Can you tell me more details of the business of Prudent Corporate, which is going for IPO next week? How big is the issue and when is the issue opening and closing?

Prudent Corporate Advisory operates in the field of wealth management and it is ranked among the leading distributors of mutual fund in India. Prudent has adopted an advisory approach to mutual fund distribution, where the products are woven into the customized advice rather than just relying on hard core sales. That is the Prudent edge.

It has a strategic investment from a leading PE Fund, Wagner. It has an impressive AUM of Rs.48,411 crore of which over 92% exposure is to the high yield equity funds. The entire issue is an offer for sale, where essentially Wagner will take an exit while one of the other directors will exit a small stake in the company.

Particulars	Key IPO Details	Particulars	Key IPO Details
Nature of issue	Book Building	Issue Opens on	10-May-2022
Face value of share	Rs.5 per share	Issue Closes on	12-May-2022
IPO Price Band	Rs.595 - Rs.630	Basis of Allotment date	18-May-2022
Market Lot	23 shares	Refund Initiation date	19-May-2022
Retail Investment limit	13 Lots (299 shares)	Credit to Demat	20-May-2022
Retail limit - Value	Rs.188,370	IPO Listing date	23-May-2022
Fresh Issue Size	Nil	Fresh Issue (No. of shares)	Nil
Offer for Sale Size	Rs.538.61 crore	Offer for Sale (No. of shares)	85,49,340
Total IPO Size	Rs.538.61 crore	Indicative valuation	Rs.2,609 crore
Listing on	BSE, NSE	HNI Quota	15%
QIB Quota	50%	Retail Quota	35%
(BRLMs) – ICICI Securities, Equirus Capital | (Registrar) – Link In Time India

This makes the business model of Prudent Corporate Advisory asset-light in nature. This makes it scalable at short notice and with absolutely minimal costs. Recently, Prudent Corporate Advisory acquired the entire portfolio of mutual fund distribution folios of Karvy Stock Broking after the latter went bust due to the major scam in 2019.

As part of its advisory offering, Prudent Corporate Advisory operates various platforms like Fundbazar, PrudentConnect, Policyworld, WiseBasket, PruBazaar and Credit Basket. These platforms enables Prudent Corporate Advisory to sell and cross sell equities, mutual funds, life and non-life insurance policies as well as loans and other liability products.