Prudent Corporate Advisory Services Limited IPO : Key Dates and Financials

Prudent Corporate Advisory Services Limited initiated its business operations in 2003. The company provides Trading platforms, Gold accumulation plans, stock broking services, Life and general insurance solutions, mutual fund products and asset allocation. Some of its digital wealth management platforms are CreditBasket, Policyworld, WiseBasket, FundzBazaar and PrudentConnect. The company’s network is spread across 110 branches in 20 states of Indian Domain. 

IPO DETAILS

Prudent Corporate Advisory Services Limited IPO is set to launch on 10th May, 2022. The subscription timeline extends till 12th May, 2022. The size for the IPO is 538.561 Crore Rs.. No Shares are  given through Fresh Issue mode. Shares issued through Offer for sale are worth Rs. 538.61 Crore. The lot size is 23 shares and the price range is 595 Rs. – 630 Rs./ share. The company is going to get listed at both the exchanges NSE and BSE. The face value per share is Rs. 5 and this is a book built issue. The registrar for the company is Link Intime India Private Limited.

TABULAR REPRESENTATION OF IPO DETAILS

IPO OPENING DATE	10th May, 2022
CLOSING DATE FOR IPO	12th May, 2022
ISSUE TYPE	Book Built Issue
Face Value per share	5 Rs. per share
IPO price band	595 Rs. – 630 Rs.
LOT SIZE	23 shares
MINIMUM ORDER QUANTITY	23 shares
ISSUE SIZE	538.61 Crore Rs.
OFFER FOR SALE	538.61 Crore Rs.
FRESH ISSUE	No Fresh Issue
LISTING AT	NSE, BSE
LISTING DATE	23rd May, 2022

IMPORTANT DATES

IPO OPENING DATE	10th May, 2022
CLOSING DATE FOR IPO	12th May, 2022
IPO ALLOTMENT DATE	18th May, 2022
REFUNDS	19th May, 2022
DEMAT A/C CREDITED ON	20th May, 2022
IPO LISTING DATE	23rd May, 2022

Prudent Corporate Advisory Services Limited IPO begins for subscription from 10th May, 2022. The IPO subscription would continue till 12th May, 2022. The allotment status for the shareholders who applied would come on 18th May, 2022. The refunds for the ones who did not get allotment would be initiated on 19th May, 2022. The DEMAT accounts of shareholders would be credited on 20th May 2022. The listing of the company would be accompanied on 23rd May, 2022.

Lead Managers And Promoters

The lead managers are :

• Axis Capital Limited
• ICICI Securities Limited
• Equirus Capital Private Limited

The minimum lot size for the company is decided at 23 shares. This holding accounts to  14490 Rs.. The maximum lot size is decided at 299 shares. This amounts to 188370 Rs.. Hence the company’s final holdings would be set as :

	Shares	Amount
Minimum	23 shares	14490 Rs
Maximum	299 shares	188370 Rs.

OBJECTIVES FOR THE IPO

• The existing shareholders will get all the money from the IPO. The company won’t be receiving anything.

COMPANY FINANCIALS

Particulars (in Million Rs.)	Dec. 2021	2020-21	2019-20
ASSETS	3873	2849	1960
Revenue	3279	2948	2362
PAT	576	453	279

Prudent Corporate Advisory Services Limited has an excellent financial record. The company is showing more than 20% growth consistently. The assets of the company are increasing every year at a stable rate. Alongside this the revenues are excellent and they define the asset turnover of the company as well. However on the other hand the company has been profitable for the last 3 years, Not only that the profit figures of the company have been increasing over time. The profit recorded was 279 Million Rs in 2020 which increased to 453 million Rs in 2021. Also the next year the profit rose by another 122 Million Rs to 576 Million Rs. 

The revenue of the company is increasing at almost 600 Million Rs. However this year can be a turn around as the company recorded almost 400 Million Rs of revenue by December 2021. Thus the results would be fascinating to watch and would also decide whether investors should stay long in the company or not. As of now no red flags are noticed in the financials of the company.

PROS

• The company’s financials are excellent.
• The assets are increasing at a stable rate.
• Revenue generation is amazing in comparison to the assets owned.
• The company has been profitable for the last 3 years.

CONS

• No benefits of IPO money for the company.

Prudent Corporate Advisory Services Limited IPO APPLICATION PROCESS WITH ZERODHA

It is very easy to apply for an IPO now if you have a DEMAT account with Zerodha. Follow the steps below for the same :

1. Logging into Zerodha console through its website or KITE platform.
2. Clicking the IPO link present in the Portfolio section.
3. Click the Prudent Corporate Advisory Services Limited IPO button and press the BID button.
4. Entering the details asked for like UPI ID, Quantity and price.
5. Submit the application form for the IPO.
6. Visiting the application of UPI for approving the transaction.

Now, applying for an IPO online is possible with most of the Discount and online brokers.