Prudent Corporate Advisory Services Limited, a retail wealth management services, is planning to raise Rs 538.61 crore by going public. The subscription for its initial public offering will open on May 10 and end on May 12, 2022. The price band has been fixed at Rs 595-630 apiece.
The issue comprises of only Offer For Sale of about 85.49 lakh shares. The face value is Rs 5 per each equity share. Prudent’s employees will get a discount of Rs 59 per equity share to the final issue price.
Prudent Corporate Advisory Services Limited is a Gujarat-based independent retail wealth management services group in India and one of the top mutual fund distributors in terms of average assets under management (“AAUM”) and commission received.
The company offers 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’s wealth management services cater to 1,351,274 unique retail investors through 23,262 MFDs on their B2B2C platform and its branches are spread across 110 locations in 20 states in India as on December 2021.
Some of the key metrics of their business as on December 31, 2021 are given below in the image,
Particulars | 9MFY22 | FY21 | FY20 | FY19 |
Commission and fee income from distribution of mutual fund products | 2,713.88 | 2,312.93 | 1,955.87 | 1,956.98 |
Total revenue from operations | 3,212.21 | 2,865.07 | 2,348.33 | 2,219.84 |
EBITDA | 814.96 | 619.1 | 466.71 | 382.05 |
EBITDA margin | 25.37% | 21.61% | 19.87% | 17.21% |
PAT | 576.28 | 452.97 | 278.53 | 210.19 |
PAT margin | 17.94% | 15.81% | 11.86% | 9.47% |
ROCE | 26.83% | 28.73% | 24.75% | 25.30% |
Cash flow from operations | 505.8 | 577.22 | 502.78 | 123.2 |
Cash flow from operations / EBITDA | 62.06% | 93.24% | 107.73% | 30.71% |
*All numbers are Rs in million except for percentage
Sanjay Shah is the promoter of the company.
IPO Opening Date | 10-May-22 |
IPO Closing Date | 12-May-22 |
Face Value | Rs 5 per equity share |
Issue Price (Price Band) | Rs 595 to Rs 630 per share |
Lot Size | 23 Shares |
Issue Size | 8,549,340 shares of Rs 5 each |
Issue Type | Book Built Issue IPO |
Listing At | BSE, NSE |
Application | Lots | Shares | Amount |
Minimum | 1 | 23 | Rs 14,490 |
Maximum | 13 | 299 | Rs 188,370 |
Fortune Capital Services Private Ltd. SEBI Registration No. INZ000201438. Member Code for NSE: 14572 BSE:6524 MCX: 16765 and ICEX: 2010. CDSL DP ID: 12080300 SEBI Registration No.IN-DP-CDSL-729-2014. Registered Office: Kochar Technology Park, 6th Floor, SP-31-A, 1st Cross Road, Ambattur Industrial Estate, Ambattur, Chennai – 600 058. For any complaints pertaining to stock broking please write to [email protected] and for DP related to [email protected] Please ensure to read the Risk Disclosure Document carefully as prescribed by SEBI.
“Procedure to file a complaint on SEBI SCORES: Register on SCORES portal. Mandatory details for filing complaints on SCORES: Name, PAN, Address, Mobile Number, E-mail ID. Benefits: Effective Communication, Speedy redressal of the grievances”
“Prevent unauthorised transactions in your account, update your mobile numbers/email IDs with your Stockbroker/Depository Participant. Receive information of your transactions directly from Exchange/Depository on your mobile/ email at the end of the day. Issued in the interest of investors”. As a business we do not give stock tips and have not authorized anyone to trade on behalf of others. If you find anyone claiming to be part of FLATTRADE and offering such services, please email to [email protected] “KYC is one time exercise while dealing in securities markets – once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.” Dear Investor, if you are subscribing to an IPO, there is no need to issue a cheque. Please write the Bank account number and sign the IPO application form to authorize your bank to make payment in case of allotment. In case of non-allotment, the funds will remain in your bank account.
“Attention Investors 1. Stock Brokers can accept securities as margin from clients only by way of pledge in the depository system w.e.f. September 1, 2020. 2.Update your mobile number & email Id with your stock broker/depository participant and receive OTP directly from depository on your email id and/or mobile number to create pledge. 3. Pay 20% upfront margin of the transaction value to trade in cash market segment 4. Investors may please refer to the Exchange’s Frequently Asked Questions (FAQs) issued vide circular reference NSE/INSP/45191 dated July 31, 2020 and NSE/INSP/45534 dated August 31, 2020 and other guidelines issued from time to time in this regard. 5. Check your Securities /MF/ Bonds in the consolidated account statement issued by NSDL/CDSL every month. Issued in the interest of Investors”
Disclaimer: ‘Investment in securities market are subject to market risks, read all the related documents carefully before investing’.
“Investment in Mutual Fund market are subject to market risk. There is no guaranteed or assured rate of return. Past Performance is not indication of future returns. Please read all related documents carefully before investing”.
“The securities quoted are exemplary and are not recommendatory”.
“Brokerage will not exceed the SEBI prescribed limit”.
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