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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 ₹630.00 per share . The lot size for an application is 23. The minimum amount of investment required by an retail is ₹13,685 (23 shares). 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 Date | May 10, 2022 to May 12, 2022 |
| Listing Date | May 20, 2022 |
| Face Value | ₹5 per share |
| Issue Price Band | ₹595 to ₹630 per share |
| Issue Price Final | ₹630 per share |
| Lot Size | 23 Shares |
| Sale Type | Offer For Sale |
| Total Issue Size | 68,08,820 shares (aggregating up to ₹428.28 Cr) |
| Employee Discount | ₹59.00 |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 4,14,06,680 shares |
| Share Holding Post Issue | 4,14,06,680 shares |
Prudent Corporate Advisory Services 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, 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 | Maximum 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%) |
| 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 |
Prudent Corporate Advisory IPO raises ₹159.43 crore from anchor investors. Prudent Corporate Advisory IPO Anchor bid date is May 9, 2022. Prudent Corporate Advisory IPO Anchor Investors list
| Bid Date | May 9, 2022 |
| Shares Offered | 25,30,651 |
| Anchor Portion Size (In Cr.) | 159.43 |
| Anchor lock-in period end date for 50% shares (30 Days) | June 17, 2022 |
| Anchor lock-in period end date for remaining shares (90 Days) | August 16, 2022 |
Prudent Corporate Advisory IPO opens on May 10, 2022, and closes on May 12, 2022.
| IPO Open Date | Tue, May 10, 2022 |
| IPO Close Date | Thu, May 12, 2022 |
| Tentative Allotment | Wed, May 18, 2022 |
| Initiation of Refunds | Thu, May 19, 2022 |
| Credit of Shares to Demat | Fri, May 20, 2022 |
| Tentative Listing Date | Fri, May 20, 2022 |
| Cut-off time for UPI mandate confirmation | 5 PM on Thu, May 12, 2022 |
Investors can bid for a minimum of 23 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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:
| Particulars | For the year/period ended (₹ in million) | ||||
|---|---|---|---|---|---|
| 31-Dec-21 | 31-Mar-21 | 31-Mar-20 | 31-Mar-19 | ||
| Total Assets | 3,873.40 | 2,849.30 | 1,960.75 | 1,932.15 | |
| Total Revenue | 3,279.98 | 2,948.96 | 2,362.20 | 2,250.58 | |
| Profit After Tax | 576.28 | 452.97 | 278.53 | 210.19 | |
The market capitalization of Prudent Corporate Advisory IPO is ₹2608.62 Cr.
| Pre IPO | Post IPO | |
|---|---|---|
| P/E (x) | 33.94 |
The company will not receive any proceeds from the Offer and all such proceeds will go to the Selling Shareholders.
[Dilip Davda] PCASL is operating in a competitive field and the IPO is fully priced based on its super earnings. The sustainability of such margins in bad times raises concern as its future prospects hinge on market behaviour. Cash surplus/risk seeker investors may consider a moderate investment with a long-term perspective. Read detail review...
| Listing Date | May 20, 2022 |
| BSE Script Code | 543527 |
| NSE Symbol | PRUDENT |
| ISIN | INE00F201020 |
| Final Issue Price | ₹630 per share |
| BSE Listing Group | B |
Prudent Corporate Advisory Services Ltd.
Prudent House, 3 Devang Park Society,
Panjarapole Cross Road,
Ambawadi, Ahmedabad-380 015
Ahmedabad, Gujarat
Phone: +91 79 4020 9600
Email: cs@prudentcorporate.com
Website: https://www.prudentcorporate.com/
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: prudent.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
Prudent Corporate Advisory IPO is a main-board IPO of 68,08,820 equity shares of the face value of ₹5 aggregating up to ₹428.28 Crores. The issue is priced at ₹630 per share. The minimum order quantity is 23.
The IPO opens on May 10, 2022, and closes on 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 May 10, 2022 and closes on 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 Friday, May 20, 2022. Check the Prudent Corporate Advisory IPO allotment status.
The Prudent Corporate Advisory IPO listing date is on Friday, May 20, 2022.
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