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Details you don’t want to miss

Issue size

Upto Rs. 537.9 cr.

Issue Period

May 10 – May 12, 2022

Price band

Rs. 595 to Rs. 630

Market lot / Multiples

23 shares

Issue Timeline

Bidding period

May 10 – 12, 2022

Allotment

May 18, 2022

Refund Initiation

May 19, 2022

Share Crediting

May 20, 2022

Listing

May 23, 2022

Prudent Corporate Advisory Services Ltd IPO Overview

- One of the largest independent retail wealth management services group (excluding banks) in India and amongst the top mutual fund distributors in terms of average assets under management (“AAUM”) and commission received (Source: CRISIL Report as per Company DRHP)
- Offer 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 (Source: Company DRHP)

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Strengths & Risks associated

Top 0 Strengths

  • 1

    One of the largest and fastest growing financial products distribution platforms

    AAUM has grown at a CAGR of 32.5% to ₹ 249,100 million in the five year period from FY16 to FY21 while in the same period mutual funds distributors’ AAUM grew at an approximate CAGR of ~12% and touched ₹ 10.19 trillion in Fiscal 2021 (Source: CRISIL Report as per Company DRHP)

  • 2

    Track record of innovation and use of technology to improve investor and partner experience

    Offer digital wealth management (“DWM”) solutions through platforms, namely, FundzBazar, PrudentConnect, Policyworld, WiseBasket and CreditBasket. (Source: Company DRHP)

  • 3

    Pan-India diversified distribution network with ability to expand into underpenetrated B-30 markets

    The company believes they are one of the very few national distributors (non-bank) with a strong presence in the B-30 market catering to retail investors in more than 12,600 pin codes across India (Source: Company DRHP)

Top 0 risks

  • 1

    Operate in a highly regulated environment, which is subject to change

    Existing and new laws, regulations and government policies affecting the sectors in which they operate could adversely affect the business, financial condition and results of operations (Source: Company DRHP)

  • 2

    Recommendations, suggestions and advice provided by MFDs using the platform to their clients may be subject to errors or fraudulent behaviour

    Such acts by Mutual Fund Distributors are beyond control and any resultant adverse impact to their clients could have an adverse impact on the company's reputation, business and results of operations (Source: Company DRHP)

Financials

  • Total Assets
  • Total Income
  • Total Borrowings
  • Restated Profit/Loss after Tax
  • Cash & Equivalents at the end of Year
  • Basic Earning per Share (EPS)

Total Assets

Total Income

Total Borrowings

Restated Profit/Loss after Tax

Cash & Equivalents at the end of Year

Basic Earning per Share (EPS)

Industry Trends

Subscription Status

Retail Individual Investor
Non-Institutional Investor
Qualified Institutional Buyers
Overall

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FAQs

An Initial Public Offering (IPO) is when a company issues common stock or shares to the public for the first time. It is the process where a privately held company becomes a publicly traded company with the initial sale of its stock. An IPO is a tool that companies use to secure capital through investments for future use. In most instances, this investment is used to expand or improve the business.

A price band is a price floor and a cap between which a seller will let buyers place bids on a security, usually during an initial public offering (IPO).

Minimum Order Quantity, as name says, is the minimum number of shares investors can apply while bidding in an IPO. If investors want to bid for more shares, they can apply in multiples of IPO market lot (lot Size or IPO bid lot) of shares.

If an investor wants to place bids for less than Rs.2 lacs, he needs to apply in the Retail segment. If an investor wants to bid for more than Rs.2 lacs, he needs to apply in the HNI segment.

Cut-off price is the offer price, finalized by a company in consultation with the book running lead managers (BRLMs), which could be any price within the price band. Applying on Cut-off price means the investor is ready to pay whatever price is decided by the company at the end of the book-building process.

When applying at a cut-off price, an investor has to pay the highest price while placing the bid. If a company decides the final price lower than the highest price asked for IPO, the remaining amount is returned to the retail investor.

An investor can apply in all Mainboard IPOs through ICICIdirect. However, if the investor wants to apply in SME IPOs, he/she can do it through the net banking portal of ICICI Bank.

ASBA stands for "Applications Supported by Blocked Accounts". At the time of bidding, investors’ account is blocked to the extent of the bid amount and debited only at the time of allotment. This facility is being offered by ICICIDirect in affiliation with ICICI Bank Limited.

In other payment options, the bid amount is debited when investors’ bid application is placed with the stock exchanges. Under the ASBA process, the amount will be debited from investors’ bank account to the extent of successful allotment at the time of allotment. Until such allotment, the amount will remain blocked in investors’ bank account.

Application under this facility can be placed only for Book Built Public Issues.

An investor can place maximum of 3 bids in an issue.

The investor with Demat account in ICICIdirect can apply in an IPO by logging in to his ICICIdirect Account. The investor needs to select IPO and then the name of the IPO in which he would like to apply. Given below is the path:

Login to ICICIdirect account >> IPO >> Name of IPO

Investor can apply in the retail section of an IPO through iDirect Portal even if he has a 2-in-1 account (Demat, Trading Accounts) with us and Bank account with third party.

Yes, the investor can revise or withdraw the bids after application. It can be done only once the order is executed. The investor needs to go to the IPO Order Book and select the Transaction Id and then click on Withdraw Application/ Revise Bid. The application in the non- institutional category cannot be withdrawn but can only be revised.

However, this needs to be done during the issue itself and cannot be done after the issue is closed. In case of ASBA applications, for upward revision of bid, additional lien will be marked to the extent of incremental amount. However, in case of downward revision, differential money blocked earlier will not be released. Such amount, if any, will be released after allotment

No, one person cannot apply multiple times with same Demat/PAN for an IPO. If an investor applies in an IPO though multiple applications with same Demat account or same PAN Number, his applications will be rejected.

If an investor would like to place order for multiple applications, he/she can apply with his/her family member's name. But, all eligible family members should have a Demat account and a PAN number.

In cases where issue is over-subscribed, bidding for more than 1 lot from the same account doesn’t help as maximum of only 1 lot can be provided against each application. However, if the investor applies for 1 lot from different accounts, the probability of allocation of shares increases.