InvestorQ : 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?
Sam Eswaran made post

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?

Answer
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Moii Chavate answered.
1 week ago
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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.
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