Issue Price (adjusted) | 630.0 |
| Listing Open Price | 650.0 |
| Listing Close Price | 561.8 |
| Listing Gain% | 3.2% |
| Current Gain% | 435.2% |
Prudent Corporate Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Prudent Corporate Advisory Services Ltd. | 3371.8 | 13961.5 | 57 | 2.8 | 10.2 | 25.2 | 18.1 | 1340.6 | 18.3 | 222.1 | 13.5 | 59.2 | 20.6 |
| Crisil Ltd. | 4607 | 33691 | 38.1 | 1.8 | 8.2 | 25.2 | 16.5 | 3755.6 | 12.1 | 766 | 12 | 120.9 | 21.5 |
| Central Depository Services (India) Ltd. | 1328 | 27755.2 | 58.9 | -12.4 | 23.5 | 23.3 | 18.8 | 1238.5 | 3.3 | 456.1 | -13.4 | 22.5 | -4.8 |
| IIFL Finance Ltd. | 611.8 | 26022.7 | 12.4 | 0 | 1.8 | 11.9 | 1.9 | 13373.8 | 30.6 | 1660.8 | 338.5 | 49.4 | 548.8 |
| National Securities Depository Ltd. | 821.2 | 16424 | 42.3 | 4.5 | 9.5 | 16 | 9.9 | 1660.2 | 8.1 | 379.7 | 10.7 | 19.4 | 9.4 |
| KFIN Technologies Ltd. | 936 | 16178.4 | 47.4 | -1147.9 | 11.7 | 20.5 | 12.4 | 1343.9 | 19.1 | 343.7 | 3.3 | 19.8 | 0 |
Prudent Corporate INFORMATION ON IPO ISSUE
About Prudent Corporate
Prudent Corporate Advisory Services was incorporated on June 4, 2003. The company 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.
Object of the Issue
1. To carry out the Offer for Sale
2. Achieve the benefits of listing the Equity Shares on the Stock Exchanges
Prudent Corporate - PROMOTERS
| Name |
|---|
| Sanjay Shah |
Prudent Corporate Book Running Lead Manager
ICICI Securities Limited
prudent.ipo@icicisecurities.com
Axis Capital Limited
prudent.ipo@axiscap.in
Equirus Capital Private Limited
prudent.ipo@equirus.com
Prudent Corporate Registrar to the Offer
Link Intime India Private Limited
prudent.ipo@linkintime.co.in
Prudent Corporate Strengths
Operates under Indian asset management industry
The company operates in an underpenetrated Indian asset management industry, that has grown at a CAGR of more than 20%.
Growth in distribution platforms
Growing independent financial products distribution platforms.
Granular retail AUM
The company has a granular retail AUM with a mix skewed towards high-yield equity AUM.
Valued proposition
The value proposition has led to increased participation and a long-standing relationship with MFDs.
Track record of innovation
The company has a track record of innovation and use of technology to improve investor and partner experience.
Pan-India diversified network
Pan-India diversified distribution network with the ability to expand into underpenetrated B-30 markets.
Prudent Corporate Risks
Dependability on information technology
The company is highly dependent on information technology
Outstanding litigation
There is outstanding litigation against the company and its Subsidiaries
Leased properties
A majority of the immovable properties, including the Corporate Office, are leased
IPO FAQs
The promoter of the company is Sanjay Shah.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 595.0 - 630.0.
The IPO application opens on May 10, 2022 and closes on May 12, 2022.
The minimum lot size for the IPO is 23. The maximum lot size for the IPO is 299.
For all category investors, the minimum application amount for this IPO is Rs. 14,490.0, the maximum value for this IPO is Rs 188,370.0.
This IPO will be allotted on May 18, 2022.
The refund will be credited to your account on May 19, 2022.
The allotted shares will be credited to your demat on May 20, 2022.
Prudent Corporate Advisory Services Ltd.’s shares listed on the stock exchanges on May 20, 2022.