Incorporated in 2003, Prudent Corporate Advisory Services Limited provides retail wealth management services. The company offers Mutual Fund products, Life and General Insurance solutions, Stock Broking services, SIP with Insurance, Gold Accumulation Plan, Asset Allocation, and Trading platforms.
The company offers digital wealth management (DWM) solutions through platforms, namely, FundzBazar, PrudentConnect, Policyworld, WiseBasket and CreditBasket.
Prudent Corporate Advisory Services provides investment and financial services platforms for the distribution of financial products through online and offline channels. Prudent Corporate Advisory Services is amongst the top 10 mutual fund distributors in terms of average assets under management AUM as of FY21.
As of December 31, 2021, Prudent Corporate Advisory Services provided wealth management services to 13,51,274 unique retail investors through 23,262 channel partners on the business-to-business-to-consumer (B2B2C) network, which is spread across 110 branches in 20 Indian states. The company is also associated as a distributor with 42 AMCs.
Prudent Corporate Advisory Services Limited is one of India's leading independent and fastest-growing financial services groups. The company has built a nationwide network, servicing 16,356 PIN codes. Prudent Corporate Advisory Services has 1,067 employees strength, 35.05 lakhs live folios and 15.25 lakhs live SIPs as of December 31, 2021.
Competitive Strengths:
- The company operate in an underpenetrated Indian asset management industry, that has grown at a CAGR of more than 20%.
- Growing independent financial products distribution platforms.
- The company have a granular retail AUM with a mix skewed towards high-yield equity AUM.
- The value proposition has led to increased participation and a long-standing relationship with MFDs.
- The company have a track record of innovation and use of technology to improve investor and partner experience.
- Pan-India diversified distribution network with the ability to expand into underpenetrated B-30 markets.
| Purpose | Amount (₹ Cr) |
|---|---|
| — |
| Metric | 31-Dec-21 | 31-Mar-21 | 31-Mar-20 |
|---|---|---|---|
| Total Assets | 387 | 285 | 196 |
| Revenue | 327 | 295 | 236 |
| PAT | 58 | 45 | 28 |
| Category | Sub (x) | Offered | Bid For |
|---|---|---|---|
| QIB | — | 4,217,752 (49%) | — |
| NII / HNI | — | 1,265,326 (15%) | — |
| Retail (RII) | — | 2,952,427 (35%) | — |
| Employee | — | 113,835 (1%) | — |
| Total | — | 8,549,340 (100%) | — |
* Amount calculated at upper price band (₹630) · ** Total includes all investor categories
- 1 Initiation of Refund 19 May 2022
- 2 Credit of Shares to Demat 20 May 2022
- 3 Lock-in Period (30%) June 17, 2022
- 4 Lock-in Period (50%) August 16, 2022
- Retail allocation is good at 35% of the total offering.
- HNI/NII demand is good at 15%.
- Institutional (QIB) interest is strong at 49%.
- The IPO P/E of 34x reflects a moderate valuation relative to typical market ranges.
This IPO shows moderate investor interest. Review financial details and compare valuation with industry peers before investing.
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