The Initial Public Offer (IPO) consists of 8,549,340 equity shares of face value of Rs 5 each of Prudent Corporate Advisory Services Limited comprising an offer for sale of up to 8,281,340 equity shares by Wagner Limited and up to 268,000 equity shares by Shirish Patel. This offer includes a reservation for purchase by eligible employees.
The company offers a technology enabled, comprehensive investment and financial services platform with end-to-end solutions critical for financial products distribution and presence across both online and offline channels.
PCASL claims to be the fastest growing national distributor (amongst the top 10 mutual fund distributors) in terms of commission and AAUM with a CAGR of 34.4 per cent and 32.5 per cent respectively for the five year period ending Fiscal 2021.
The Company believes they have become an important interface between asset management companies and mutual fund distributors or independent financial advisors (and by extension, retail investors who avail services from such MFDs), over the last two decades. They are an independent platform with no single AMC contributing more than 15 per cent of our AUM as of May 31, 2021.
The Book Running Lead Managers to the offer are ICICI Securities Limited, Axis Capital Limited and Equirus Capital Private Limited.
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