Prudent Corporate Advisory Services IPO
Prudent Corporate Advisory Services IPO — date, price band, lot size & details 2022
Prudent Corporate Advisory Services listed on 20 May 2022 at ₹650, 3.2% above the ₹630 issue price.
Prudent Corporate Advisory Services is a retail wealth management firm that distributes mutual funds, insurance and other financial products online and offline. Its total income was Rs 294.90 crore in FY2021.
Stock price
Prudent Corporate Advisory Services is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 10 May 2022
- Close 12 May 2022
- Allotment 18 May 2022
- Refund/credit 19 May 2022
- Listing 20 May 2022
Issue summary
The terms of the offer, as filed.
| IPO Dates | 10 to 12 May, 2022 |
|---|---|
| Price Band | ₹595 – ₹630 |
| Face Value | ₹5 |
| Lot Size | 23 Shares |
| Issue Size | ₹428.28 Cr |
| Sale Type | OFS only |
| Listing On | BSE, NSE |
| Employee Discount | Rs 59.00 per share |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,490 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 23 shares at the ₹630 cut-off. Drag to size your application.
| 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 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Profit after tax rose from Rs 21.02 crore in FY2019 to Rs 45.30 crore in FY2021.
- 02Profit after tax was Rs 57.63 crore in the nine months to 31 December 2021, above the full FY2021 figure.
- 03The source puts return on net worth at 28.73%.
- 04It served 13,51,274 unique retail investors on 31 December 2021.
- 05Total income rose from Rs 225.06 crore in FY2019 to Rs 294.90 crore in FY2021.
Risks · 5
- 01The whole Rs 428.28 crore issue was offer for sale, so no money went to the company.
- 02The pre-issue P/E was 57.59 at the upper band of Rs 630, based on EPS of Rs 10.94.
- 03Income depends on mutual fund commissions, which move with market levels and regulatory caps. It ranked among the top 10 distributors in FY21.
- 04Total borrowing rose from Rs 2.61 crore on 31 March 2021 to Rs 33.00 crore on 31 December 2021.
- 05Promoters and the promoter group held 56.78% before the issue, and the promoter group's stake stayed at 56.78% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Prudent Corporate Advisory Services offer document.
| Metric | 31 Dec 2021 | 31 Mar 2021 | 31 Mar 2020 | 31 Mar 2019 |
|---|---|---|---|---|
| Assets | 387.34 | 284.93 | 196.08 | 193.22 |
| Total Income | 328.00 | 294.90 | 236.22 | 225.06 |
| Profit After Tax | 57.63 | 45.30 | 27.85 | 21.02 |
| EBITDA | 81.50 | 61.91 | 46.67 | 38.21 |
| NET Worth | 157.65 | 112.52 | 83.10 | |
| Reserves and Surplus | 194.10 | 156.61 | 111.48 | 82.33 |
| Total Borrowing | 33.00 | 2.61 | 7.76 | 22.87 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Prudent Corporate Advisory Services RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Prudent Corporate Advisory Services IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹10.94 | ₹18.56 |
| P/E Ratio (x) | 57.59 | 33.94 |
| Market Cap at Offer Price (₹ Cr) | ₹3,318.73 | ₹1,956.19 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹630 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
How the company intends to use the proceeds of the issue.
Information about the usage of proceeds from the Prudent Corporate Advisory Services IPO will be updated shortly.
About the company
It runs digital wealth platforms FundzBazar, PrudentConnect, Policyworld, WiseBasket and CreditBasket, and distributes through both online and offline channels.
It was among the top 10 mutual fund distributors by average AUM in FY21, and served 13,51,274 unique retail investors on 31 December 2021.
The IPO was Rs 428.28 crore and was entirely an offer for sale by investor Wagner Limited and another shareholder, so the company received none of the money.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Prudent Corporate Advisory Services IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Axis Capital
126 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
ICICI Securities
133 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
Equirus Capital Pvt.Ltd.
34 issues handledBest listing: G R Infraprojects (+105.0%). Weakest: Metro Brands (-12.6%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Prudent Corporate Advisory Services?
The current Grey Market Premium is ₹35, or 6% over the issue price.
What is the Prudent Corporate Advisory Services IPO price band?
₹595 to ₹630, on a face value of ₹5.
When is the allotment?
The basis of allotment is 18 May 2022, with listing on 20 May 2022.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
