Bookbuilding IPO | ₹428 Cr | Listed at BSE, NSE | Tue, May 10, 2022 - Thu, May 12, 2022
Prudent Corporate Advisory IPO is a book build issue of ₹428.28 crores. The issue is entirely an offer for sale of 0.68 crore shares of ₹428.28 crore.
Prudent Corporate Advisory IPO bidding started from May 10, 2022 and ended on May 12, 2022. The allotment for Prudent Corporate Advisory IPO was finalized on May 18, 2022. The shares got listed on BSE, NSE on May 20, 2022.
Prudent Corporate Advisory IPO price band is set at ₹630 per share. The lot size for an application is 23. The minimum amount of investment required by an retail is ₹14,490 (23 shares) (based on upper price). The lot size investment for sNII is 14 lots (322 shares), amounting to ₹2,02,860, and for bNII, it is 70 lots (1,610 shares), amounting to ₹10,14,300.
The issue includes a reservation of up to 1,13,835 shares for employees offered at a discount of ₹59.00 to the issue price.
ICICI Securities Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Prudent Corporate Advisory IPO RHP for detailed Information.
IPO Open
Tue, May 10, 2022
IPO Close
Thu, May 12, 2022
Issue Price
₹630 per share
Market Cap (Pre-IPO)
₹2,608.62 Cr
| IPO Date | 10 to 12 May, 2022 |
| Listed on | Fri, May 20, 2022 |
| Face Value | ₹5 per share |
| Price Band | ₹595 to ₹630 |
| Issue Price | ₹630 per share |
| Lot Size | 23 Shares |
| Sale Type | OFS only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Employee Discount | ₹59.00 |
| Total Issue Size | 68,08,820 shares (agg. up to ₹428 Cr) |
| Offer for Sale | 68,08,820 shares of ₹5 (agg. up to ₹428 Cr) |
| Share Holding Pre Issue | 4,14,06,680 shares |
| Share Holding Post Issue | 4,14,06,680 shares |
| BSE Script Code / NSE Symbol | 543527 / PRUDENT |
| ISIN | INE00F201020 |
Prudent Corporate Advisory IPO offers total 85,49,340 shares. Out of which 42,17,752 (49.33%) allocated to QIB, 16,87,101 (19.73%) allocated to QIB (Ex- Anchor), 12,65,326 (14.80%) allocated to NII 29,52,427 (34.53%) allocated to RII and 25,30,651 (29.60%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 42,17,752 (49.33%) | NA |
| − Anchor Investor Shares Offered | 25,30,651 (29.60%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 16,87,101 (19.73%) | NA |
| NII (HNI) Shares Offered | 12,65,326 (14.80%) | NA |
| − bNII > ₹10L | 8,43,551 (9.87%) | 2,619 |
| − sNII < ₹10L | 4,21,775 (4.93%) | 1,309 |
| Retail Shares Offered | 29,52,427 (34.53%) | 1,28,366 |
| Employee Shares Offered | 1,13,835 (1.33%) | NA |
| Total Shares Offered | 85,49,340 (100.00%) |
Investors can bid for a minimum of 23 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 23 | ₹14,490 |
| Retail (Max) | 13 | 299 | ₹1,88,370 |
| S-HNI (Min) | 14 | 322 | ₹2,02,860 |
| S-HNI (Max) | 69 | 1,587 | ₹9,99,810 |
| B-HNI (Min) | 70 | 1,610 | ₹10,14,300 |
Prudent Corporate Advisory IPO raises ₹159.43 crore from anchor investors. Prudent Corporate Advisory IPO Anchor bid date is May 9, 2022.
📝 Anchor Investors Letter (PDF)
| Bid Date | Mon, May 9, 2022 |
| Shares Offered | 25,30,651 |
| Anchor Portion (₹ Cr.) | 159.43 |
| Anchor lock-in period end date for 50% shares (30 Days) | Fri, Jun 17, 2022 |
| Anchor lock-in period end date for remaining shares (90 Days) | Tue, Aug 16, 2022 |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Incorporated in 2003, Prudent Corporate Advisory Services Limited 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 groups. The 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:
| Period Ended |
|---|
| Amount in ₹ Crore |
| KPI | |
|---|---|
| ROCE | 28.73 |
| RoNW | 28.73 |
| PAT Margin | 15.40% |
| EBITDA Margin | 21.61% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 10.96 | |
| P/E (x) | 33.94 | |
| Promoter Holding | 56.78% | 56.78% |
| Market Cap | ₹2,608.62 Cr. |
The Prudent Corporate Advisory Services IPO is subscribed 1.22 times on May 12, 2022 5:00:00 PM (Day 3). The public issue subscribed 1.29 times in the retail category, 1.26 times in the QIB category, and 0.99 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 1.26 | 16,87,101 | 21,21,566 |
| NII | 0.99 | 12,65,326 | 12,56,605 |
| Retail | 1.29 | 29,52,427 | 38,11,744 |
| Employee | 1.23 | 1,13,835 | 1,39,449 |
| Total | 1.22 | 60,18,689 | 73,29,364 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the BRLMs (including brokerage, underwriting fees and selling commission) | 17.25 |
| 2 | Commission and processing fee for SCSBs and Bankers to the Offer and brokerage and selling commission for members of the Syndicate, Registered Brokers, RTAs or CDPs | 1.33 |
| 3 | Fee payable to Registrar to the Offer | 0.04 |
| 4 | Printing and stationery expenses | 1.95 |
| 5 | Advertising and marketing expenses | 5.18 |
| 6 | Other expenses: • Listing fee • SEBI and stock Exchanges processing fee and book building software fees • Fee payable to legal counsels • Miscellaneous | 7.62 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹630.00 | ₹630.00 |
| Open | ₹660.00 | ₹650.00 |
| Low | ₹541.15 | ₹541.00 |
| High | ₹660.00 | ₹650.00 |
| Last Trade | ₹562.70 | ₹561.75 |
Lead Manager Reports
Prudent Corporate Advisory IPO is a main-board IPO of 68,08,820 equity shares of the face value of ₹5 aggregating up to ₹428 Crores. The issue is priced at ₹630 per share. The minimum order quantity is 23.
The IPO opens on Tue, May 10, 2022, and closes on Thu, May 12, 2022.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Prudent Corporate Advisory IPO using UPI as a payment gateway. Zerodha customers can apply in Prudent Corporate Advisory IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Prudent Corporate Advisory IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Prudent Corporate Advisory IPO opens on Tue, May 10, 2022 and closes on Thu, May 12, 2022.
Prudent Corporate Advisory IPO lot size is 23, and the minimum amount required for application is ₹14,490.
You can apply in Prudent Corporate Advisory IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Prudent Corporate Advisory IPO will be done on Wednesday, May 18, 2022, and the allotted shares will be credited to your demat account by Fri, May 20, 2022. Check the Prudent Corporate Advisory IPO allotment status.
The Prudent Corporate Advisory IPO listing date is on Fri, May 20, 2022.
