Prudent IPO_Know all the details here
Prudent Corporate Advisory, leading financial services provider, has come up with an IPO. Let’s know all about the company and IPO before applying.
About the company:
Prudent is one of the leading independent retail wealth management services groups (excluding banks) in India and among the top mutual fund distributors in terms of average assets under management and commissions received.
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.
Prudent Corporate Advisory Services is amongst the top 10 mutual fund distributors in terms of average assets under management AUM as of FY21.
Sanjay Shah is the company’s promoter.
About an IPO:
◇ Prudent IPO opened for subscription on 10th May, 2022 and closes on 12th May, 2022.
◇ The price band fixed for this IPO is ₹ 595 to ₹630 per share.
◇ A lot consists of 23 shares making total of ₹14,490.
◇ Employee Discount of ₹59 will be provided.
◇ Allotment of shares will happen on 18th May, 2022.
◇ IPO will get listed on BSE and NSE on 23rd May, 2022.
◇ On first day, it was subscribed 0.57 times.
Financials:
Prudent Corporate Advisory Services IPO is a main-board IPO of 8,549,340 equity shares of the face value of ₹5 aggregating up to ₹538.61 Crores.
◇ The below charts and tables shows PAT, P/E and other required rations.
◇ Overall, the company seems to be in good health and a growing segment.
◇ For FY21, Prudent Corporate earned 83.3 per cent, 9.5 per cent, 5.9 per cent and 1.3 per cent of its total commission and fees income from distribution of mutual funds, distribution of insurance, stockbroking and other products, respectively.
Pros:
◇ The industry in which , Prudent operates has grown by 20% CAGR and is expected to grow more.
◇ It means, we can expect company to grow more in future.
◇ Pan-India diversified distribution network with the ability to expand into underpenetrated B-30 markets.
Cons:
◇ Highly competitive Market, Many new companies are and will emerge in future.
◇ Prudent Corporate is dependent on few AMCs.
So, are you applying for this IPO or not, let me know in comments below.
Happy Learning and Investing!!!
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