Prudent Corporate Advisory Services Limited
- IPO Date10 May, 2022 to 12 May, 2022
- Listing Date20 May, 2022
- Face Value₹5 per share
- Issue Price₹595 to ₹630 per share
- Lot Size23 Shares
- Minimum Investment₹14,490
- Listing AtBSE, NSE
- Total Issue Size85,49,340 Shares
(aggregating up to ₹538.61 Cr) - Fresh Issue-
- Offer for Sale85,49,340 Shares
(aggregating up to ₹538.61 Cr) - Issue TypeBook Built Issue IPO
- Share holding pre issue-
- Shareholding post issue-
IPO Dates
Closing Date
12 May, 2022
Initiation of Refunds
20 May, 2022
Listing Date
20 May, 2022
10 May, 2022
Opening Date
18 May, 2022
Basis of Allotment
20 May, 2022
Credit of Shares
Prudent Corporate Advisory Services Limited Lot Size
Investors can bid for a minimum of 23 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Max) | 13 | 299 | ₹1,88,370 |
| Retail (Min) | 1 | 23 | ₹14,490 |
Prudent Corporate Advisory Services Limited Promoter Holding
Sanjay Shah is the company promoter.
| Pre Issue Share Holding | Post Issue Share Holding |
|---|---|
| 56.78% | 56.78% |
Prudent Corporate Advisory Services Limited COMPANY INFORMATION
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.
Prudent Corporate Advisory Services IPO is a book built issue of Rs 538.61 crores. The issue is entirely an offer for sale of 0.85 crore shares.
Prudent Corporate Advisory Services IPO bidding started from May 10, 2022 and ended on May 12, 2022. The allotment for Prudent Corporate Advisory Services IPO was finalized on Wednesday, May 18, 2022. The shares got listed on BSE, NSE on May 20, 2022.
Prudent Corporate Advisory Services IPO price band is set at ₹595 to ₹630 per share. The minimum lot size for an application is 23 Shares. The minimum amount of investment required by retail investors is ₹14,490.
The issue includes a reservation of up to 113,835 shares for employees offered at a discount of Rs 59 to the issue price.
ICICI Securities Limited, Axis Capital Limited and Equirus Capital Private Limited are the book running lead managers of the Prudent Corporate Advisory Services IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to Prudent Corporate Advisory Services IPO RHP for detailed information.
FAQs About Prudent Corporate Advisory Services Limited
Prudent Corporate Advisory Services Limited will open on 10 May, 2022 and close on 12 May, 2022. Investors must apply within this period to participate.
The Prudent Corporate Advisory Services Limited price band is set between ₹595.00 and ₹630.00 per share. The minimum lot size is 23, requiring an investment of at least ₹14490.00.
The Prudent Corporate Advisory Services Limited shares are expected to be listed on 20 May, 2022, subject to regulatory approvals and final allotment.
You can track your Prudent Corporate Advisory Services Limited application status on the registrar’s website: Link Intime or KFintech using your PAN, application number, or DP ID
The Prudent Corporate Advisory Services Limited will be listed on major stock exchanges such as NSE and BSE, where you can trade shares once they are listed.